Berry Petroleum Company has priced its underwritten public offering of common stock, the agreement includes selling 8 million shares of common stock at a public offering price of $29.25 per share. An estimate of its net proceeds from the sale of common stock, after deducting estimated underwriting discounts and commissions and offering expenses, will be $224 million, assuming the underwriters’ over-allotment option is not exercised.
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Berry Petroleum Company (Berry) is an energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. The Company has organized its operations into seven asset teams: South Midway-Sunset (S. Midway), North Midway-Sunset, including diatomite (N. Midway), Southern California, including Poso Creek and Placerita (S. Cal), Piceance, Uinta, DJ and E. Texas. On July 15, 2008, the Company acquired a 100% working interest in natural gas producing properties on 4,500 net acres in Limestone and Harrison counties in East Texas.
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