Berry (bry)(BRY)

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Berry (bry)(BRY) - 2025 Q1 - Quarterly Results
2025-05-08 14:54
Financial Position - As of March 31, 2025, Berry Corporation reported $39 million in cash and cash equivalents, $49 million available for borrowings under its revolving credit facility, and $32 million available for delayed draw borrowings under its term loan facility[6]. Hedging and Investor Relations - The company announced updates to its hedging program and participation in upcoming investor conferences on April 23, 2025[6]. Financial Reporting - The financial information provided is preliminary and subject to the completion of the company's financial closing procedures for the three months ended March 31, 2025[6]. - The press release containing this information is unaudited and is attached as Exhibit 99.1[6]. Forward-Looking Statements - Management's forward-looking statements regarding future expectations are subject to risks and uncertainties that could cause actual results to differ materially[8].
Watch These 4 Energy Stocks for Q1 Earnings: Beat or Miss?
ZACKS· 2025-05-07 14:15
The first quarter of 2025 has presented the oil/energy sector with a series of challenges, driven by fluctuating commodity prices and ongoing market turbulence. Oil prices have declined, while natural gas prices have seen an increase, creating a mixed outlook for the sector. With earnings expectations low across the sector, the question remains: Can companies rise above the challenges and deliver strong performance?Let’s take a closer look at four key companies to see where they stand as they get ready to r ...
Berry Corporation Provides Update on Strong Hedge and Liquidity Position Underpinning Stable Cash Flow Generation; Announces Upcoming Conference Participation
Newsfilter· 2025-04-23 12:00
Core Insights - Berry Corporation has strengthened its hedge and liquidity position, raising the average hedged price for 2026 and 2027 by $6 per barrel on 2.3 million barrels per day (MBbls/d) [1][6] - The company is 73% hedged for the remainder of 2025 and 63% hedged for 2026 based on its production guidance [1][6] - As of March 31, 2025, Berry had $120 million in liquidity, which includes $39 million in cash, $49 million available for borrowings, and $32 million for delayed draw borrowings [3] Hedging and Financial Position - Berry's hedging strategy has resulted in a favorable position, with a balance of 2025 oil hedged at an average price of $74.69 per barrel Brent [6] - The company has converted 2.3 MBbls/d of collars and puts into swaps, raising the floor price by $6 per barrel on average [6] - The mark-to-market (MTM) value for crude oil as of April 21, 2025, is $105 million [6] Liquidity and Upcoming Events - As of April 22, 2025, Berry's liquidity position is $119 million, with $14 million in letters of credit and no outstanding borrowings under its credit facility [3] - Berry's executives will participate in several upcoming investor events, including the ONE Houlihan Lokey Global Conference and the Louisiana Energy Conference [7]
Berry Corporation Announces Date for First Quarter 2025 Earnings Release and Conference Call/Webcast
Newsfilter· 2025-04-17 12:00
DALLAS, April 17, 2025 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ:BRY) ("Berry" or the "Company") today announced it will report first quarter 2025 results on Thursday, May 8, 2025, before the open of U.S. financial markets and will host a conference call and webcast Thursday morning, May 8, 2025, to discuss these results; details and links are provided below: Earnings Call Information Call Date: Thursday, May 8, 2025Call Time:11:00 am a.m. Eastern Time / 10:00 a.m. Central Time / 8:00 a.m. Pacific ...
Berry Corporation Strengthens Executive Leadership Team with Appointment of General Counsel
Newsfilter· 2025-04-14 12:00
Company Overview - Berry Corporation is a publicly traded independent upstream energy company focused on onshore, low geologic risk, long-lived oil and gas reserves, operating in two segments: exploration and production (E&P) and well servicing and abandonment services [3] - The E&P assets are located in California and Utah, characterized by high oil content, with California assets in the San Joaquin Basin (100% oil) and Utah assets in the Uinta Basin (65% oil) [3] Leadership Appointment - Jenarae Garland has been appointed as Vice President, General Counsel, Corporate Secretary, and Chief Compliance Officer, effective immediately [1] - Garland has extensive experience in the energy sector, having previously served as Deputy General Counsel at Phillips 66 and in various roles at Occidental Petroleum [2] Strategic Importance - The appointment of Garland is seen as pivotal for Berry Corporation during a critical growth phase, with expectations for her to positively impact the company's performance and culture [2] - The company aims to drive sustainable and profitable growth, with Garland expected to work closely with the board of directors and executive leadership team [2]
Bri-Chem Announces 2024 Annual and Fourth Quarter Financial Results
Newsfile· 2025-03-31 22:03
March 31, 2025 6:03 PM EDT | Source: Bri-Chem Corp. Edmonton, Alberta--(Newsfile Corp. - March 31, 2025) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2024 annual and fourth quarter financial results. | | Three months | | | Twelve months | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | ended | | | ended | | | | | | December 31 | | Change | December 31 | | Change | | | (in '000s exce ...
