Berry Petroleum Sells Non-Core East Texas Natural Gas Assets
DALLAS, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Berry Petroleum Corporation (NASDAQ: BRY) (“Berry” or the “Company”) today announced that on November 30, 2018, Berry Petroleum completed a transaction to sell its non-core producing properties and related assets located in the East Texas Basin for $6.7 million. Production, comprised primarily of natural gas, was approximately 0.7 MBoe per day in the third quarter of 2018 from 4,532 net acres. Divesting the East Texas properties follows Berry’s stated strategy of focusing on and growing its core oil assets. This transaction moves Berry’s production profile from approximately 80% oil to 83% oil. The effective date of the sale is July 1, 2018.
About Berry Petroleum
Berry Petroleum is a publicly-traded (NASDAQ: BRY) California-based independent upstream energy company engaged primarily in the development and production of onshore conventional oil reserves located in the western United States. More information can be found at the Company’s website at berrypetroleum.com.
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