Corporate Profile for Berry Petroleum, dated Aug. 21, 1998.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: Aug. 21, 1998
Company Name: Berry Petroleum Co.
Address: P.O. Box Bin X
Taft, CA 93268-0042
Main Telephone
Number: 805/769-8811
Internet Home
Page Address
(URL) www.bry.com
Chief Executive
Officer: Jerry V. Hoffman
Chief Financial
Officer: Ralph J. Goehring
Investor Relations
Contact: Todd A. Crabtree
Business number: 805/769-2324
e-mail address: ir@bry.com
Media Relations
Contact: Ralph J. Goehring
Business number: 805/769-8811
e-mail address: pr@bry.com
Trading Symbol/
Exchange: NYSE/BRY
Industry: Energy -- Oil & Gas
Company description: Berry Petroleum Co. is a California-based independent oil and gas producer with extensive experience in heavy crude production. The company's principal producing properties are located in the southern 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 in California. The majority of the company's reserves are owned in fee (no royalties) and 99% are heavy oil (under 20 degrees API gravity The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. ), which are produced using thermal (steam) enhanced recovery methods. Berry also owns two cogeneration facilities which produce 56 megawatts of electricity and provide Berry up to 23,000 barrels of steam per day. At Dec. 31, 1997 reserves were 101.1 million barrels of oil equivalent (BOE BOE Based on Experience BOE Board of Education BOE Boletín 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 ), operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. were $67,172,000 and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. was $34,627,000. Net income was $19,260,000 or 88 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Total shares outstanding at year end were 22,165,000 (fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ). During the calendar year 1997, the stock price low was $13.875 per share and the high was $21.375 per share. CONTACT: Berry Petroleum Co. |
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