Delta Petroleum Corporation Valuation Report, July 2010 - Strategic and Operational Analysis


#29085

119pages

GlobalData

$ 3500

In Stock


Delta Petroleum Corporation is an independent oil and gas company engaged primarily in the exploration, acquisition, development and production of natural gas and crude oil mainly in the Rocky Mountain and onshore Gulf Coast regions. The company owns interests in developed and undeveloped oil and gas properties in federal units offshore California near Santa Barbara in the US. It is also engaged in contract drilling operations, as well as providing moving services for third party drilling rigs in the Casper, Wyoming area, in the US. The company had approximately 813,000 acres at 31 December 2009, out of which 797,144 are undeveloped acreage with the remainder being developed acreage. Delta has 126.7 billion cubic feet (Bcf) of natural gas and 4.5 million barrels of liquid (MMbbl) reserves as at 31 December 2009 out of which the Rocky Mountain region comprises 73% of the estimated proven reserves.

Scope

  • Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis. 
  • Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies. 
  • SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
  • Production and Development profile: This section highlights the companies forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets. 
  • Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period. 
  • Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies by using different valuation techniques. 
  • Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities. 

Reasons to buy

  • The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:
  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates. 
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies. 
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table Of Contents

1 Table of contents 3
1.1 List of Tables 6
1.2 List of Figures 7

2 Delta Petroleum Corporation, Company Overview 10

3 Delta Petroleum Corporation, Watchlist for 2010 13

4 Delta Petroleum Corporation, Investment Summary 14
4.1 Severe Liquidity Crunch; Questioning on Deltas Going Concern 14
4.2 Seeking Joint Venture Partner or Potential Buyer To Sell Part or Whole Assets 17
4.3 Substantial Asset Base in Area untouched by Other Operators 18

5 Delta Petroleum Corporation, SWOT Analysis 20
5.1 Strengths 20
5.1.1 Increasing Production Volumes Despite Liquidity Concerns 20
5.1.2 Higher Working Interest on Its Acreage and Operational Control 20
5.2 Weaknesses 20
5.2.1 Liquidity Crisis and Increasing Debt to Equity Ratio 20
5.2.2 Declining Financial Margins 20
5.2.3 Less Diversified Portfolio and Lower Oil Mix 20
5.3 Opportunities 21
5.3.1 Joint Venture/Potential Buyer for Deltas Assets 21
5.4 Threats 21
5.4.1 Failure of Deals Can Result In Erosion of Shareholders Value 21

6 Delta Petroleum Corporation, Goals and Strategies 22
6.1 Seeking Joint Venture/Potential Buyer for its Assets 22
6.2 Development of its Assets in the Rocky Mountain Especially Vega Area 22

7 Delta Petroleum Corporation, Production Overview 23
7.1 Production Profile 23
7.2 Assets Portfolio 24
7.2.1 Rocky Mountain 24
7.3 Costs Incurred 25

8 Delta Petroleum Corporation, Exploration and Development Overview 26
8.1 Exploration Overview 26
8.1.1 Piceance Basin 26
8.1.2 Paradox Basin 26

9 Delta Petroleum Corporation, M&A Highlights 28

10 Delta Petroleum Corporation, Outlook 30

11 Delta Petroleum Corporation, Forecasted Production and Financial Statements 31
11.1 Income Statement (20072014) 33
11.2 Balance Sheet (20072014) 34
11.3 Cash Flow Statement (20072014) 35
11.4 Financial Ratios 36

12 Delta Petroleum Corporation, Valuation 38
12.1 Net Asset Value 38

13 Delta Petroleum Corporation, Peer Comparision 41
13.1 Share Price Performance 41
13.2 Operational and Financial Performance 42
13.3 Key Financial and Operational Ratio 45

14 Delta Petroleum Corporation, Key Risks 47
14.1 Crude oil and natural gas prices 47
14.2 Political Instability 47
14.3 Competition 47
14.4 Reserves and Drilling operations 47

