Billionaire investor Kirk Kerkorian gained tighter control over Delta Petroleum Corp. Wednesday as the top executive of the struggling oil-and-gas producer stepped down and a Kerkorian ally was installed as chairman.

Denver-based Delta Petroleum — which is 34.1 percent-owned by Kerkorian’s Tracinda Corp. investment firm — said Roger Parker was resigning immediately as chairman and CEO. Delta board member Daniel Taylor, an executive at Tracinda, will succeed Parker as chairman, the company said. Delta President John Wallace will run the company while it searches for a new CEO, the company said.

Kerkorian, through Tracinda, paid $684 million, or $19 a share, for a 35% stake in Delta at the end of 2007 and has continued to buy shares since then. But Delta’s share price collapsed in the past year, to under $2, leaving Kerkorian’s stake valued at about $167 million. Delta posted a 2008 loss of $452 million on $271 million in revenue.

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