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Oil and gas company: Berry Petroleum Corp (BRY)

Berry Petroleum Corp (NASDAQ: BRY) was founded in 1909, formerly known as Berry Petroleum Company, LLC. It is headquartered in Bakersfield, California, and has an office in Dallas, Texas. It has 278 full-time employees (12/ 31/2017) is an independent upstream energy company, mainly engaged in the development and production of conventional oil reserves in the western United States.

Berry Petroleum Corp

 

Berry Petroleum Corp (BRY) US stock:

Berry Petroleum Company is an oil, natural gas and natural gas liquids exploration and production company located in Bakersfield, California. The company’s goals are low-cost, low-risk, oil-rich onshore reservoirs in the San Joaquin Basin of California and Uinta Basin of Utah, and, to a lesser extent, natural gas resources with low geological risk in the Piceance Basin of Colorado.

Currently, Berry Petroleum Corp operates 46% in California, 23% in the Permian Basin, and 13% in the Uintah Basin.

As of December 31, 2017, Berry Petroleum Corp estimated total proven reserves of 141,384 MBoe. For the three months ended March 31, 2018, the company’s average production was approximately 26.2 MBoe/d, of which approximately 81% was oil. In California, for the three months ended March 31, 2018, Berry Petroleum’s average production was 18.8 MBoe/d, of which approximately 100% was oil.

Berry Petroleum Corp (BRY) History:

In 1909, Clarence Berry founded the Berry Petroleum Company in California.

  • In December 1993, an oil pipeline owned by Berry Petroleum leaked, causing 84,000 gallons of heavy crude oil to leak into Lake McGrath near Oxnard, California.
  • In August 1996, Berry Petroleum acquired Tannehill Oil and its affiliates for US$25.2 million.
  • In 2003, Berry acquired the Uintah Basin assets in northwestern Utah.
  • In February 2013, Linn Energy acquired Berry Petroleum Company for $4.3 billion, including $2.5 billion in stock.
  • In February 2017, Linn Energy completed a financial reorganization, which included the spin-off of Berry Petroleum into another company with independent ownership.

Berry Petroleum Corp (BRY) investment:

Berry Petroleum Corp (NASDAQ:BRY) submitted its IPO prospectus on 6/29/2018 and listed on NASDAQ on 7/26/2018. The planned issue price is US$15.00-17.00, the actual issue price is US$14, and 18.75 million shares are issued. , Raised 262.5 million US dollars, and jointly underwritten by Goldman Sachs / Wells Fargo Securities / BMO Capital Markets .

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