Exploration & Production | Top Story | Quarterly / Earnings Reports
Berry Sees Drop in Piceance/Uinta Results; Ups Permian
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Berry Petroleum Company reported net earnings of $32 million, or $0.58 per diluted share, for the first quarter of 2013. After considering items such as derivatives and transaction costs, adjusted net earnings were $37 million, or $0.67 per diluted share.
Berry's first quarter 2013 production averaged 39,676 BOE/D. The Company's oil mix was 79%, or 31,154 BOE/D in the first quarter up 24% from the first quarter of 2012.
Total production for the first quarter of 2013 and fourth quarter of 2012 was as follows: Operations UpdateNew Steam Floods production increased 11% from the fourth quarter of 2012 to an average of 2,355 BOE/D. The rise in production was a result of continued steam flood response at McKittrick 21Z. In the first quarter, Berry drilled the first seven of the 50 steam…
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