Welcome to our dedicated page for Berry news (Ticker: BRY), a resource for investors and traders seeking the latest updates and insights on Berry stock.
Berry Corporation (BRY) was a western United States independent upstream energy company focused on onshore, low-geologic-risk, long-lived oil and gas reserves before its completed combination with California Resources Corporation. Company news covered exploration and production activity in California’s San Joaquin Basin and Utah’s Uinta Basin, well servicing and abandonment work through C&J Well Services, and operating updates tied to oil-heavy production, hedging, liquidity, debt reduction, safety metrics and quarterly dividends.
Recurring corporate developments also included earnings releases, conference-call notices, shareholder voting matters and merger-related disclosures culminating in Berry becoming a direct, wholly owned subsidiary of California Resources Corporation.
Berry (NASDAQ: BRY) has announced it will report its second quarter 2024 results on Friday, August 9, 2024, before the U.S. financial markets open. The company will host a conference call and webcast on the same day to discuss these results. The earnings call is scheduled for 8:30 am Eastern Time (7:30 am Central Time / 5:30 am Pacific Time).
Interested parties can join the live audio webcast or preregister to ask questions on the live call. A web-based audio replay will be available shortly after the broadcast and will be archived on the company's website.
Berry reported first quarter 2024 financial results, achieving solid operational and financial performance. The company produced 25,400 boe/d, declared a fixed dividend of $0.12 per share, acquired greenhouse gas allowances at a discount, signed an agreement for horizontal wells in Utah, and acquired working interest in Kern County, CA. The company maintained strong safety records, issued a Sustainable Business Report, and set goals for methane emissions reduction. Despite a net loss, the company had resilient results with adjusted EBITDA of $69 million. Berry's CFO highlighted cost management savings and plans for debt reduction. Key financials included $166 million in revenues, $11 million in adjusted net income, $27 million cash flow from operations, and $69 million in adjusted EBITDA for the first quarter of 2024. The company maintained liquidity of $149 million as of March 31, 2024. Quarterly dividends of $0.12 per share were declared, payable on May 24, 2024. The company will host an earnings conference call on May 1, 2024.
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