Here's Why Hold Strategy is Apt for Berry Global Stock Right Now
ZACKS· 2025-03-20 16:50
Berry Global Group, Inc. (BERY) is witnessing solid momentum in the Consumer Packaging North America segment owing to strength in its food, beverage and foodservice end markets. This has led to 10% year-over-year growth in its revenues in first-quarter fiscal 2025 (ended December 2024).Growth in emerging markets and share gains are aiding the company’s Consumer Packaging International segment. The segment’s organic volume increased 1% in the same quarter. The Flexibles segment’s revenues were up 1.8%, drive ...
Berry (bry)(BRY) - 2024 Q4 - Annual Report
2025-03-13 21:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State of incorporation or organization) 16000 Dallas Parkway, Suite 500 Dallas, Texas 75248 (661) 616-3900 (Address of principal executive offices, including zip code Registrant's telephone number, including area code): For the Fiscal Year Ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...
Berry (bry)(BRY) - 2024 Q4 - Earnings Call Transcript
2025-03-13 19:04
Financial Data and Key Metrics Changes - In 2024, the company generated $292 million of adjusted EBITDA, a 9% increase from 2023, and reduced hedged LOE by 12% [9][35] - The average annual production was 25,400 barrels of oil equivalent per day, consistent with 2023 and near the top of guidance [10] - Adjusted EBITDA for Q4 was $82 million, a 22% increase from Q3 [35] - Total debt at year-end was $450 million, with a leverage ratio of 1.5 times [36] Business Line Data and Key Metrics Changes - The company drilled a total of 56 gross wells in 2024, with 46 in California and 10 in Utah [11] - The thermal diatomite reservoir in California delivered exceptional results, with a reserve replacement ratio of 147% [13][14] - In the Uinta Basin, the company executed a second farm-in to drill an additional 12 horizontal wells [16] Market Data and Key Metrics Changes - The realized oil price for the full year was 92% of Brent [32] - Non-energy LOE was $13.10 per BOE, while energy LOE was $11.21 per BOE on an unhedged basis [34] Company Strategy and Development Direction - The company is focused on unlocking development potential from its thermal diatomite reservoir and expanding its horizontal well development program in the Uinta Basin [8][19] - Plans for 2025 include drilling approximately 50 gross wells and sustaining production levels [11] - The company aims to deploy 40% of its capital to Utah in 2025, up from 25% in 2024 [38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to create sustainable value and highlighted a compelling pipeline of opportunities [19][40] - The company is not dependent on the Kern County EIR for its near-term plans, as most of its PUD locations can be accessed through available permitting processes [26][82] - Management noted that the recent results from the Uinta Basin could be transformational for the company [54][86] Other Important Information - The company completed a methane emissions reduction project, achieving an 80% reduction compared to a 2022 baseline [28] - A new CFO, Jeff Majid, joined the company, bringing over 15 years of experience in the oil and gas industry [30] Q&A Session Summary Question: Update on Uinta wells and expectations for the first operated pad - Management discussed the differences in production rates between the first and second farm-in wells, noting the geology is uniform and pressure gradients are similar [48][50] Question: Acquisition environment in California - Management is actively pursuing bolt-on opportunities in California, particularly in Kern County, and is in talks with several small operators [57] Question: Update on joint venture discussions for Utah - Management is in discussions for a potential JV to mitigate capital requirements but is comfortable drilling independently for now [66][68] Question: Impact of recent abandonment legislation in California - The legislation will have minimal impact on Berry but will significantly affect larger operators [70][72] Question: Timeline for permitting processes - Management indicated that the timeline for conditional use permits is similar to the Kern County EIR, likely extending into 2026 [84] Question: Long-term potential for Utah assets - Management highlighted the significant potential in Utah, with the ability to grow production significantly over the next decade [87][88]
Berry (bry)(BRY) - 2024 Q4 - Annual Results
2025-03-12 20:20
Full Year 2024 Highlights Fourth Quarter 2024 Highlights 2025 Outlook PRESS RELEASE For Immediate Release Berry Corporation Reports Fourth Quarter and Full Year 2024 Financial and Operational Results, Year- End Reserves and 2025 Outlook DALLAS, TX - March 12, 2025 (GLOBE NEWSWIRE) – Berry Corporation (bry) (NASDAQ: BRY) ("Berry" or the "Company") today announced financial and operating results for the fourth quarter and full year 2024, as well as a quarterly cash dividend of $0.03 per share. Berry has provi ...