Delta: Strategic Summary
Poised for opportunity
Demand for oil and gas continues to grow. At the same time, production is not increasing. With natural gas the favored fuel source in America and very little additional production being developed, the prospect exists for significant upside potential. Demand has already leaped past existing supply. All it will take for prices to surge is one cold winter. Those companies in position to take advantage of increases in the price of oil and natural gas will reap the rewards of being prepared.
Delta works to increase net asset value by leveraging experience with modern technologies and strategic partnerships with industry leaders to maximize reservoir potential.
Delta Oil & Gas is focused on creating high impact development and exploration drilling in Canada and the United States while reducing risk through strategic partnerships with industry leaders. We were incorporated under the laws of the State of Colorado on January 9, 2001 under the name Delta Oil & Gas, Inc. The company works to minimize geological risk by focusing on properties with large, known hydrocarbon accumulations that have been overlooked. We then leverage geological experience together with modern drilling and completion technologies to maximize reservoir potential.
Delta maintains a low cost structure through relationships with established oil and gas companies and operators. The company continues to focus on increasing net asset value by participating in an active drilling program in partnership with our strategic relationships.
We are engaged in the acquisition, development and production of oil and natural gas properties in North America. We seek to acquire and develop properties with undeveloped reserves that are economically attractive to us. We will employ expertise in geological and geophysical areas to mitigate, as far possible, the inherent risk of oil and gas exploration.
We seek to create value and reduce risks through the acquisition and development of properties in areas that have:
- Significant undeveloped reserves;
- Close proximity to developed markets for oil and natural gas;
- Existing infrastructure or the ability to install our own infrastructure of oil and natural gas pipelines and production platforms.
During the 1st and 2nd Quarters of 2010, Management engaged in a detailed strategic review of all of our development lands, exploratory lands and working interest Partners held at that time. The outcome of these reviews lead to an internal declaration of core and non-core properties. Those properties within the ‘Core’ were to receive priority focus for development and expansion and those in the ‘non-core’ grouping were to be considered as low priority for development and considered for divestment should offers fall within range of their true values.
Historically, Delta has taken small working interest positions in multiple and diverse projects. Under our new Core / Non-core strategy Delta will generally focus on larger working interest relationships in substantive project areas and move to strategically explore and develop those projects. The sale of our Saskatchewan, Canada Wordsworth interests are a case in point. We believe that this core strategy will enable us to develop Delta Oil and Gas to the next level in its growth towards becoming a significant oil and natural gas producing entity.
Our current focus is on the exploration of our Core land portfolio comprised of substantial working interests in acreage in King City, California; Northern California and Eastern Texas.
Our producing interests in South Central Oklahoma contribute strong cash flow to Delta but because our working interests fall below Management’s threshold for participating working interest percentages, they been designated as non-core.
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- 09/19/2012 Delta Oil & Gas Identifies Several Pay Zones in its new Texas Drilling Prospect
- 09/12/2012 Delta announces new partner on King City oilfields project
- 01/09/2012 Delta drills first well at its King City, California prospect
- 08/31/2011 Delta achieves stabilized production on Donner #2 Well in Texas prospect
- 07/25/2011 Delta Completes Second Texas Prospect Well