BRY Research | Milton Maxwell

BRY

Berry Corporation

3.1900

-0.1400-4.2%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

247.57M

P/E (TTM)

Basic EPS (TTM)

-1.17

Dividend Yield

0.04%

Recent Filings

8-K

12/15/25Dec 15, 2025

8-K

11/12/25Nov 12, 2025

8-K

Berry merges with CRC

9/16/25Sep 16, 2025

Berry Corporation announced a merger with California Resources Corporation on September 14, 2025, where Berry shareholders will receive 0.0718 shares of CRC stock per Berry share, pending approvals. The deal, set to close by March 14, 2026, includes a $12 million termination fee if Berry backs out for a better offer, while Berry's board unanimously recommends it. Retention bonuses totaling $1.77 million secure key executives through closing. Integration risks loom large.

8-K

Berry merges with CRC in all-stock deal

9/15/25Sep 15, 2025

Berry Corporation announced an all-stock merger with California Resources Corporation on September 14, 2025, valuing Berry at $717 million including net debt, with Berry shareholders receiving 0.0718 CRC shares per share—a 15% premium. The deal adds Berry's oil-weighted California assets and C&J Well Services, boosting pro forma Q2 2025 production to 161 Mboe/d (81% oil) and reserves to 652 MMboe, while targeting $80-90 million in annual synergies within 12 months to lift free cash flow. CRC shareholders will own 94% of the combined entity, closing in Q1 2026 pending approvals. Integration risks loom large.

8-K

Berry's Q2 earnings and debt cut

8/7/25Aug 7, 2025

Berry Corporation reported Q2 2025 net income of $34 million on 23.9 MBoe/d production, down from Q1's 24.7 MBoe/d amid lower oil prices, yet generated $53 million Adjusted EBITDA and $29 million operating cash flow. The company reduced debt by $11 million, hitting $23 million year-to-date toward a $45 million target, while declaring a $0.03 per share dividend. Production growth looms. Uinta wells online soon.

About

Berry Corporation operates as an independent upstream energy company in the western United States. It operates through two segments, Exploration and Production (E&P); and Well Servicing and Abandonment. The E&P segment engages in the development and production of onshore, low geologic risk, and long-lived oil and gas reserves primarily located in California and Utah. The Well Servicing and Abandonment segment provides wellsite services in California to oil and natural gas production companies with a focus on well servicing, well abandonment services, and water logistics. The company was founded in 1909 and is headquartered in Dallas, Texas.

CEO

Mr. Fernando Araujo

IPO

7/18/2018

Website

https://www.bry.com

Employees

1,070

Sector

Energy

Industry

Oil & Gas E&P