15 Delta Petroleum Corporation, Detailed Financial and Operational Metrics 48
15.1 Delta Petroleum Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced 48
15.1.1 Results of Oil & Gas Operations Per boe Produced, Q1, 2009-Q1, 2010 48
15.1.2 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2009-Q1, 2010 49
15.2 Delta Petroleum Corporation, Quarterly E&P Costs Trends 50
15.2.1 Upstream Capital Expenditure, Q1, 2009-Q1, 2010 50
15.3 Delta Petroleum Corporation, Total Oil and Gas Production 51
15.3.1 Total Crude Oil and Natural Gas Production Trend, Q1, 2009-Q1, 2010 51
15.3.2 Total Crude Oil & Natural Gas Production, The US, Q1, 2009-Q1, 2010 52
15.4 Delta Petroleum Corporation, Crude Oil Production 53
15.4.1 Total Crude Oil Production Trend, Q1, 2009-Q1, 2010 53
15.4.2 Crude Oil Production, The US, Q1, 2009-Q1, 2010 54
15.5 Delta Petroleum Corporation, Natural Gas Production 55
15.5.1 Total Natural Gas Production Trend, Q1, 2009-Q1, 2010 55
15.5.2 Natural Gas Production, The US, Q1, 2009-Q1, 2010 56
15.6 Delta Petroleum Corporation, Valuation and Financial Data 57
15.6.1 Share Price Performance, 20042009 57
15.6.2 Key Valuation Metrics, 20042009 58
15.7 Delta Petroleum Corporation, Total Oil and Gas, Reserves and Production 59
15.7.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 20042009 59
15.7.2 Total Crude Oil & Natural Gas Production and Reserves The US, 20042009 60
15.7.3 Total Crude Oil and Natural Gas Reserve Changes, 20042009 62
15.8 Delta Petroleum Corporation, Crude Oil/Liquids Production and Reserve 63
15.8.1 Crude Oil/Liquids Production and Reserve Trend, 20042009 63
15.8.2 Crude Oil Production and Reserves The US, 20042009 64
15.8.3 Crude Oil/Liquids Reserve Changes, 20042009 66
15.9 Delta Petroleum Corporation, Natural Gas Production and Reserve 67
15.9.1 Natural Gas Production and Reserve Trend, 20042009 67
15.9.2 Natural Gas Production and Reserves, The US, 20042009 68
15.9.3 Natural Gas Reserve Changes, 20042009 70
15.10 Delta Petroleum Corporation, Total Crude Oil and Natural Gas Reserves Life Index 71
15.10.1 Total Crude Oil and Natural Gas Reserves Life Index, 20042009 71
15.10.2 Total Crude Oil and Natural Gas Reserves Life Index, The US, 20042009 72
15.11 Delta Petroleum Corporation, Allocation of the Upstream Capital Expenditure 74
15.11.1 Upstream Capital Expenditure, 20042009 74
15.11.2 Acquisition Costs The US, 20042009 75
15.11.3 Exploration and Development Costs, The US, 20042009 77
15.12 Delta Petroleum Corporation, Oil and Gas Cost Per boe, $/boe 79
15.12.1 Oil and Gas Cost Per boe, $/boe, 20042009 79
15.12.2 Oil and Gas Cost Per boe, $/boe, The US, 20042009 81
15.13 Delta Petroleum Corporation, Oil and Gas Production Replacement Ratio 84
15.13.1 Oil and Gas Production Replacement Ratio, 20042009 84
15.13.2 Oil and Gas Production Replacement Ratio, The US, 20042009 86
15.14 Delta Petroleum Corporation, Oil and Gas Revenue and Expenses 90
15.14.1 Oil and Gas Revenue and Expenses, 20042009 90
15.14.2 Oil and Gas Revenue and Expenses, The US, 20042009 91
15.15 Oil and Gas Revenue and Expenses, Per boe 95
15.15.1 Oil and Gas Revenue and Expenses, By boe, 20042009 95
15.15.2 Oil and Gas Revenue and Expenses Per boe, The US, 20042009 96
15.16 Delta Petroleum Corporation, Oil and Gas Performance Metrics 100
15.17 Delta Petroleum Corporation, Developed and Undeveloped Acreage 101
15.17.1 Gross and Net Developed and Undeveloped Acreage, 20042009 101
15.17.2 Gross and Net Developed and Undeveloped Acreage, The US, 20042009 102
15.18 Delta Petroleum Corporation, Well Statistics 105
15.18.1 Producible Oil and Gas Well, 20042009 105
15.18.2 Producible Oil and Gas Well, The US, 20042009 106
15.18.3 Exploration and Development Wells Drilled, 20042009 110
15.18.4 Exploration and Development Wells Drilled, The US, 20042009 112
15.18.5 Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 20042009 113
15.18.6 Developed Reserves per Well, The US, 20042009 114

