Industry Brief
Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on "strategic alternatives" that may include selling "some or all" of the company's assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are "significant developments." Delta's core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).