Berry Corp. Inks Deal to Acquire Private California E&P
California-focused oil producer Berry Corp. is...
California-focused oil producer Berry Corp. is expanding its position through M&A.
Dallas-based Berry Corp. agreed to acquire Macpherson Energy Corp., a privately held operator in Kern County, California, for $70 million in cash, the companies announced July 17.
Scooping up Macpherson Energy will add about 2,400 boe/d (100% oil) of crude production in 2024, Berry said.
Under the terms of the agreement, Berry will pay $50 million at closing—which is expected to occur in the third quarter.
The company expects to pay the remaining $20 million by July 2024 based on its current projects for the pro forma company and Brent crude pricing of $75/bbl.
New data showed that the median sale price for a home in June was $426,056. Meanwhile,...
New data showed that the median sale price for a home in June was $426,056. Meanwhile, the number of US homes is at an all-time low — just over 1 million homes are on the market.
Much of the world will swelter today, with record highs forecast in Europe and a 19th straight day above...
Much of the world will swelter today, with record highs forecast in Europe and a 19th straight day above 110 degrees expected in Phoenix. Less than two weeks after the Earth recorded what scientists said were likely its hottest days in modern history, punishing heat waves are gripping much of the Northern Hemisphere.
Benchmark U.S. crude oil for August delivery fell $1.27 to $74.15 a barrel Monday. Brent crude for September delivery fell $1.37 to $78.50 a barrel.
Wholesale gasoline for August delivery fell 1 cent $2.63 a gallon. August heating oilfell 4 cents to $2.56 a gallon. August natural gasfell 3 cents to $2.51 per 1,000 cubic feet
Dow scores 6th day of wins to start busy week for earnings
U.S. stocks finished at new highs for the year on Monday to kick...
U.S. stocks finished at new highs for the year on Monday to kick off a busy week for corporate earnings,with the Nasdaq leading the way up. The Dow Jones Industrial AverageDJIA rose about 76 points, or 0.2%, ending near 34,585, based on preliminary FactSet data. The S&P 500 indexSPX gained 0.4% and the Nasdaq Composite IndexCOMP closed up 0.9%. That was the Dow’s sixth straight day of wins and marked the highest close since April 2022 for all three major stock indexes, according to Dow Jones Market Data. Equities have rallied as the U.S. economy remains resilient in the face of sharply higher interest rates, keeping investors hopeful about a soft landing, instead of a recession. Treasury Secretary Janet Yellen said on Monday that she doesn’t anticipate a U.S. recession, in an interview with Bloomberg television.
