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Berry Corporation

Description

Berry Corporation is an independent publicly-traded energy company, listed on Nasdaq with the symbol BRY, engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah and the Piceance Basin in Colorado.

History

Berry Corporations’s roots reach back to 1909, through its predecessor companies founded by C.J. Berry. But today’s Company is a new and different Berry with new ownership and management.

More than 100 years ago a man named C.J. Berry, armed with determination and not much else, set out on a journey to seek his fortune. That path would lead from the gold claims of the Klondike to the oil fields of central California. His success was manifold and one lasting result is Berry Petroleum Company, a California-based energy company that began when C.J. began producing heavy oil from the San Joaquin basin in 1909.

Settling on a piece of land in the Southern San Joaquin Valley, nestled up against the Temblor Range, C.J. began to drill for oil. He started many oil companies as early as 1899 with names like Bakersfield Fuel Oil, El Dorado Oil Company and Mammoth Oil Company. One of his early wells was drilled on some land named for his wife, Ethel D, in 1909. Some 100 plus years later the Ethel D property is still producing oil in paying quantities.

Berry Holding Company, formed in 1916 as one of C.J.’s many companies, continued to grow over the years and in December 1985 was merged with several related entities into Berry Petroleum Company. Berry, with a very solid beginning, has continued to grow and evolve and today is one of the few remaining independent producers headquartered in California.

Berry expanded its presence in areas outside of California beginning in 2003 as opportunities to acquire light oil and natural gas became available to grow its portfolio. Today, Berry has production in three states, and is always looking for acquisitions to continue the course of success and growth that C.J. envisioned when he drilled his first well on the Ethel D lease.

LINN Energy and LinnCo acquired Berry in 2013 and subsequently LINN filed for bankruptcy in May 2016. Berry emerged from the bankruptcy as a stand-alone company on Feb 28, 2017.

In February 2020, Berry introduced a new logo and shortened name – Berry Corporation (bry) – to reflect the company’s progressive approach to evolving and growing the business in today’s dynamic oil and gas industry.

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