OIL MARKETS

Welcome to the Oil and Gas Financial Journal's Oil Markets Page containing news reported with the Oil & Gas Financial Industry perspective. Read the topic's highlights in the sections on this page below ro click on the sub-category you're interested in. 

SECTIONS: OGJ 150 | OGFJ 100P
COMPANIES | OIL MARKET WATCH

Berry Petroleum Company

  Berry Petroleum Company
5201 Truxtun Ave.
Bakersfield, CA 93309
Toll Free 1-866 IR AT BRY
Direct Ph 661-616-3832

Berry Petroleum Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. Publicly traded since 1987, Berry traces its roots to California heavy oil production back to 1909. Currently, Berry's principal reserves and producing properties are in California (San Joaquin and LA basins), Utah (Uinta basin), Colorado (Piceance and DJ basins) and Texas (East Texas basin). At December 31, 2007, the Company reported proved reserves of 169 million barrels of oil equivalent (BOE) distributed 60% in California and 40% in the Rocky Mountain region. For the Company, the reserve mix is 69% crude oil and 31% natural gas. Including the East Texas acquisition that closed July 15, 2008 the Company estimates it will have total proved reserves of between 235 million and 250 million at year end 2008.

Daily production for the second quarter 2008 averaged 29,000 BOE with 71% coming from oil production and 29% from natural gas production. The Company exited the second quarter with production of 30,000 BOE/D and with the East Texas acquisition, total production currently is above 35,000 BOE/D.

Listed below are some key principles that we believe define Berry and provide an understanding of how we are managing the Company for increased performance:

  • We are a growing company, focused on the execution of our asset development plans.
  • We work to maximize returns for our shareholders.
  • We are accountable for our performance.
  • We value people who want to drive the Company's success.
  • We utilize integrated teams that encourage contributions from each person.

Latest Berry Petroleum News

LINN Energy makes historic offer for Berry Petroleum

In the first ever acquisition of a public C-Corp by an upstream LLC or master limited partnership (MLP), LINN Energy LLC, LinnCo LLC and Berry Petroleum Co. have signed a definitive merger agreement.

Engineering-focused Bonanza Creek aggressively expanding its portfolio

AN INTERVIEW WITH BONANZA CREEK ENERGY'S MICHAEL R. STARZER

Berry Petroleum names Hadden, Reddin to board

Publicly traded independent oil and gas production and exploitation company Berry Petroleum Co. has elected Stephen J. Hadden and Michael S. Reddin to the board of directors.

GE gets in on natural gas boom with Dresser acquisition

Addison, Tex.-based Dresser Inc., majority-owned by private equity firms Riverstone Holdings LLC and First Reserve Corp., has agreed to be acquired by GE for $3 billion.

Berry Petroleum to offer $300M senior notes to fund Permian Basin acquisition

Berry Petroleum Co. plans to publicly offer $300 million aggregate principal amount of senior notes due 2020 to fund the company's recent acquisition in the Wolfberry trend of West Texas.  

Berry Petroleum adds Wolfberry acreage for $180M

Berry Petroleum Co. is buying 9,300 net acres in the Wolfberry trend in West Texas from a group of sellers for a combined purchase price of $180 million in cash.

Bonanza Creek closes $230M financings; promotes Wilson to CFO

Denver-based Bonanza Creek Energy Operating Co. LLC closed a $200 million Senior Revolving Credit Facility with BNP Paribas, Compass Bank and Societe Generale and a $30 million Second Lien Term Loan with D. E. Shaw Direct Capital Portfolios LLC and Wells Fargo Energy Capital Inc.

Tudor Pickering Holt develops into key energy finance player

Tudor, Pickering, Holt & Co. was formed in 2007 with the merger of Tudor Capital and Pickering Energy Partners. What was your vision for the firm when you and Dan decided to join forces?

OGJ 150

Revenue, net income show small increases in 4Q2012

May 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final...

Helix completes sale of oil and gas business

Feb 6, 2013 Helix Energy Solutions Group Inc.has closed the previously announced sale of Energy Resource Technology GOM Inc. (ERT), the company’s oil and gas s...

Revenue, net income drop sharply in 3Q12

Feb 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal continued their d...

WPX Energy makes natural gas discovery in Niobrara formation

Jan 23, 2013 Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado ...

Helix to divest oil and gas subsidiary to grow well intervention business

Dec 13, 2012 International offshore energy company Helix Energy Solutions Group Inc. has agreed to sell its oil and gas subsidiary to privately-held upstream oi...

OGFJ 100P

FourPoint raises $1B in capital, partners with EnerVest in Anadarko Basin

Jan 31, 2014 FourPoint Energy LLC has acquired certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Bas...

OGFJ100P company update

Jul 11, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Maverick Brothers Energy gets $35M in equity capital from Post Oak Energy

Apr 8, 2013 Post Oak Energy Capital LP, through investment partnerships it manages, has commitment of $35 million in equity capital to privately held explorati...

Midstates Petroleum to acquire Anadarko Basin assets from Panther Energy

Apr 4, 2013

OGFJ100P company update

Jan 1, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Oil & Gas Companies

Shell reports Malaysia deepwater gas discovery

Shell has announced an exploration discovery offshore Malaysia. The successful Rosmari-1 well is located 135 kilometers offshore in Block SK318, and was drilled to a total depth of 2,123 meters.

Cunningham Energy plans ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC is planning three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia, from the “Dragon’s Breath” pad, with specified measured depths ranging from 4,750 feet to 5,200 feet.

L&L Energy to voluntarily delist from NASDAQ

L&L Energy Inc., a US-based company with energy (coal) operations in China, has notified NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock (LLEN) from the NASDAQ.

Weatherford to move headquarters to Ireland

Weatherford International Ltd. has made plans to move its corporate headquarters from Switzerland to Ireland, after the Swiss government handed investors authority to rein in top-level executive pay.

Cantex Energy announces new president, headquarters

Cantex Energy Corp. reports that its board of directors has hired Paul Henley as CEO and president. Additionally, the company’s corporate headquarters will be moved to Dallas, Texas.

Weatherford to cut back Venezuela operations

This year, Weatherford International Ltd. plans to reduce its operations in Venezuela, while expanding its operations in Russia, according to Reuters.

Oil Basins receives grant for Derby Block

The Western Australian Department of Mines and Petroleum has confirmed to Oil Basins Ltd. that the grant of the Derby Block (formerly 5/07-EP), as Permit EP 487, has been made for a period of six years.