Welcome to our dedicated page for Berry Corporation news (Ticker: BRY), a resource for investors and traders seeking the latest updates and insights on Berry Corporation stock.
Berry Corporation (BRY) was a Nasdaq-listed western United States independent upstream energy company focused on onshore, low geologic risk, long-lived oil and gas reserves. Company news and press releases provide insight into its operations in California’s San Joaquin Basin and Utah’s Uinta Basin, as well as its strategic decisions and, ultimately, its merger with California Resources Corporation (CRC).
Historically, Berry’s news flow has covered topics such as quarterly and annual financial and operational results, capital allocation, hedge and liquidity updates, and guidance for production and capital expenditures. Releases frequently highlighted production volumes, oil-weighted asset performance, and the company’s use of hedging to manage commodity price risk and support its capital program.
Another recurring theme in Berry’s announcements was its two-segment structure: exploration and production (E&P) and well servicing and abandonment services. News items described the performance of E&P assets in California and Utah and provided updates on well servicing and abandonment activities delivered through C&J Well Services (CJWS) in California, including services to third-party operators.
More recent news has focused on corporate transactions and governance, including the announcement of an all-stock combination with California Resources Corporation, the terms of the merger agreement, regulatory milestones such as Hart-Scott-Rodino waiting period expiration, shareholder voting results at the special meeting, and the closing of the merger. These items document the transition of Berry from an independent public company to a wholly owned subsidiary of CRC and the associated delisting of BRY from the Nasdaq Global Select Market.
This news page serves as an archive of Berry-related announcements, offering investors and researchers a way to review the company’s historical operating updates, financial disclosures, and the sequence of events leading to its combination with 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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