Berry Corp.

Berry Corp. today reported net loss of $65 million or $0.81 per diluted share and Adjusted Net Income of $5 million or $0.06 per diluted share for the second quarter of 2020. Quarterly Highlights Kept all employees safe and maintained continuous operations while planning for continued COVID/oil demand uncertainty Reduced Unhedged OpEx 16% quarter over quarter through our cost-savings initiative Generated positive Levered [...]

Berry Corp. today announced it will report its second quarter 2020 financial results on Tuesday, August 4, 2020 after the close of U.S financial markets. Berry will host a conference call on Wednesday, August 5, 2020 to discuss these results: Live Call Date: Wednesday, August 5, 2020 Live Call Time: 9:00 a.m. Eastern Time Live Call Dial-in: 877-491-5169 from the U.S. 720-405-2254 from international locations Live Call [...]

Berry Corp. today reported that it completed its semi-annual bank redetermination and reduced its RBL elected commitment to $200 million. This reduction equates to an annual savings of $1 million. “Berry has responsibly run its operations out of Levered Free Cash Flow1 since the current management team assumed leadership in mid-2017. We primarily use our RBL credit facility to manage working capital fluctuations and we [...]

Berry Corp. today reported net loss of $115 million or $1.45 per diluted share and Adjusted Net Income of $18 million or $0.23 per diluted share for the first quarter of 2020. Current Highlights Measures were taken to address the risks caused by the COVID-19 pandemic coupled with OPEC+ dynamics, with a focus on three priorities: taking care of our employees and communities, ensuring business continuity, and protecting the [...]

Berry Corp. today announced it will report its first quarter 2020 financial results on Wednesday, May 6, 2020 after the close of U.S financial markets. Berry will host a conference call on Thursday, May 7, 2020 to discuss these results: Live Call Date: Thursday, May 7, 2020 Live Call Time: 9:00 a.m. Eastern Time Live Call Dial-in: 877-491-5169 from the U.S. 720-405-2254 from international locations Live Call Passcode [...]

Berry Corporation today provided updated guidance in response to current market conditions. As of March 31, 2020, the Company has: Reduced planned 2020 capital expenditures by approximately 50% from original 2020 budget midpoint of guidance, which is a nearly 70% reduction from 2019 actual Targeted 2020 production as being flat to down 2% from 2019, which is consistent with our low corporate decline rate Temporarily [...]

Berry Corporation announced today that is has added more Brent-based oil hedges to protect cash flows for fiscal year 2020. The Company now has 24,000 oil barrels, or approximately 80% of its Brent-based production, hedged at $59.85 Brent through December 2020. This includes an additional 8,000 bbl/d added, running from April 2020 through year-end 2020, since the Company’s most recent earnings report on February 26 [...]

Berry Corporation today reported an 18% increase in fourth quarter 2019 production from its California assets over the prior year fourth quarter and it replaced nearly 300% of its California proved reserves. For the full year of 2019, Berry's net income was $44 million, or $0.53 per diluted share, and Adjusted Net Income was $110 million, or $1.35 per diluted share. For the fourth quarter of 2019, the net loss was $7 [...]

Berry Petroleum Corp. today announced it will report its fourth quarter and full-year 2019 financial results on Wednesday, February 26, 2020 after the close of U.S financial markets. Berry will host a conference call on Thursday, February 27, 2020 to discuss these results: Live Call Date: Thursday, February 27, 2020 Live Call Time: 9:00 a.m. Eastern Time Live Call Dial-in: 877-491-5169 from the U.S. 720-405-2254 from [...]

Berry Petroleum Corp. today announced it has enhanced its executive team with the addition of Danielle Hunter. Ms. Hunter joined the company on January 28, 2020 as executive vice-president, general counsel and corporate secretary. "Danielle is a proven leader with several years of experience as general counsel in the energy space," said Trem Smith, Berry’s President and Chief Executive Officer. "I look forward to [...]