Berry Corporation Provides Update on Strong Hedge and Liquidity Position Underpinning Stable Cash Flow Generation; Announces Upcoming Conference Participation
Berry (BRY) has strengthened its hedge and liquidity position, demonstrating financial resilience in the current commodity market. The company increased its average hedged price by $6 per barrel on 2.3 MBbls/d for 2026 and 2027. Oil volumes are now 73% hedged for remainder of 2025 at $74.69/Bbl Brent and 63% hedged for 2026.
The company's mark-to-market position for crude oil stands at $105 million as of April 21, 2025. Berry's liquidity reached $120 million as of March 31, 2025, including $39 million in cash and cash equivalents, $49 million in available revolving credit, and $32 million in delayed draw borrowings. As of April 22, 2025, total liquidity was $119 million with $14 million in letters of credit.
CEO Fernando Araujo emphasized that Berry's favorable hedge position aligns with their strategy to deliver sustainable cash flow through commodity price cycles, supported by shallow decline rate and low capital intensity assets.
Berry (BRY) ha rafforzato la sua posizione di copertura e liquidità, dimostrando una solida resilienza finanziaria nell'attuale mercato delle materie prime. L'azienda ha aumentato il prezzo medio coperto di 6 dollari al barile su 2,3 MBbl/g per il 2026 e il 2027. Il volume di petrolio è ora coperto al 73% per il resto del 2025 a 74,69 $/Bbl Brent e al 63% per il 2026.
La posizione mark-to-market della società sul petrolio greggio è pari a 105 milioni di dollari al 21 aprile 2025. La liquidità di Berry ha raggiunto i 120 milioni di dollari al 31 marzo 2025, comprendendo 39 milioni in contanti e equivalenti, 49 milioni di credito revolving disponibile e 32 milioni di prestiti a prelievo differito. Al 22 aprile 2025, la liquidità totale era di 119 milioni di dollari con 14 milioni in lettere di credito.
Il CEO Fernando Araujo ha sottolineato che la favorevole posizione di copertura di Berry è in linea con la strategia di garantire un flusso di cassa sostenibile attraverso i cicli dei prezzi delle materie prime, supportata da un tasso di declino contenuto e da asset a bassa intensità di capitale.
Berry (BRY) ha fortalecido su posición de cobertura y liquidez, demostrando resiliencia financiera en el actual mercado de materias primas. La empresa incrementó su precio promedio cubierto en 6 dólares por barril sobre 2,3 MBbl/d para 2026 y 2027. Los volúmenes de petróleo ahora están cubiertos en un 73% para el resto de 2025 a 74,69 $/Bbl Brent y en un 63% para 2026.
La posición mark-to-market de la compañía sobre el crudo es de 105 millones de dólares al 21 de abril de 2025. La liquidez de Berry alcanzó los 120 millones de dólares al 31 de marzo de 2025, incluyendo 39 millones en efectivo y equivalentes, 49 millones en crédito revolvente disponible y 32 millones en préstamos con desembolso diferido. Al 22 de abril de 2025, la liquidez total era de 119 millones de dólares con 14 millones en cartas de crédito.
El CEO Fernando Araujo enfatizó que la favorable posición de cobertura de Berry está alineada con su estrategia de ofrecer un flujo de caja sostenible a través de los ciclos de precios de las materias primas, respaldada por una tasa de declive baja y activos de baja intensidad de capital.
베리(BRY)는 헤지 및 유동성 포지션을 강화하여 현재 원자재 시장에서 재무적 회복력을 입증했습니다. 회사는 2026년과 2027년에 대해 일평균 230만 배럴(2.3 MBbls/d)에 대해 헤지 평균 가격을 배럴당 6달러 인상했습니다. 2025년 남은 기간 동안 원유 물량의 73%가 배럴당 74.69달러 브렌트 가격으로 헤지되어 있으며, 2026년에는 63%가 헤지되어 있습니다.
2025년 4월 21일 기준 회사의 원유 마크투마켓 포지션은 1억 500만 달러입니다. 베리의 유동성은 2025년 3월 31일 기준 현금 및 현금성 자산 3,900만 달러, 사용 가능한 리볼빙 크레딧 4,900만 달러, 지연 인출 차입금 3,200만 달러를 포함해 총 1억 2,000만 달러에 달했습니다. 2025년 4월 22일 기준 총 유동성은 신용장 1,400만 달러를 포함해 1억 1,900만 달러입니다.
CEO 페르난도 아라우호는 베리의 유리한 헤지 포지션이 얕은 생산 감소율과 낮은 자본 집약적 자산에 기반해 원자재 가격 주기 동안 지속 가능한 현금 흐름을 제공하려는 전략과 부합한다고 강조했습니다.
