Berry Corporation (Bry) (BRY) Earnings

Berry Corp. is an energy exploration company, which engages in the acquisition, exploration, development, and production of domestic oil and natural gas reserves. The company is headquartered in Dallas, Texas and currently employs 1,070 full-time employees. The company went IPO on 2017-07-14. The firm operates in two business segments: exploration and production (E&P) and well servicing and abandonment services. The E&P assets are located in California and Utah, are characterized by high oil content and are predominantly located in rural areas with a low population. The California assets are in the San Joaquin Basin (100% oil), and its Utah assets are in the Uinta Basin (65% oil). The company provides its well servicing and abandonment services to third-party operators in California and its California E&P operations through C&J Well Services (CJWS). Its California operating area consists of properties located in Midway-Sunset, South Belridge, McKittrick and Poso Creek fields in the San Joaquin basin in Kern County. The Company’s properties in this region are primarily mature, low-decline oil wells.