Berry Corporation Announces Finance Team Leadership Changes
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 (NASDAQ: BRY) ha annunciato la nomina di Jeff Magids come Vice Presidente e Direttore Finanziario, con effetto dal 21 gennaio 2025. Mike Helm continuerà come Vice Presidente e Direttore della Contabilità. Magids porta oltre 15 anni di esperienza nel settore del petrolio e del gas, avendo recentemente ricoperto il ruolo di Vice Presidente delle Finanze e dei Rapporti con gli Investitori presso SilverBow Resources.
Il background di Magids include posizioni presso Lime Rock Resources, il gruppo di investment banking energetico di BMO Capital Markets e Duff & Phelps. Possiede un BBA in Finanza presso l'Università del Texas ad Austin e un MBA presso la Rice University. La nomina mira a migliorare le capacità di leadership finanziaria e strategica di Berry, con un focus sulla crescita sostenibile, la creazione di valore e l'ottimizzazione del bilancio.
Berry (NASDAQ: BRY) ha anunciado el nombramiento de Jeff Magids como Vicepresidente y Director Financiero, con efecto a partir del 21 de enero de 2025. Mike Helm continuará como Vicepresidente y Director de Contabilidad. Magids aporta más de 15 años de experiencia en la industria del petróleo y el gas, habiendo servido recientemente como Vicepresidente de Finanzas y Relaciones con Inversores en SilverBow Resources.
El historial de Magids incluye posiciones en Lime Rock Resources, el grupo de banca de inversión energética de BMO Capital Markets y Duff & Phelps. Tiene una BBA en Finanzas de la Universidad de Texas en Austin y un MBA de la Universidad Rice. La designación tiene como objetivo mejorar las capacidades de liderazgo financiero y estratégico de Berry, enfocándose en el crecimiento sostenible, la creación de valor y la optimización del balance.
Berry (NASDAQ: BRY)는 Jeff Magids를 부사장 겸 최고재무책임자로 임명했다고 발표했으며, 이는 2025년 1월 21일부로 시행됩니다. Mike Helm은 계속해서 부사장 겸 회계 책임자로 재직할 예정입니다. Magids는 15년 이상의 석유 및 가스 산업 경험을 보유하고 있으며, 최근에는 SilverBow Resources에서 재무 및 투자자 관계 부사장으로 근무했습니다.
Magids의 경력에는 Lime Rock Resources, BMO Capital Markets의 에너지 투자 은행 그룹 및 Duff & Phelps에서의 직책이 포함됩니다. 그는 텍사스 대학교 오스틴 캠퍼스에서 재무학 BBA를 취득했으며, 라이스 대학교에서 MBA를 취득했습니다. 이번 임명은 Berry의 재무 및 전략적 리더십 능력을 강화하여 지속 가능한 성장, 가치 창출 및 재무상태 최적화에 초점을 맞추고자 합니다.
Berry (NASDAQ: BRY) a annoncé la nomination de Jeff Magids au poste de Vice-Président et Directeur Financier, à compter du 21 janvier 2025. Mike Helm continuera en tant que Vice-Président et Directeur Comptable. Magids apporte plus de 15 ans d'expérience dans l'industrie pétrolière et gazière, ayant récemment occupé le poste de Vice-Président des Finances et des Relations avec les Investisseurs chez SilverBow Resources.
Le parcours de Magids comprend des postes chez Lime Rock Resources, le groupe de banque d'investissement énergétique de BMO Capital Markets et Duff & Phelps. Il est diplômé d'un BBA en Finance de l'Université du Texas à Austin et d'un MBA de l'Université Rice. Cette nomination vise à renforcer les capacités de leadership financier et stratégique de Berry, en se concentrant sur la croissance durable, la création de valeur et l'optimisation du bilan.
Berry (NASDAQ: BRY) hat die Ernennung von Jeff Magids zum Vizepräsidenten und Chief Financial Officer bekannt gegeben, die am 21. Januar 2025 wirksam wird. Mike Helm wird weiterhin als Vizepräsident und Chief Accounting Officer tätig sein. Magids bringt über 15 Jahre Erfahrung in der Öl- und Gasindustrie mit, wo er zuletzt als Vizepräsident für Finanzen und Investor Relations bei SilverBow Resources tätig war.