16 Appendix 116
16.1 Methodology 116
16.1.1 Coverage 116
16.1.2 Secondary Research 116
16.1.3 Primary Research 116
16.2 Data Sources 117
16.2.1 Company Source 117
16.2.2 SEC/Other Regulatory Filings 117
16.2.3 Agency Reports 117
16.2.4 Other Sources 117
16.3 Methodology for Company Valuation 117
16.4 Expert Panel Validation 118
16.5 Units of Measure 118
16.6 About GlobalData 118
16.7 Disclosure 119
16.8 Disclaimer 119

Table 1: Delta Petroleum Corporation, Key Events, June 2009 July 2010 12
Table 2: Delta Petroleum Corporation, Upstream Growth Profile, MMboe, 20102014 23
Table 3: Delta Petroleum Corporation, Recent Transactions As A Buyer, 20042009 28
Table 4: Delta Petroleum Corporation , Recent Transactions As A Seller, 20042010 29
Table 5: Delta Petroleum Corporation, Forecast Production, MMboe, 20072014 31
Table 6: GlobalData, Price Forecasts, 20102014 31
Table 7: Delta Petroleum Corporation, Income Statement ($m), 20072014 33
Table 8: Delta Petroleum Corporation, Balance Sheet ($m), 20072014 34
Table 9: Delta Petroleum Corporation, Cash Flow Statement ($m), 20072014 35
Table 10: Delta Petroleum Corporation , Profitability Ratios, 20072014 36
Table 11: Delta Petroleum Corporation, Other Financial Ratios, 20072014 37
Table 12: GlobalData, Crude Oil and Natural Gas Price Forecast, 20102014 38
Table 13: Delta Petroleum Corporation, Net Asset Value, 2010 39
Table 14: Delta Petroleum Corporation, Prospective Acreage and Non Proven Reserves, 2010 39
Table 15: Delta Petroleum Corporation, The US, NPV of Natural Gas Reserves, $/Mcf, 2010 39
Table 16: Delta Petroleum Corporation, The US, NPV of Oil/NGL Reserves, $/bbl, 2010 40
Table 17: Delta Petroleum Corporation, The US, NPV OF Total Oil and Natural Gas Reserves, $/boe, 2010 40
Table 18: Delta Petroleum Corporation, Sensitivity Analysis on Fair Value ($/share), 2010 40
Table 19: Delta Petroleum Corporation Vs. Peer Group, Operational and Financial Performance, 2009 42
Table 20: Delta Petroleum Corporation and its Peer Group Comparison, Financial Ratios, 2009 45
Table 21: Delta Petroleum Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2009-Q1, 2010 48
Table 22: Delta Petroleum Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2009-Q1, 2010 49
Table 23: Delta Petroleum Corporation, Upstream Capital Expenditure, Q1, 2009-Q1, 2010 50
Table 24: Delta Petroleum Corporation, Total Crude Oil and Natural Gas, Production, Q1, 2009-Q1, 2010 51
Table 25: Delta Petroleum Corporation, Total Oil & Gas Production, The US, MMboe, Q1, 2009-Q1, 2010 52
Table 26: Delta Petroleum Corporation, Total Crude Oil Production, MMbbl, Q1, 2009-Q1, 2010 53
Table 27: Delta Petroleum Corporation, Crude Oil Production, The US, MMbbl, Q1, 2009-Q1, 2010 54
Table 28: Delta Petroleum Corporation, Total Natural Gas Production, Bcf, Q1, 2009-Q1, 2010 55
Table 29: Delta Petroleum Corporation, Natural Gas Production, The US, Bcf, Q1, 2009-Q1, 2010 56
Table 30: Delta Petroleum Corporation, Share Price Performance, 20042009 57
Table 31: Delta Petroleum Corporation, Key Valuation Metrics, 20042009 58
Table 32: Delta Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 59
Table 33: Delta Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, The US, MMboe, 20042009 61
Table 34: Delta Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 20042009 62
Table 35: Delta Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 20042009 63
Table 36: Delta Petroleum Corporation, Crude Oil Production and Reserves, The US, MMbbl, 20042009 65
Table 37: Delta Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 20042009 66
