Delta Petroleum Corp. (NASDAQ:DPTR)
About Delta Petroleum Corp. (NASDAQ:DPTR) Delta Petroleum Corporation (Delta) is an independent oil and gas company engaged primarily in the exploration for, and the acquisition, development, production, and sale of, natural gas and crude oil. Delta operated in two business segments: acquisition, exploration, development, and production of oil and natural gas properties and related business activities, and contract oil and natural gas drilling operations. The primary areas of activity are in the Rocky Mountain and Gulf Coast Regions with additional unproved exploratory leaseholds in the Columbia River Basin in southeastern Washington, the Hingeline area of Central Utah, and the Haynesville Shale area of Texas, among others. Total oil and gas leasehold is approximately 813,000 acres.
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Financials Delta Petroleum Corp. (NASDAQ:DPTR) engendered total revenue of $35.44 million in current quarter which is noticeably less than previous quarter’s revenue of $74.96 million. Moreover, operating and net income both have decreased that resulted in decrease in EPS which is not a good sign for the investors. The company’s cash flow from operation has gone down to negative $25.96 million which is greater than last quarter’s ending CFO of negative $23.27 billion in last quarter. Negative CFO shows that the company generated less cash than its expenses. According to present quarter’s ending financials as on September 30, 2010 the company’s total assets mount up to $1.14 billion. Return on equity and return on assets both are decreasing. Total liabilities and total equity stand at $600.79 million and $545.57 million respectively.
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