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Former Delta Petroleum CEO Roger Parker Files Chapter 11

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Roger A. Parker, a key figure in a Denver insider-trading case, has filed for chapter 11 protection, the Denver Business Journal reported today. Parker, who the Securities and Exchange Commission accuses of feeding inside information about his company to a friend, listed both assets and liabilities in the range of $10 million to $50 million in his chapter 11 filing. Parker was CEO of Delta Petroleum from 2002 until he resigned in 2009, and had been in management with the company since 1987. Delta Petroleum filed for chapter 11 protection in December 2011. The reorganized company emerged as Par Petroleum and relocated its headquarters to Houston in September.

For more on oil, gas and other natural resources company bankruptcies, be sure to pick up a copy of ABI's When Gushers Go Dry: The Essentials of Oil & Gas Bankruptcy.