Berry Petroleum Ranked # 44 on BusinessWeek 'Hot Growth' Companies List.BAKERSFIELD, Calif. -- Berry Petroleum Company (NYSE NYSE See: New York Stock Exchange :BRY), an independent oil and gas producer headquartered in Bakersfield, California “Bakersfield” redirects here. For other uses, see Bakersfield (disambiguation). Bakersfield (pop. 323,213GR2) is one of the fastest-growing, large-population cities in the United States. with production in California, Utah and Colorado, made its first appearance in BusinessWeek magazine's list of "Hot Growth" companies. In the special report on the 100 best small companies as calculated by BusinessWeek, Berry ranked number 44, based on various three-year measures. Robert F. Heinemann, president and chief executive officer, said, "We are pleased to be ranked 44 by BusinessWeek on their 'Hot Growth' list and to be one of only six oil and gas industry companies represented this year. Berry's three-year results show sales growth of 27%, earnings growth of 43%, and return on capital of 15%; and, indicate that our growth is a process and not a one-time event. We are transforming Berry through acquisitions and follow-on development, and expect our growth to continue as we execute our strategic plans." Companies included in the BusinessWeek survey were ranked by three-year results in sales growth, earnings growth and return on invested capital. The ranks are calculated by the sum of 0.5 times its rank in return on total capital plus 0.25 times its sales and profit growth ranks. Berry Petroleum Company is a publicly traded independent oil and gas production, exploration and exploitation company located in Bakersfield, California. The Company estimates its proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. are 124 million BOE BOE Based on Experience BOE Board of Education BOE BoletÃn Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip . Since August 2003, Berry has acquired an interest in approximately 600,000 prospective acres in the Rockies and Mid-Continent with excellent natural gas and light oil potential. Visit www.bry.com for more information. This release may contain descriptions of the Company's expectations regarding future business activities. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are made in reliance upon safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Accordingly, actual results may differ materially from those contemplated by the forward-looking statements. |
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