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Berry Corporation (bry) - BRY STOCK NEWS

Welcome to our dedicated page for Berry Corporation (bry) news (Ticker: BRY), a resource for investors and traders seeking the latest updates and insights on Berry Corporation (bry) stock.

Berry Corporation (BRY) Common Stock is a prominent player in the independent energy sector, primarily focused on the production, development, acquisition, exploitation, and exploration of crude oil and natural gas. The company has a rich history, tracing its origins back to 1909 in California's heavy oil production. Since becoming publicly traded in 1987, Berry has expanded its operations to include significant reserves and producing properties in California, Utah (Uinta Basin), Texas (East Texas and Permian Basin), and Colorado (Piceance).

Berry's core business revolves around its Exploration and Production (E&P) segment, which generates the bulk of its revenue. The company is known for its conventional, long-lived oil reserves in the San Joaquin Basin of California. Berry also operates a Well Servicing and Abandonment segment, which plays a crucial role in maintaining and optimizing its oil and gas assets.

As of December 31, 2010, Berry reported proved reserves of 271 million barrels of oil equivalent (BOE), a 15% increase compared to 2009. This mix includes 166 million barrels of crude oil, condensate, and natural gas liquids, along with 630 billion cubic feet of natural gas, representing 61% oil and 39% natural gas. In 2010, Berry's total production averaged 32,700 BOE per day.

In recent developments, Berry Corporation has demonstrated a disciplined capital returns strategy aimed at enhancing free cash flow. The company's acquisition of oil-producing assets has been attractively priced, showcasing its commitment to delivering value to shareholders. Reflecting the MacPherson acquisition and strong results to date, Berry has updated its 2023 full-year guidance, emphasizing its optimistic outlook for the future.

Berry is also proactive in its communication with investors, offering opportunities to preregister for live earnings conference calls. This transparency allows shareholders to stay informed about the company's performance and strategic initiatives.

Financially, Berry maintains a robust position with a clear focus on optimizing its commodity pricing strategies and capital expenditures. The company has shifted a majority of its natural gas purchases to the Rockies, leveraging favorable price indexes. Berry's hedging strategies further strengthen its financial stability, providing protection against market volatility.

Overall, Berry Corporation (BRY) continues to be a significant force in the independent energy sector, underscored by its extensive reserves, strategic acquisitions, and commitment to shareholder value.

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DALLAS, April 5, 2022 (GLOBE NEWSWIRE) -- Berry Corporation (bry) will report its first quarter 2022 financial results on May 4, 2022, before U.S. markets open. A conference call will be held on the same day at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss the results. Interested parties can listen live via audio webcast at bry.com/category/events. Dial-in details for questions are provided. An audio replay will be available until May 18, 2022. More information on bry, an independent upstream energy company, can be found at www.bry.com.

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Berry Corporation (BRY) reported its fourth quarter and full-year 2021 results, showing a net income of $9 million for Q4 and a net loss of $16 million for the year. Adjusted EBITDA was $60 million for Q4 and $212 million for the full year. The company increased production by 5% in Q4 compared to the prior year. A quarterly dividend of $0.06 was approved for Q1 2022. Looking ahead, Berry expects a cash return in the mid- to high teens percentage for 2022 and plans to spend $125-$135 million in capital expenditures to maintain production levels.

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Berry Corporation (BRY) announced it will report its fourth quarter and full year 2021 financial results on February 22, 2022, after U.S. markets close. A conference call to discuss the results is scheduled for February 23, 2022, at 9:00 a.m. ET. Interested parties can access the call via bry.com/category/events. Dial-in details include a U.S. number, 877-491-5169, and an international number, 720-405-2254. Replay options will be available until February 26, 2022, with specific dial-in details provided.

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Berry Corporation (BRY) announced a new shareholder return model effective January 1, 2022, aimed at enhancing cash returns to shareholders. The model allocates 60% of discretionary free cash flow to cash variable dividends and debt repurchases, with 40% directed towards organic growth and capital retention. Since its public debut in 2018, BRY has returned nearly $130 million to shareholders. Chairman and CEO Trem Smith emphasized the company's focus on maintaining production while providing value to shareholders through sustainable financial practices.

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Berry Corporation (BRY) reported a strong Q3 2021, with a net income of $10 million, or $0.12 per diluted share, and Adjusted EBITDA of $59.3 million, marking a 46% increase sequentially. The Board declared a quarterly dividend of $0.06 per share for Q4 2021 and announced a new shareholder return model starting in 2022. Key achievements include the acquisition of C&J Well Services and a completed $500 million RBL credit facility. Average daily oil production rose to 27,400 boe/d, despite challenges from new operator onboarding and a truck driver shortage.

