Law360, Wilmington (May 08, 2012, 7:49 PM ET) -- Delta Petroleum Corp. won bankruptcy court approval Tuesday to partner with Laramie II LLC on a reorganization plan premised on a joint venture between the two natural gas exploration and development companies.
At a court hearing in Delaware, U.S. Bankruptcy Judge Kevin J. Carey cleared Delta’s selection of Laramie as a so-called plan sponsor. Under the anticipated plan, Laramie will pay Delta $75 million, and the two companies will contribute their primary oil and natural gas assets in Colorado’s Piceance Basin to the joint venture, Piceance...
Laramie Cleared To Sponsor Delta Petroleum's Ch. 11 Plan
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