‘Derelict’ is an editing project for academic purposes. ‘Prometheus’ wasn’t exactly an Alien prequel, but this treats it as such by intercutting the events of Alien with Prometheus in a dual narrative structure. The goal was to assemble the material to emphasize the strengths of Prometheus as well as its ties to Alien.

‘Derelict’ is also in black & white to better marry the visual quality of the two originals (and also because both films look great in black & white). Roughly 30 minutes has been cut from Prometheus and about an hour of Alien has been used in its place. Some content from the deleted scenes of Prometheus was also used.

Source: Prometheus + Alien = ‘Derelict’

The 30 minutes that was cut from the film wasn’t missed at all, I only had a single “wtf are they even thinking” moment with this version of the film.  The original Promethus had several, the ones that I still remember include opening alien jars without any reason, playing with aliens snakes, running the wrong way when a space ship is falling on you… All and all this was a good marriage and both films come out better for the pairing.  That being said, looks like all the streaming versions of the film have been nuked from orbit, but an enterprising person would be able to find them.