Berry (BRY) a renforcé sa position de couverture et de liquidité, démontrant une résilience financière dans le contexte actuel du marché des matières premières. La société a augmenté son prix moyen couvert de 6 dollars par baril sur 2,3 MBbls/j pour 2026 et 2027. Les volumes de pétrole sont désormais couverts à 73 % pour le reste de 2025 à 74,69 $/Bbl Brent et à 63 % pour 2026.
La position mark-to-market de la société sur le pétrole brut s'élève à 105 millions de dollars au 21 avril 2025. La liquidité de Berry a atteint 120 millions de dollars au 31 mars 2025, comprenant 39 millions en liquidités et équivalents, 49 millions de crédit renouvelable disponible et 32 millions d'emprunts à tirage différé. Au 22 avril 2025, la liquidité totale était de 119 millions de dollars avec 14 millions en lettres de crédit.
Le PDG Fernando Araujo a souligné que la position de couverture favorable de Berry s'aligne sur leur stratégie visant à assurer un flux de trésorerie durable à travers les cycles des prix des matières premières, soutenue par un taux de déclin faible et des actifs à faible intensité capitalistique.
Berry (BRY) hat seine Absicherungs- und Liquiditätsposition gestärkt und damit finanzielle Widerstandsfähigkeit im aktuellen Rohstoffmarkt gezeigt. Das Unternehmen hat den durchschnittlich abgesicherten Preis um 6 US-Dollar pro Barrel für 2,3 MBbls/d für 2026 und 2027 erhöht. Die Ölvolumen sind nun zu 73 % für den Rest des Jahres 2025 zu 74,69 $/Bbl Brent abgesichert und zu 63 % für 2026.
Die Mark-to-Market-Position des Unternehmens für Rohöl beträgt zum 21. April 2025 105 Millionen US-Dollar. Die Liquidität von Berry erreichte zum 31. März 2025 120 Millionen US-Dollar, darunter 39 Millionen in bar und barähnlichen Mitteln, 49 Millionen verfügbare revolvierende Kredite und 32 Millionen verzögerte Darlehen. Zum 22. April 2025 betrug die Gesammtliquidität 119 Millionen US-Dollar mit 14 Millionen in Akkreditiven.
CEO Fernando Araujo betonte, dass die günstige Absicherungsposition von Berry mit ihrer Strategie übereinstimmt, nachhaltige Cashflows durch Rohstoffpreiszyklen zu erzielen, unterstützt durch eine geringe Förderminderungsrate und kapitalarme Vermögenswerte.
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DALLAS, April 23, 2025 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today provided an update on its hedge and liquidity position, further bolstering the Company’s financial strength and visibility in the current commodity price environment. The Company raised the average hedged price in 2026 and 2027 by
Fernando Araujo, Berry’s Chief Executive Officer, commented, “Our favorable hedge position reflects our proven strategy and Berry’s long-standing commitment to deliver sustainable cash flow through commodity price cycles. Our shallow decline rate, low capital intensity assets and strong hedge book provides for continued debt reduction and shareholder returns. Berry is well positioned to protect its balance sheet amidst recent market volatility.”
Hedging and Mark-to-Market (MTM) Update:
- Converted 2.3 MBbls/d of collars and puts in 2026 and 2027 into swaps, raising the floor price by
$6 /Bbl on average - Balance of 2025 (April-December): 17.3 MBbls/d oil hedged at an average price of
$74.69 /Bbl Brent (73% of full year 2025 guidance) - 2026-2027: 12.5 MBbls/d oil hedged at an average price of
$69.45 /Bbl Brent factoring in swaps and the floor prices of the collars - MTM (crude oil) as of 4/21/25:
$105 million
Liquidity Update
Berry also provided an update on its strengthened liquidity position since year-end. As of March 31, 2025, the Company had
Upcoming Conference Participation
Berry’s executives will be participating in several upcoming investor events. In addition to hosting 1x1 investor meetings, Fernando Araujo will be speaking at each of the following conferences:
- ONE Houlihan Lokey Global Conference on May 13 in New York, NY
- Hart Energy Super DUG Conference & Expo on May 15 in Fort Worth, TX
- Louisiana Energy Conference on May 28 in New Orleans, LA
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, long-lived oil and gas reserves. We operate in two business segments: (i) exploration and production (“E&P”) and (ii) well servicing and abandonment services. 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 (
COMPANY CONTACT:
Christopher Denison – Investor Relations
ir@bry.com
(661) 616-3811
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “believe,” “continue,” “intend,” “will,” “would,” “goal,” “project,” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. 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 production guidance, financial guidance and 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; changes in 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.
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