Berry Corporation successfully closed a refinancing deal to support growth and production levels

From GlobeNewswire: 2024-12-26 07:00:00

Berry Corporation (BRY) successfully closed a refinancing deal on December 24, 2024, providing capital and liquidity to support its corporate strategy. The refinancing extends debt maturities, allowing Berry to pursue growth opportunities while sustaining production levels. With more than $100 million in liquidity, the company aims to balance shareholder returns with capital investment. The Transactions included borrowing $450 million under a Term Loan Credit Agreement to redeem Senior Notes and fund capital expenditures. Berry also entered a three-year reserve-based revolving loan to provide additional borrowing availability. The company focuses on onshore oil and gas reserves in California and Utah.



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