Delta International Oil & Gas Inc., headquartered in Scottsdale, AZ is an International company specializing in energy. Until recently, Delta’s primary focus was in oil and gas exploration in northern Argentina via its subsidiary SAHF, LLC. In 2017, upon an evaluation of the US domestic E&P market, the Company decided to focus its investments locally.
Delta’s domestic oil and gas acquisition strategy began in the second quarter of 2017 with a debt/equity investment in a company that is performing rework on gas wells in California. This field has produced over 200 billion mcf from 11 different formations. The Company is also looking at other opportunities in Texas, Oklahoma, and California to continue its strategy execution.
Additionally, Delta is prospecting its entry into the water sector. The Company made an initial investment into a water propulsion company in 2016.
- Ownership changes
- Old Management dismissed; new management steps
- Delta begins its Argentina-focused investment
- Jollin, Tonono, Tartagal, Morillo, and Guemes properties in Salta are drilled and oil is discovered
- Sale of 50% of some properties is executed with PPL
- Malcolm Sherman becomes CEO and Phil Smith becomes Chairman of the Board
- PPL defaults in all of its agreement with the Company for lack of payment
- Management evaluates other producing areas in Argentina for acquisition, but no additional areas are acquired
- Projects outside of Argentina are evaluated
- Mr. Sherman and Mr. Smith retire from the Company and Mr. Santiago Peralta takes over as CEO
- Company invests in water propulsion technology company
- Company terminates its agreements with PPL and signs agreement with High Luck for the sale of 18% of Tartagal and Morillo
- Company signs and executes agreement for the transfer of 100% of its interest in SAHF, LLC
- Company signs LOI for purchase of test equipment companies, but cancels them after due diligence
- Company invests in California gas rework operator as first acquisition in new US-focused energy strategy