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Private company

Berry Corp (bry)

Berry Corp (bry) is an American crude petroleum and natural gas company, incorporated in Delaware.1 It is headquartered in Dallas, Texas.1

Last updated Oct 21, 2026.

Overview

  • IndustryCrude Petroleum & Natural Gas1
  • HeadquartersDallas, Texas1
  • Incorporated inDE2
  • Business address16000 N. Dallas Parkway, Suite 500, Dallas, Tx 752482
  • Filer categoryAccelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

2.5%Net margin4
-9.2%Revenue growth, 20244
2.6%Return on equity4
0.53×Debt to equity4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Other costs96¢$755.8M
  • Income tax1¢$8.8M
  • Profit2¢$19.3M

Out of $783.8M in revenue.4

Where each dollar of operating cash went, fiscal 2024

  • Dividends paid23¢$49.0M
  • Kept or used elsewhere77¢$161.2M

Out of $210.2M of cash from operations.4

Financial statements

Revenue56784$783.8M in 2024+33% since 2018
0$500.0M$1.0B$1.5B2018: $591.2M$591.2M20182019: $597.4M$597.4M2019+1%2020: $406.1M$406.1M2020−32%2021: $701.3M$701.3M2021+73%2022: $1.1B$1.1B2022+50%2023: $863.5M$863.5M2023−18%2024: $783.8M$783.8M2024−9%
Net income56784$19.3M in 2024−87% since 2018
-$400.0M-$200.0M0$200.0M$400.0M2018: $147.1M$147.1M20182019: $43.5M$43.5M2019−70%2020: -$262.9M-$262.9M20202021: -$15.5M-$15.5M2021−94%2022: $250.2M$250.2M20222023: $37.4M$37.4M2023−85%2024: $19.3M$19.3M2024−49%
Fiscal year2018201920202021202220232024
Revenue$591.2M5$597.4M6$406.1M7$701.3M8$1.1B4$863.5M4$783.8M4
Operating expenses$526.9M8$679.5M4$812.4M4$709.4M4
Interest$35.6M5$34.2M6$34.3M7$32.0M8$30.9M8$35.4M8
Income before tax-$14.1M8$207.7M4$55.4M4$28.1M4
Income tax$43.0M5-$36.5M6-$7.2M7$1.4M8-$42.4M4$18.0M4$8.8M4
Net income$147.1M5$43.5M6-$262.9M7-$15.5M8$250.2M4$37.4M4$19.3M4
Earnings per share$0.855$0.546-$3.297-$0.198$3.194$0.494$0.254
Earnings per share (diluted)$0.855$0.536-$3.297-$0.198$3.034$0.484$0.254
Shares (weighted, basic)80.2M shares878.5M shares476.0M shares476.8M shares4
Shares (weighted, diluted)80.2M shares882.6M shares477.6M shares477.0M shares4

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Corporate structure

Berry Corp (bry) is part of a group headed by California Resources Corporation. 14 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Berry Corp (bry)

  • California Resources Corporation Long Beach, California, United States
    • Berry Corp (bry) Dallas, Texas
      • C&J Well Services, LLC Subsidiary · Delaware, United States
    • AERA ENERGY LLC Subsidiary · Long Beach, California, United States
    • Berry Petroleum Company, LLC Subsidiary · Delaware, United States
    • CALIFORNIA RESOURCES DEVELOPMENT JV, LLC Subsidiary · Long Beach, California, United States
    • California Resources Elk Hills, LLC Subsidiary · Delaware, United States
    • CRC MARKETING, INC. Subsidiary · Long Beach, California, United States
    • Green Gate Intermediate LLC Subsidiary · Delaware, United States
    • Green Gate Resources E LLC Subsidiary · Delaware, United States
    • Green Gate Resources Holdings LLC Subsidiary · Delaware, United States
    • Green Gate Resources Parent LLC Subsidiary · Delaware, United States
    • Green Gate Resources S LLC Subsidiary · Delaware, United States
    • Petra Merger Sub S, LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Berry Corp (bry) reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$171.3M4 Dec 31, 2024$167.8M4 Dec 31, 2023+2.1%
Accumulated depreciation$91.1M4 Dec 31, 2024$74.7M4 Dec 31, 2023+22.0%
Property and equipment, net$80.2M4 Dec 31, 2024$93.1M4 Dec 31, 2023−13.8%
Operating-lease assets (leased space)$5.1M4 Dec 31, 2024$7.5M4 Dec 31, 2023−32.4%
Oil and gas properties$1.2B4 Dec 31, 2024$1.3B4 Dec 31, 2023−5.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$15.3M4 Dec 31, 2024$4.8M4 Dec 31, 2023+217.2%

