From GlobeNewswire:

Berry Corporation reported that it achieved a total production estimate of approximately 25,300 barrels of oil equivalent per day in 2023, with about 93% of the production being oil. The company also reported that its proved reserves estimates were approximately 103 million barrels of oil equivalent at December 31, 2023, with a proved reserves to production (R/P) ratio of approximately 11 years. In addition, Berry successfully reduced its debt outstanding under its revolver by approximately $25 million in the fourth quarter of 2023. The company’s fourth quarter and full year 2023 financial results are scheduled to be released on March 6, 2024. Berry’s CEO, Fernando Araujo, emphasized the company’s focus on maintaining steady production, strategic acquisitions, and developing and managing reservoirs effectively in 2023, and shared that they will continue to work towards sustaining production levels in 2024.

The company’s call will be on Wednesday, March 6, 2024 at 11:00 a.m. Eastern Time/10:00 a.m. Central Time/8:00 a.m. Pacific Time. To join the live listen-only audio webcast, go to the company’s website. The call will cover the fourth quarter and full year 2023 financial results and will include information about Berry’s financial position, liquidity, cash flows, capital program, and development and production plans. There will also be discussions about potential acquisitions and other strategic opportunities, reserves, capital expenditures, anticipated increases to free cash flow and shareholder returns, and guidance for the future. The call will be followed by an audio replay and accompanying slides will be available at the time of the call.

Berry Corporation is a publicly traded (NASDAQ: BRY) western United States independent upstream energy company with a focus on onshore, low geologic risk, long-lived, conventional oil and gas reserves. The company is also known for its well servicing and abandonment capabilities in California. More information can be found at the Company’s website at www.bry.com.



Read more: Berry Corporation Releases Select Preliminary 2023 Results