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.
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DALLAS, April 04, 2023 (GLOBE NEWSWIRE) -- Berry Corporation (BRY) announced it will report its first quarter 2023 financial results on May 3, before U.S. markets open. A conference call will be held the same day at 11:00 a.m. Eastern Time to discuss these results. Interested parties can join the live audio webcast through provided links. For those who wish to participate in the Q&A, preregistration is required to receive dial-in details and a unique PIN. After the live broadcast, an audio replay will be accessible on the company's website.
Berry Corporation (BRY) reported its fourth quarter and full-year 2022 results with a net income of $72 million, or $0.90 per diluted share for Q4, and a total net income of $250 million, or $3.03 per diluted share for the year. Adjusted EBITDA for 2022 stood at $380 million. Shareholder returns amounted to $189 million, including a planned increase in fixed dividends to $0.48 annually starting Q1 2023. However, fourth quarter performance declined from Q3, largely due to lower commodity prices and increased operational costs. Berry expects a slight drop in annual production for 2023, impacted by permit delays, while maintaining a focus on maximizing free cash flow and shareholder returns.
Berry Corporation (BRY) announced that it will report its fourth quarter and full year 2022 financial results on February 22, 2023, before the U.S. markets open. A conference call is scheduled for the same day at 11:00 a.m. ET, during which the results will be discussed.
For those interested in participating, a live audio webcast can be accessed via this link.
Berry Corporation (BRY) announced significant changes to its executive team, effective January 1, 2023. Trem Smith transitions to Executive Chairman, while Fernando Araujo steps up as CEO, eliminating the COO role. Danielle Hunter becomes President overseeing critical functions, and Mike Helm is appointed CFO. Smith praised Araujo’s operational expertise and leadership. The company aims to strengthen operations, reduce expenses, and enhance shareholder returns through a proven business model and cash flow generation.
Berry Corporation (BRY) reported third quarter 2022 results showing a net income of $192 million, or $2.34 per diluted share. Adjusted EBITDA was $97 million, with discretionary free cash flow of $53 million. The Board declared quarterly dividends of $0.47 per share, totaling $1.34 for 2022 to date. Daily production averaged 25,800 boe/d, down from 26,200 boe/d in Q2. Operating expenses rose by 2%. Guidance for FY 2022 was revised, anticipating capital expenditures between $140 million and $145 million due to inflationary pressures.
Berry Corporation (BRY) announced it will release its Q3 2022 financial results on November 2, 2022, before U.S. markets open. A conference call to discuss these results will follow at 11:00 a.m. ET. Interested parties can join the live audio webcast through the provided links. Registration for questions during the call is available, and a replay will be accessible post-broadcast. Berry focuses on onshore low-risk conventional oil reserves in California's San Joaquin basin.
Berry Corporation (BRY) reported strong second quarter 2022 results with net income of $43 million ($0.52 per diluted share) and Adjusted EBITDA of $110 million, marking a 15% increase from the previous quarter. The company declared a total dividend of $0.62 per share and generated $74 million in discretionary free cash flow. Daily production averaged 26,200 boe/d, slightly down from the prior quarter. Additionally, Berry initiated a promising development for Thermal Diatomite production and continued its early stage CCS efforts while managing operational costs amidst inflationary pressures.
Berry Corporation (BRY) will release its second quarter 2022 financial results on August 3, 2022, before U.S. markets open. Following the report, a conference call will be held at 11:00 a.m. Eastern Time to discuss the results. Interested parties can join the live audio webcast through the provided links or preregister for a Q&A session. A replay of the call will be available afterward on the company's website. Berry operates in the upstream energy sector in California, focusing on conventional oil reserves.
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