Magids' Hintergrund umfasst Positionen bei Lime Rock Resources, der Energiesparte von BMO Capital Markets sowie bei Duff & Phelps. Er hat einen BBA in Finanzwesen von der University of Texas at Austin und einen MBA von der Rice University. Die Ernennung zielt darauf ab, die finanziellen und strategischen Führungskompetenzen von Berry zu verbessern, mit einem Fokus auf nachhaltiges Wachstum, Wertschöpfung und die Optimierung der Bilanz.
- Appointment of experienced CFO with 15+ years in oil and gas industry
- Strategic focus on deleveraging and balance sheet optimization
- Retention of existing Chief Accounting Officer ensures operational continuity
- Strong asset portfolio in California and growth opportunities in Utah's Uinta Basin
- None.
DALLAS, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today announced the appointment of Jeff Magids as the Company’s Vice President, Chief Financial Officer, effective January 21, 2025. Mike Helm will continue in his position as Vice President, Chief Accounting Officer. Jeff’s extensive experience, including in finance, capital markets and M&A, enhances the Company’s financial and strategic leadership capabilities and underscores the Company’s focus on delivering sustainable, long-term growth and value creation.
“I am excited to welcome Jeff to the team. His experience is well aligned with our strategy and will help drive us forward as we focus on a disciplined approach to delivering sustainable, long-term growth and creating shareholder value while deleveraging and optimizing our balance sheet,” commented Fernando Araujo, Chief Executive Officer.
“On behalf of Berry’s Board of Directors and executive leadership team, I want to thank Mike for his dedication and ongoing contributions to our Company that have positioned us for sustained growth and long-term success. Mike has been instrumental in building and leading our finance and accounting teams and helping navigate the business through significant transitions. We are grateful for Mike’s ongoing support as we execute on our strategy,” Araujo concluded.
Jeff Magids has over 15 years of experience in the oil and gas industry, with a significant background in financial and strategic leadership. Mr. Magids most recently served as Vice President of Finance & Investor Relations at SilverBow Resources, Inc. (now Crescent Energy Company), where he was responsible for the finance, investor relations, treasury, and risk management functions. Prior to SilverBow, Mr. Magids served as a Senior Associate at Lime Rock Resources. Prior to that, Mr. Magids worked in the energy investment banking group at BMO Capital Markets. Mr. Magids started his career in the valuation advisory practice at Duff & Phelps (now Kroll). Mr. Magids holds a Bachelor of Business Administration in Finance from the University of Texas at Austin and a Master of Business Administration from Rice University.
Mr. Magids said, “I am excited to join Berry and to collaborate with the entire team to build on their track record of strong financial results and shareholder returns. With a world-class asset base in California and exciting growth opportunities in Utah’s emerging Uinta Basin, Berry is well positioned to advance its strategic goals. On top of these value creating catalysts, I look forward to helping drive the Company’s financial strategy, which is rooted in disciplined capital deployment that generates free cash flow while driving sustainable, long-term value for all of Berry’s stakeholders.”
About Berry Corporation (BRY)
Berry is a publicly traded (NASDAQ: BRY) western United States independent upstream energy company with a focus on onshore, low geologic risk, low decline, long-lived oil and gas reserves. We operate in two business segments: (i) exploration and production (“E&P”) and (ii) well servicing and abandonment. Our E&P assets are located in California and Utah, are characterized by high oil content and are predominantly located in rural areas with low population. Our California assets are in the San Joaquin basin (
Forward Looking Statements
This news release contains forward-looking statements. Berry's management believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove correct. A number of factors could cause actual results to differ materially from the projections, anticipated results, or other expectations expressed in this news release. These factors include our ability to meet financial guidance or distribution expectations; our ability to safely and efficiently operate Berry's assets; the supply of, demand for, and price of oil, natural gas, NGLs, and related products or services; our capital program and development and production plans; potential acquisitions and other strategic opportunities; reserves; hedging activities; and the other factors described in the "Risk Factors" section of Berry's most-recent Form 10-K filed with the Securities and Exchange Commission and other public filings and press releases. Berry undertakes no obligation to publicly update or revise any forward-looking statements.
FAQ
Who is the new CFO of Berry (BRY) as of January 21, 2025?
What is Jeff Magids' previous experience before joining Berry (BRY)?
What are Berry 's (BRY) main strategic focuses under the new CFO?
What are Berry 's (BRY) key asset locations as of 2025?
