Delta releases financial and operating results

Delta Petroleum, an oil and gas exploration company, has announced its financial and operating results for the first quarter of 2010, reporting production of 5.0 billion cubic feet equivalents – a decrease of 20 per cent when compared with the first quarter of 2009.  

Total revenue decreased 25 per cent to $44m (£29m) in the quarter, versus revenue of $58.7m in the quarter ended 31 March 2009.  

For the quarter ended 31 March 2010, oil and gas sales increased 55 per cent to $34.5m, as compared to $22.2m for the prior-year period.  

The company reported a first-quarter net loss attributable to common stockholders of $12.8m, or $0.05 per share, compared with a net loss attributable to common stockholders of $25.6m, or $0.25 per share, in the first quarter of 2009.