Delta Petroleum Corp., Denver, (Nasdaq: DPTR) has acquired assets in the Columbia River Basin of Washington and Oregon in two transactions.

In the first deal, Delta has acquired of the net leasehold acreage in the Washington portion of the assets from EnCana USA Inc., a subsidiary of EnCana Corp., Calgary, (Toronto: ECA) for an undisclosed price. Delta now has approximately 844,000 total leasehold acres.

Secondly, Delta has entered a joint venture with an undisclosed major Canadian energy company a 50% working interest participation in all its basin leasehold and wells. Delta and this partner plan to drill at least three wells in the basin, including the Gray 31-23.

Delta’s position in the basin will be approximately 422,000 net acres, which is unchanged relative to the company's pre-transactions position.

Delta chairman and chief executive Roger Parker says, “We are very pleased to have signed agreements for these two important transactions, which combined will serve to diversify some of our exploration risk, while preserving significant exposure to the vast upside potential that we believe exists in the CRB. With the execution of the joint-venture agreement with our new partner, along with an agreement to drill three wells, we can ensure to further test the merits of the basin.” SJP