Table 38: Delta Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 20042009 67
Table 39: Delta Petroleum Corporation, Natural Gas Production and Reserves, The US, Bcf, 20042009 69
Table 40: Delta Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 20042009 70
Table 41: Delta Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 20042009 71
Table 42: Delta Petroleum Corporation, Oil and Gas Reserves Life Index, The US, Years, 20042009 73
Table 43: Delta Petroleum Corporation, Upstream Capital Expenditure, $m, 20042009 74
Table 44: Delta Petroleum Corporation, Proved and Unproved Acquisition Costs, The US, $m, 20042009 76
Table 45: Delta Petroleum Corporation, Exploration and Development Costs, The US, $m, 20042009 78
Table 46: Delta Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 80
Table 47: Delta Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, The US, 20042009 83
Table 48: Delta Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 20042009 85
Table 49: Delta Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, The US, %, 20042009 89
Table 50: Delta Petroleum Corporation, Revenue and Expenses, $m, 20042009 90
Table 51: Delta Petroleum Corporation, Revenue and Expenses, The US, $m, 20042009 94
Table 52: Delta Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 95
Table 53: Delta Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, The US, 20042009 99
Table 54: Delta Petroleum Corporation, Oil and Gas Performance Metrics, 20042009 100
Table 55: Delta Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 101
Table 56: Delta Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), The US, Acres, 20042009 104
Table 57: Delta Petroleum Corporation, Producible Oil and Gas Wells, 20042009 105
Table 58: Delta Petroleum Corporation, Producible Oil and Gas Wells, The US, 20042009 109
Table 59: Delta Petroleum Corporation, Exploratory and Developed Wells, 20042009 111
Table 60: Delta Petroleum Corporation, Exploratory and Developed Wells, The US, 20042009 112
Table 61: Delta Petroleum Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 20042009 113
Table 62: Delta Petroleum Corporation, Developed Reserves per Well, The US, Mboe per Well, 20042009 115
Figure 1: Delta Petroleum Corporation , The US Operations Map, 2010 10
Figure 2: Delta Petroleum Corporation , Financial and Operational Overview, 20062009 11
Figure 3: Delta Petroleum Corporation , Share Price Movement, April 2009April 2010 12
Figure 4: Delta Petroleum Corporation , CAPEX, Cash Flow from Operating Activities and Capex as Percentage of Operating Cash Flows (CFFO), 20052009 14
Figure 5: Delta Petroleum Corporation, Inflow, Outflow and Net cash position, 20062010 15
Figure 6: Delta Petroleum Corporation, Debt Maturity Schedule 16
Figure 7: Delta Petroleum Corporation and peers production profile, MMboe, 2009 17
Figure 8: Delta Petroleum Corporation , Vega Area Overview, 2010 18
Figure 9: Delta Petroleum Corporation , Piceance Overview, 2010 19
Figure 10: Delta Petroleum Corporation , Net Developed and Undeveloped Acreage, 20052009 19
Figure 11: Delta Petroleum Corporation, Total Production From Upstream Assets, MMboe, 20072014 23
Figure 12: Delta Petroleum Corporation, Total Cost Incurred, $m, 20042009 25
Figure 13: Delta Petroleum Corporation, Comparison of Exploration Cost and Reserve Addition Through Drill bit, 20062009 26
Figure 14: Delta Petroleum Corporation , Comparison of Acquisition Costs and Reserve Additions Through Acquisition, 20062009 27
Figure 15: Delta Petroleum Corporation and Peer Group, Relative Share Price Performance Index, 20092010 41
