Berry Corporation Stock Price, News & Analysis

Berry (BRY) has strengthened its hedge and liquidity position, demonstrating financial resilience in the current commodity market. The company increased its average hedged price by $6 per barrel on 2.3 MBbls/d for 2026 and 2027. Oil volumes are now 73% hedged for remainder of 2025 at $74.69/Bbl Brent and 63% hedged for 2026.

The company's mark-to-market position for crude oil stands at $105 million as of April 21, 2025. Berry's liquidity reached $120 million as of March 31, 2025, including $39 million in cash and cash equivalents, $49 million in available revolving credit, and $32 million in delayed draw borrowings. As of April 22, 2025, total liquidity was $119 million with $14 million in letters of credit.

CEO Fernando Araujo emphasized that Berry's favorable hedge position aligns with their strategy to deliver sustainable cash flow through commodity price cycles, supported by shallow decline rate and low capital intensity assets.

Berry (BRY) has scheduled its first quarter 2025 earnings release and conference call. The company will release its Q1 2025 financial results on Thursday, May 8, 2025, before U.S. financial markets open.

A conference call and webcast will follow on the same day at 11:00 am Eastern Time (10:00 am Central Time / 8:00 am Pacific Time). Investors can participate through a live listen-only audio webcast or join via phone using the toll-free number (800) 715-9871 with passcode 6035522.

The audio replay will be available shortly after the broadcast and archived on the company's investor relations website.

Berry (BRY) has appointed Jenarae Garland as Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer, effective immediately. Garland joins Berry with extensive industry experience from her previous roles at major energy corporations.

Prior to this appointment, Garland served as Deputy General Counsel, Corporate and Assistant Corporate Secretary at Phillips 66, and previously held leadership positions at Occidental Petroleum , including Assistant General Counsel for Oxy Low Carbon Ventures. She began her career at Vinson & Elkins LLP, focusing on energy industry clients.

CEO Fernando Araujo expressed confidence that Garland's appointment will help accelerate growth, drive high-performance culture, and create long-term value for the company and stakeholders. Garland holds a BS in Communications from the University of Texas at Austin and graduated magna cum laude from Tulane University Law School.

Berry (BRY) has released its Q4 and full-year 2024 financial results, reporting strong operational performance. The company achieved net income of $19 million ($0.25 per diluted share) for full-year 2024, with operating cash flow of $210 million and Adjusted EBITDA of $292 million.

Key highlights include production of 25.4 MBoe/d (93% oil), a 12% year-over-year reduction in LOE, and an 80% reduction in methane emissions. Year-end proved reserves increased 4% to 107 MMBoe with a PV-10 value of $2.3 billion.

For 2025, Berry projects production of 24.8-26.0 MBoe/d with a capital program of $110-120 million. The company declared a quarterly dividend of $0.03 per share, representing a 3% annual yield. Approximately 40% of 2025's capital will be directed to Utah operations, up from 25% in 2024.

Berry (BRY) has scheduled its fourth quarter and full year 2024 earnings release for Wednesday, March 12, 2025, after U.S. financial markets close. The company will host a conference call and webcast on Thursday, March 13, 2025, at 11:00 a.m. Eastern Time to discuss the results.

Interested parties can join the live audio webcast through the company's website or register in advance to participate in the Q&A session. A web-based audio replay will be available shortly after the broadcast and will be archived on Berry's investor relations website.

Cadence Bank (NYSE: CADE) has appointed two new independent directors to its board, effective January 17, 2025. Fernando Araujo, current CEO of Berry , brings over 30 years of oil and gas upstream operations experience, having previously worked with industry leaders like Schlumberger, Apache , Repsol S.A., and Shell Oil.

Alice Rodriguez, with over 35 years of experience at JPMorgan Chase & Co., joins the board after serving as head of JPMorgan's community impact organization. She is also co-owner of Kendall Milagro, a Dallas-based boutique home builder, and previously served as chair of the U.S. Hispanic Chamber of Commerce from 2020-2022.

Both appointments aim to strengthen Cadence Bank's leadership with diverse expertise in regulated industries, banking operations, and community development.

Berry (NASDAQ: BRY) has announced the appointment of Jeff Magids as Vice President and Chief Financial Officer, effective January 21, 2025. Mike Helm will continue as Vice President, Chief Accounting Officer. Magids brings over 15 years of oil and gas industry experience, most recently serving as Vice President of Finance & Investor Relations at SilverBow Resources.

Magids' background includes positions at Lime Rock Resources, BMO Capital Markets' energy investment banking group, and Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. The appointment aims to enhance Berry's financial and strategic leadership capabilities, focusing on sustainable growth, value creation, and balance sheet optimization.

Berry (BRY) has successfully completed a comprehensive refinancing of its existing debt on December 24, 2024. The transaction includes a $450 million borrowing under the Term Loan Credit Agreement and a three-year reserve-based revolving loan with a maximum commitment of $500 million.

The refinancing provides Berry with over $100 million in liquidity at closing and extends debt maturities, enabling the company to execute its development plans, particularly in Utah. The proceeds will fund the full redemption of the 7.000% Senior Notes due 2026 and support capital expenditures. The initial borrowing base is set at $95 million with elected commitments of $63 million until Spring 2025.

Berry (BRY) reported third quarter 2024 results with production averaging 24,800 BOE per day. The company announced a new $545 million term loan facility to refinance debt, including redemption of $400 million notes due 2026. Free Cash Flow increased 55% quarter-over-quarter to $45 million, while maintaining steady Cash Flow from Operations at $71 million. The company declared quarterly fixed dividends of $0.03 per share and expects 2024 production to reach the mid-point of guidance (24,600-25,800 BOE/day). Berry also executed a new farm-in agreement in the Uinta Basin covering 5,800 gross acres and reported promising results from California operations.