Leadership

Who has led Berry Corp (bry), and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Arthur T. Smith2018–2022
  2. Fernando Araujo2023–now

Chair

  1. Arthur T. Smith2023–2024

President

  1. Arthur T. Smith2018–2022
  2. Danielle E. Hunter2023–now

Chief financial officer

  1. Cary D. Baetz2018–2022
  2. Michael S. Helm2023–2024
  3. Jeffrey D. Magids2025–now

Chief operating officer

  1. Gary A. Grove2018–2020
  2. Fernando Araujo2020–2022
20202025
Board members and other officers (20)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Berry Petroleum Company, LLC Delaware3
  • C&J Well Services, LLC Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Berry Petroleum CorpJun 12, 2017 to Feb 18, 20202

Timeline

  1. Dec 18, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer39
  2. Dec 15, 20258-K Shareholder vote; Regulation FD disclosure; Other events40
  3. Nov 12, 20258-K Other events41
  4. Nov 5, 20258-K Results of operations42
  5. Sep 16, 20258-K Entered a material agreement; Executive or director change43
  6. Sep 15, 20258-K Regulation FD disclosure44
  7. Aug 7, 20258-K Results of operations45
  8. May 22, 20258-K Shareholder vote46
  9. May 8, 20258-K Results of operations47
  10. Apr 23, 20258-K Results of operations; Regulation FD disclosure48
  11. Mar 12, 20258-K Results of operations49
  12. Jan 22, 20258-K Executive or director change; Regulation FD disclosure50
  13. Feb 22, 2023New chief executive Fernando Araujo becomes CEO12
  14. Oct 4, 2018New chief executive Arthur T. Smith becomes CEO13

Calendar

When it reported results

  1. Nov 5, 2025Reported quarterly or annual results42
  2. Aug 7, 2025Reported quarterly or annual results45
  3. May 8, 2025Reported quarterly or annual results47
  4. Apr 23, 2025Reported quarterly or annual results48
  5. Mar 12, 2025Reported quarterly or annual results49
  6. Nov 7, 2024Reported quarterly or annual results51
  7. Aug 9, 2024Reported quarterly or annual results52
  8. May 1, 2024Reported quarterly or annual results53

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

279 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 49 major events, 121 insider forms, 30 large holders, 62 other. The latest 20:

  1. Feb 17, 2026SCHEDULE 13G/A EDGAR
  2. Jan 9, 202615-12G/A EDGAR
  3. Jan 6, 202615-12G EDGAR
  4. Dec 22, 2025EFFECT EDGAR
  5. Dec 18, 20254 EDGAR
  6. Dec 18, 20254 EDGAR
  7. Dec 18, 20254 EDGAR
  8. Dec 18, 20254 EDGAR
  9. Dec 18, 20254 EDGAR
  10. Dec 18, 20254 EDGAR
  11. Dec 18, 20254 EDGAR
  12. Dec 18, 20254 EDGAR
  13. Dec 18, 20254 EDGAR
  14. Dec 18, 2025S-8 POS EDGAR
  15. Dec 18, 20254 EDGAR
  16. Dec 18, 2025S-8 POS EDGAR
  17. Dec 18, 2025POS AM EDGAR
  18. Dec 18, 20258-K EDGAR
  19. Dec 15, 20258-K EDGAR
  20. Dec 8, 2025425 EDGAR

The 279 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

42 open-market trades by officers, directors and large owners since October 2021: 3 buys and 39 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 23, 2024Araujo FernandoChief Executive OfficerSale33,950$6.22$211.2KForm 4
Dec 13, 2023Hunter Danielle E.PresidentSale30,000Form 4
Sep 1, 2023Hunter Danielle E.PresidentSale15,000$8.77$131.6KForm 4
Aug 18, 2023Hunter Danielle E.PresidentSale10,000$8.25$82.5KForm 4
Aug 18, 2023Smith Arthur T.Executive ChairmanSale81,365$8.28$673.7KForm 4
Aug 17, 2023Hunter Danielle E.PresidentSale14,800$8.50$125.8KForm 4
Aug 17, 2023Smith Arthur T.Executive ChairmanSale18,635$8.47$157.8KForm 4
Aug 10, 2023Hunter Danielle E.PresidentSale200$8.50$1.7KForm 4
Jun 16, 2023Smith Arthur T.Executive ChairmanSale50,000$7.15$357.5KForm 4
Apr 17, 2023Smith Arthur T.Executive ChairmanSale100,000$8.21$821.0KForm 4
Apr 3, 2023Hunter Danielle E.PresidentSale30,000$8.26$247.8KForm 4
Mar 16, 2023Smith Arthur T.Executive ChairmanSale100,000$7.26$726.0KForm 4
Dec 15, 2022Shourie RajathDirectorBuy10,000$7.71$77.1KForm 4
Dec 14, 2022Shourie RajathDirectorBuy20,000$7.81$156.2KForm 4
Dec 13, 2022Shourie RajathDirectorBuy20,000$7.82$156.4KForm 4
Nov 8, 2022Oaktree Capital Group Holdings GP, LLC10% ownerSale1,000,000$9.60$9.6MForm 4
Nov 8, 2022OAKTREE HOLDINGS, LLC10% ownerSale1,000,000$9.60$9.6MForm 4
Oct 13, 2022Oaktree Capital Group, LLC10% ownerSale2,825,000$8.50$24.0MForm 4
Oct 13, 2022Oaktree Opportunities Fund X Holdings (Delaware), L.P.10% ownerSale2,825,000$8.50$24.0MForm 4
Oct 7, 2022OAKTREE CAPITAL MANAGEMENT LP10% ownerSale1,000,000$9.00$9.0MForm 4