Figure 16: Delta Petroleum Corporation, F&D costs and Reserve Replacement Ratio, 2009 43
Figure 17: Delta Petroleum Corporation, Operational and Financial Parameters in $/boe, 2009 43
Figure 18: Delta Petroleum Corporation, Total Reserves and Production, MMboe, 2009 44
Figure 19: Delta Petroleum Corporation and Peer Group Comparison, Valuation Ratio, 2009 46
Figure 20: Delta Petroleum Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2009-Q1, 2010 48
Figure 21: Delta Petroleum Corporation, Upstream Capital Expenditure, $m, Q1, 2009-Q1, 2010 50
Figure 22: Delta Petroleum Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q1, 2009-Q1, 2010 51
Figure 23: Delta Petroleum Corporation, Total Oil & Gas Production, By US, MMboe, Q1, 2009-Q1, 2010 52
Figure 24: Delta Petroleum Corporation, Total Crude Oil Production, MMbbl, Q1, 2009-Q1, 2010 53
Figure 25: Delta Petroleum Corporation, Crude Oil Production, The US, MMbbl, Q1, 2009-Q1, 2010 54
Figure 26: Delta Petroleum Corporation, Total Natural Gas Production, Bcf, Q1, 2009-Q1, 2010 55
Figure 27: Delta Petroleum Corporation, Natural Gas Production, The US, Bcf, Q1, 2009-Q1, 2010 56
Figure 28: Delta Petroleum Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 20042009 58
Figure 29: Delta Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 20042009 59
Figure 30: Delta Petroleum Corporation, Total Proved Oil & Gas Reserves, The US, MMboe, 20042009 60
Figure 31: Delta Petroleum Corporation, Total Oil & Gas Production, The US, MMboe, 20042009 60
Figure 32: Delta Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 62
Figure 33: Delta Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 20042009 63
Figure 34: Delta Petroleum Corporation, Total Proved Oil Reserves, The US, MMbbl, 20042009 64
Figure 35: Delta Petroleum Corporation, Oil Production, The US, MMbbl, 20042009 64
Figure 36: Delta Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2009 66
Figure 37: Delta Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 20042009 67
Figure 38: Delta Petroleum Corporation, Total Proved Gas Reserves, The US, Bcf, 20042009 68
Figure 39: Delta Petroleum Corporation, Gas Production, The US, Bcf, 20042009 68
Figure 40: Delta Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2009 70
Figure 41: Delta Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 20042009 71
Figure 42: Delta Petroleum Corporation, Gas Reserve Life Index, The US, Years, 20042009 72
Figure 43: Delta Petroleum Corporation, Oil & Gas Reserve Life Index, The US, Years, 20042009 72
Figure 44: Delta Petroleum Corporation, Oil Reserve Life Index, The US, Years, 20042009 73
Figure 45: Delta Petroleum Corporation, Upstream Capital Expenditure, $m, 20042009 74
Figure 46: Delta Petroleum Corporation, Proved Acquisition Costs, The US, $m, 20042009 75
Figure 47: Delta Petroleum Corporation, Unproved Acquisition Costs, The US, $m, 20042009 75
Figure 48: Delta Petroleum Corporation, Development Costs, The US, $m, 20042009 77
Figure 49: Delta Petroleum Corporation, Exploration Costs, The US, $m, 20042009 77
Figure 50: Delta Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 20042009 79
Figure 51: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, The US, $/boe, 20042009 81
Figure 52: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, The US, $/boe, 20042009 81
Figure 53: Delta Petroleum Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, The US, $/boe, 20042009 82
Figure 54: Delta Petroleum Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, The US, $/boe, 20042009 82
Figure 55: Delta Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 20042009 84