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Berry Corporation (BRY) announced that it will release its third quarter 2021 financial results on November 2, 2021, after U.S. markets close. A conference call to discuss these results will follow on November 3, 2021, at 9:00 a.m. ET. Participants can access the call via a live audio webcast. For those wishing to ask questions, a dial-in number is provided. A replay of the conference call will be available until November 17, 2021. Berry Corporation operates primarily in the San Joaquin basin of California, focusing on long-lived oil reserves.

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Berry Corporation (BRY) has acquired Basic Energy Services' California operations, officially closing the deal on October 1, 2021. This acquisition, valued at approximately $43 million, allows BRY to enhance its position in the rig servicing and well abandonment market, estimated at around $6 billion. The new subsidiary, C&J Well Services, will support California's energy transition goals, focusing on reducing emissions from idle wells. BRY's CEO emphasized the strategic fit and commitment to delivering top-tier services in California.

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Berry Corporation (BRY) announced a new Reserve Based Lending (RBL) facility with a borrowing base of $500 million and a commitment of $200 million, replacing the previous facility. The company also stated it has repurchased approximately 471,000 shares under its $100 million buyback program, with $47 million remaining. Management emphasized a disciplined capital allocation strategy focused on returning cash to shareholders while maintaining operational liquidity. The leverage ratio has decreased to 3:1, aligning with macroeconomic conditions.

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Berry Corporation (BRY) has announced a $27 million asset purchase agreement as a stalking horse bidder to acquire Basic Energy Services' California business lines amid Basic's bankruptcy proceedings. This acquisition aims to bolster BRY's capabilities in well servicing and water logistics, enhancing profitability and diversifying its revenue stream. The expected benefits include a significant growth opportunity in the $6 billion market for plugging and decommissioning orphaned wells in California. The deal requires U.S. Bankruptcy Court approval.

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Berry Corporation (BRY) announced a 50% increase in its quarterly dividend to $0.06 per share, effective for Q3 2021. This decision reflects a strong second quarter performance, with an Adjusted EBITDA of $41 million and total production up 1% to 27,300 boe/d. Despite a net loss of $13 million, the company has returned 115% of its IPO proceeds to shareholders since going public in 2018. The dividend payment is scheduled for October 15, 2021.

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FAQ

What is the current stock price of Berry Corporation (bry) (BRY)?

The current stock price of Berry Corporation (bry) (BRY) is $4.58 as of January 29, 2025.

What is the market cap of Berry Corporation (bry) (BRY)?

The market cap of Berry Corporation (bry) (BRY) is approximately 347.8M.

What does Berry Corporation (BRY) do?

Berry Corporation is an independent energy company engaged in the production, development, acquisition, exploitation, and exploration of crude oil and natural gas.

Where are Berry Corporation's principal reserves located?

Berry's principal reserves and producing properties are located in California, Utah, Texas, and Colorado.

How much did Berry Corporation report in proved reserves as of December 31, 2010?

Berry reported proved reserves of 271 million barrels of oil equivalent (BOE), including 166 million barrels of crude oil, condensate, and natural gas liquids, and 630 billion cubic feet of natural gas.

What are Berry Corporation’s main business segments?

Berry operates primarily in two segments: Exploration and Production (E&P) and Well Servicing and Abandonment.

How does Berry Corporation generate most of its revenue?

Berry generates maximum revenue from its Exploration and Production (E&P) segment.

What was Berry Corporation's average daily production in 2010?

In 2010, Berry's total production averaged 32,700 barrels of oil equivalent (BOE) per day.

What recent acquisition has Berry Corporation made?

Berry recently completed an attractively priced acquisition of oil-producing assets as part of its strategy to enhance free cash flow.

How does Berry Corporation manage commodity pricing fluctuations?

Berry employs hedging strategies and optimizes gas purchases by shifting a majority to the Rockies, leveraging favorable price indexes.

What resources are available for Berry Corporation investors?

Berry provides opportunities for investors to preregister for live earnings conference calls, ensuring transparency and up-to-date information.

What is the significance of Berry Corporation's asset mix?

Berry's asset mix includes a substantial proportion of oil and natural gas, representing 61% oil and 39% natural gas, enhancing its resilience and profitability.
Berry Corporation (bry)

Nasdaq:BRY

BRY Rankings

BRY Stock Data

347.76M
74.97M
2.56%
89.42%
1.48%
Oil & Gas E&P
Crude Petroleum & Natural Gas
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United States of America
DALLAS