All 42 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Fernando AraujoChief Executive Officer57$550.0K$3.7M65
2024Danielle HunterPresident42$475.0K$2.5M65
2024Michael HelmVP, Chief Financial Officer and Chief Accounting Officer57$395.0K$1.4M65
2024A. Trem SmithFormer Executive Chair of the Board$137.5K$303.5K65
2023A. Trem SmithFormer Executive Chair of the Board$650.0K$4.6M65
2023Fernando AraujoChief Executive Officer57$525.0K$3.4M65
2023Danielle HunterPresident42$475.0K$2.6M65
2023Michael HelmVP, Chief Financial Officer and Chief Accounting Officer57$375.0K$1.3M65
2022A. Trem SmithFormer Executive Chair of the Board$650.0K$6.0M65
2022Fernando AraujoChief Executive Officer57$480.0K$2.6M65

SEC filer profile

How Berry Corp (bry) is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBerry Corp (bry)1
  • CIK0001705873
  • Employer ID (EIN)81-541047066
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company66
  • Incorporated inDelaware66
  • Fiscal year endsDecember 311
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address16000 N. Dallas Parkway, Suite 500, Dallas, TX 752481
  • Phone214-453-29201
  • Shares outstanding77,607,094 as of Oct 31, 202510
  • Public float$433.5M as of Jun 30, 202466
  • AuditorKPMG LLP, Dallas, TX PCAOB ID 185; it also attests to the company’s internal control over financial reporting66
  • On EDGAR sinceJun 12, 20171
  • Filings522 in all: 4 (196), 8-K (87), SC 13G/A (35), 3 (28), 10-Q (23), 425 (14), CORRESP (14), SC 13G (14)1
    All 41 form types

    UPLOAD (13), 144 (8), 4/A (8), 424B3 (8), DEFA14A (8), 10-K (7), DEF 14A (7), EFFECT (7), SCHEDULE 13G/A (5), ARS (3), DRSLTR (3), POS AM (3), S-8 POS (3), 424B1 (2), 8-K/A (2), DRS (2), DRS/A (2), S-1 (2), S-3 (2), S-8 (2), SD (2), 144/A (1), 15-12G (1), 15-12G/A (1), 25-NSE (1), 3/A (1), 424B4 (1), 424B5 (1), 8-A12B (1), CERT (1), DEFM14A (1), S-1/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2025
    Quarterly report (10-Q) Nov 5, 2025
    Proxy statement (DEF 14A) Apr 7, 2025
    Latest 8-K (8-K) Dec 18, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareBRYNasdaq Global Select Market

From the cover page of the 10-K filed Mar 13, 2025 (Section 12(b) of the Exchange Act).66

Risk factors and legal proceedings

The risks Berry Corp (bry) names in Item 1A of its 10-K filed Mar 13, 2025: 44 risks under these headings, as written.66

