Company Profile for Berry Petroleum Company.Berry Petroleum Company (NYSE NYSE See: New York Stock Exchange :BRY) is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. Incorporated in Delaware in 1985 and publicly traded since 1987, Berry traces its roots in California oil production back to 1909. Currently, Berry's principal reserves and producing properties are located in the San Joaquin Valley Noun 1. San Joaquin Valley - a vast valley in central California known for its rich farmland Calif., California, Golden State, CA - a state in the western United States on the Pacific; the 3rd largest state; known for earthquakes , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Ventura Basins in CA, the Uinta Basin in northeastern UT and the Denver-Julesburg Basin in CO, KS and NE. Berry also owns three cogeneration cogeneration In power systems, use of steam for both power generation and heating. High-temperature, high-pressure steam from a boiler and superheater first passes through a turbine to produce power. facilities in CA which produce electricity and provide Berry with steam for its California heavy oil operations. In the fourth quarter 2004, the Company's CA assets contributed 76% of total production and its Rocky Mountain assets contributed 24%. As of December 31, 2004, the Company's estimated 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. were 110 million barrels of oil equivalent (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 ), of which 87% are heavy crude oil Heavy crude oil or Extra Heavy oil is any type of crude oil which does not flow easily. It is a relative term, compared to light crude oil, but relates to specific technical issues of its own on production, transportation, and refining. , 9% light crude oil and 4% natural gas. California holds 88% of the Company's reserves and the Rocky Mountain region The Rocky Mountain Region is a floristic region within the Holarctic Kingdom in western North America (Canada and the United States) delineated by Armen Takhtajan and Robert F. Thorne. 12%. Proved undeveloped reserves make up 26% of the Company's proved total. Including the January 2005 acquisition of Niobrara gas assets the Company's proved reserves total 124 million BOE. 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. The Company's corporate headquarters are located in Bakersfield, CA. The Company has a regional office in Denver, CO to manage its assets in the Rocky Mountain and Mid-Continent regions.
Company: Berry Petroleum Company
Headquarters Address: 5201 Truxtun Ave.
Ste. 300
Bakersfield, CA 93309-0640
Main Telephone: 661-616-3900
Website: http://www.bry.com
Ticker: BRY(NYSE)
Type of Organization: Public
Industry: Oil/Gas
Earnings Release Dates: 1st Quarter: March 9, 2005
2nd Quarter: August 2, 2005
3rd Quarter: October 25, 2005
4th Quarter: February 28, 2006
Key Executives: CEO: Robert Heinemann
CFO: Ralph Goehring
Investor Relations
Contact: Todd Crabtree
Phone: 661-616-3832
Email: tac@bry.com
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