Hogan & Hartson Reps Opon In $400M Delta Deal

Law360, New York (March 19, 2010, 5:46 PM EDT) -- Delta Petroleum Corp. has said it will sell 37.5 percent of its assets in Colorado's Piceance Basin to Opon International LLC for $400 million.

Delta said Thursday that it had entered into a nonbinding letter of intent to sell Opon a nonoperated working interest in Vega Area assets in the basin. Delta will retain operations of the area subject to a joint venture agreement between the two companies.

Both companies focus on independent oil and gas exploration and development.

Delta said that it would use $225...
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