One-Page Deal Sheet
Berry Petroleum Sells Assets for $154 Million
Not Disclosed Berry Corporation
Announced Date
March 04,2009
Close Date
April 01,2009
Transaction Type
Asset
Location
Country
United States
State
Colorado
Transaction Details: Subscribe to see
Berry Petroleum Company today announced that it has entered into an agreement to sell its mature, non-core assets in the Denver-Julesburg basin. This transaction represents essentially all the Company’s properties in Northeastern Colorado. The Company estimates a sales price of approximately $154 million before closing adjustments and includes natural gas reserves, mid-stream assets and an associated gas hedge for six months valued at $14 million. The Company expects to close the sale on or about April 1, 2009with the proceeds used to pay down bank debt.
Production from the property is…
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