Brief: Berry Petroleum Q4 Adjusted Earnings Per Share $0.41

Berry (Bry)

27/02/2020 07:29

Feb 27 (Reuters) - Berry Petroleum Corp  BRY.O :
    * REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2019 RESULTS; CONTINUES TO DELIVER TOP TIER
INDUSTRY
RETURNS, ACHIEVED DOUBLE DIGIT CALIFORNIA PRODUCTION GROWTH; REPLACED NEARLY 300% OF CALIFORNIA
RESERVES
    * Q4 ADJUSTED EARNINGS PER SHARE $0.41
    * Q4 LOSS PER SHARE $0.09
    * Q4 EARNINGS PER SHARE ESTIMATE $0.41 -- REFINITIV IBES DATA
    * BERRY PETROLEUM CORP - AVERAGE DAILY PRODUCTION IN Q4 2019 OF 31,300 BOE/D WAS 12% HIGHER
THAN
PRIOR YEAR Q4 AND INCREASED 6% COMPARED TO Q3 2019
    * BERRY PETROLEUM -EXPECTS DRILLING ABOUT 195 TO 225 GROSS DEVELOPMENT WELLS DURING 2020,
ALMOST
ALL OF WHICH WILL BE IN CALIFORNIA FOR OIL PRODUCTION
    * BERRY PETROLEUM - EXPECTS TO EMPLOY UP TO THREE DRILLING RIGS IN CALIFORNIA DURING LAST
THREE
QUARTERS OF 2020
    * BERRY PETROLEUM CORP - EXPECTS TO EMPLOY UP TO ONE RIG THROUGHOUT MOST, IF NOT ALL, OF Q1
OF
2020
    * BERRY PETROLEUM CORP - SEES FY 2020 AVERAGE DAILY PRODUCTION BETWEEN 29.5 MBOE/D AND 32.5
MBOE/D
    * BERRY PETROLEUM CORP - SEES FY 2020 CAPITAL EXPENDITURES BETWEEN $ 125 MILLIONS AND $ 145
MILLIONS
    * BERRY PETROLEUM CORP - SEES FY 2020 NEW DRILL WELLS BETWEEN 195 AND 225

Source text for Eikon:  ID:nGNX9QKz5p 
Further company coverage:  BRY.O 

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