Berry Corporation Provides Update on Strong Hedge and Liquidity Position Underpinning Stable Cash Flow Generation; Announces Upcoming Conference Participation

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$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]