Figure 56: Delta Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, The US, %, 20042009 86
Figure 57: Delta Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, The US, %, 20042009 86
Figure 58: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, The US, %, 20042009 87
Figure 59: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, The US, %, 20042009 87
Figure 60: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, The US, %, 20042009 88
Figure 61: Delta Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, The US, %, 20042009 88
Figure 62: Delta Petroleum Corporation, Revenue and Expenses, $m, 20042009 90
Figure 63: Delta Petroleum Corporation, Depreciation, Depletion & Amortization , The US, $m, 20042009 91
Figure 64: Delta Petroleum Corporation, Exploration Expenses, The US, $m, 20042009 91
Figure 65: Delta Petroleum Corporation, Net Income/ Loss, The US, $m, 20042009 92
Figure 66: Delta Petroleum Corporation, Oil & Gas Revenue, The US, $m, 20042009 92
Figure 67: Delta Petroleum Corporation, Pre-tax Profit, The US, $m, 20042009 93
Figure 68: Delta Petroleum Corporation, Production Expenses, The US, $m, 20042009 93
Figure 69: Delta Petroleum Corporation, Total Expenses, The US, $m, 20042009 94
Figure 70: Delta Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 20042009 95
Figure 71: Delta Petroleum Corporation, Exploration Expenses per boe, The US, $/boe, 20042009 96
Figure 72: Delta Petroleum Corporation, Lifting Cost per boe, The US, $/boe, 20042009 96
Figure 73: Delta Petroleum Corporation, Annual Net Income per boe, The US, $/boe, 20042009 97
Figure 74: Delta Petroleum Corporation, Oil & Gas Revenue per boe, The US, $/boe, 20042009 97
Figure 75: Delta Petroleum Corporation, Total DD&A per boe, The US, $/boe, 20042009 98
Figure 76: Delta Petroleum Corporation, Total Revenue per boe, The US, $/boe, 20042009 98
Figure 77: Delta Petroleum Corporation, Oil and Gas Performance Metrics, 20042009 100
Figure 78: Delta Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 20042009 101
Figure 79: Delta Petroleum Corporation, Total Gross Undeveloped Acreage, The US, Acres, 20042009 102
Figure 80: Delta Petroleum Corporation, Total Net Undeveloped Acreage, The US, Acres, 20042009 102
Figure 81: Delta Petroleum Corporation, Total Gross Developed Acreage, The US, Acres, 20042009 103
Figure 82: Delta Petroleum Corporation, Total Net Developed Acreage, The US, Acres, 20042009 103
Figure 83: Delta Petroleum Corporation, Producible Oil and Gas Wells, 20042009 105
Figure 84: Delta Petroleum Corporation, Gross Producible Gas Wells, The US, Number, 20042009 106
Figure 85: Delta Petroleum Corporation, Gross Producible Oil & Gas Wells, The US, Number, 20042009 106
Figure 86: Delta Petroleum Corporation, Gross Producible Oil Wells, The US, Number, 20042009 107
Figure 87: Delta Petroleum Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, The US, %, 20042009 107
Figure 88: Delta Petroleum Corporation, Net Producible Gas Wells, The US, Number, 20042009 108
Figure 89: Delta Petroleum Corporation, Net Producible Oil & Gas Wells, The US, Number, 20042009 108
Figure 90: Delta Petroleum Corporation, Net Producible Oil Wells, The US, Number, 20042009 109
Figure 91: Delta Petroleum Corporation, Exploratory and Developed Wells, 20042009 110
Figure 92: Delta Petroleum Corporation, Developed Gas Reserves per Well (MMcf per Well), The US, 20042009 114
Figure 93: Delta Petroleum Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), The US, 20042009 114
Figure 94: Delta Petroleum Corporation, Developed Oil Reserves per Well (Mbbls per Well), The US, 20042009 115