  • If any of the following risks actually occur, our business, financial condition and results of operations could be materially and adversely affected and we may not be able to achieve our goals. We cannot assure you that any of the events discussed in the risk factors below will not occur. Further, the risks and uncertainties described below are not the only risks and uncertainties we face. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may ultimately materially affect our business.
  • Risks Related to Our Operations and Industry
  • Risks Related to Our Financial Condition
  • Risks Related to Regulatory Matters
  • Risks Related to our Capital Stock
  • Attempts by the California state government to restrict the production of oil and gas could negatively impact our operations and result in decreased demand for fossil fuels within the states where we operate.
  • There are significant uncertainties with respect to obtaining permits for oil and gas activities in Kern County, where all of our California operations are located, which could impact our financial condition and results of operations.
  • Our producing properties are located primarily in California, making us vulnerable to risks associated with having operations concentrated in this geographic area.
  • Our ability to operate profitably and maintain our business and financial condition are highly dependent on commodity prices, which historically have been very volatile and are driven by numerous factors beyond our control. If oil prices were to significantly decline for a prolonged period of time, our business, financial condition and results of operations may be materially and adversely affected.
  • Global geopolitical tensions and related price volatility and geopolitical instability could negatively impact our business.
  • Our operations and financial performance may be negatively affected directly or indirectly by changes in trade policies and tariffs.
  • We may be unable to make attractive acquisitions or successfully integrate acquired businesses or assets or enter into attractive joint ventures, and any inability to do so may disrupt our business and hinder our ability to grow.
The other 36 risks
  • The marketability of our production is dependent upon transportation and storage facilities and other facilities, most of which we do not control, and the availability of such transportation and storage capabilities. If we are unable to access such facilities on commercially reasonable terms, our operations would likely be interrupted, our production could be curtailed, and our revenues reduced, among other adverse consequences.
  • Information technology and operational failures and cyberattacks could significantly affect our business, financial condition, results of operations and cash flows.
  • A significant amount of our operations are in California, much of which is conducted in areas that may be at risk of damage from fire, mudslides, earthquakes, floods or other natural disasters or extreme weather events.
  • Operational issues and inability or unwillingness of third parties to provide sufficient facilities and services to us on commercially reasonable terms or otherwise could restrict access to markets for the commodities we produce.
  • Unless we replace oil and natural gas reserves, our future reserves and production will decline.
  • Estimates of proved reserves and related future net cash flows are not precise. The actual quantities of our proved reserves and future net cash flows may prove to be different from estimates.
  • Drilling for and producing oil and natural gas involves many uncertainties that could adversely affect our results.
  • We may not drill our identified sites at the times we scheduled or at all.
  • Competition in the oil and natural gas industry is intense, making it more difficult for us to acquire properties, market oil or natural gas and secure trained personnel.
  • The loss of senior management or technical personnel could adversely affect our results and operations.
  • We are dependent on our cogeneration facilities to produce steam for our operations. Contracts for the sale of surplus electricity, economic market prices and regulatory conditions affect the economic value of these facilities to our operations.
  • We may incur substantial losses and be subject to substantial liability claims as a result of catastrophic events. We may not be insured for, or our insurance may be inadequate to protect us against, these risks.
  • We may be involved in legal proceedings that could result in substantial liabilities.
  • Increasing attention to environmental, social and governance (“ESG”) matters may impact our business.
  • The Climate Corporate Data Accountability Act and Climate-Related Financial Risk Act both impose climate-related reporting obligations including GHG emissions which could result in additional costs for compliance, restrictions on our access to capital, and increased litigation and reputational risk.
  • Our existing debt agreements have restrictive covenants that could limit our growth, financial flexibility and our ability to engage in certain activities. In addition, the borrowing base under the 2024 Revolver is subject to periodic redeterminations and our lenders could reduce capital available to us for investment.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our debt arrangements, which may not be successful.
  • Our business requires continual capital expenditures. We may be unable to fund these investments through operating cash flow or obtain any needed additional capital on satisfactory terms or at all, which could lead to a decline in our oil and natural gas reserves or production. Our capital program is also susceptible to risks, including regulatory and permitting risks, that could materially affect its implementation.
  • Our hedging activities limit our ability to realize the full benefits of increases or decreases in commodity prices and our potential gains or savings.
  • We may be unable to, or may choose not to, enter into sufficient fixed-price purchase or other hedging agreements to fully protect against decreasing spreads between the price of natural gas and oil on an energy equivalent basis or may otherwise be unable to obtain sufficient quantities of natural gas to conduct our steam operations economically or at desired levels, and our commodity price risk management activities may prevent us from fully benefiting from price increases and may expose us to other risks.
  • Declines in commodity prices, changes in expected capital development, increases in operating costs or adverse changes in well performance may result in write-downs of the carrying amounts of our assets.
  • Inflation could adversely impact our ability to control our costs, including our operating expenses and capital costs.
  • Variable rate indebtedness under our 2024 Term Loan and 2024 Revolver subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • We may not be able to use a portion of our net operating loss carryforwards and other tax attributes to reduce our future U.S. federal and state income tax obligations, which could adversely affect our cash flows.
  • We have significant concentrations of credit risk with our customers and the inability of one or more of our customers to meet their obligations or the loss of any one of our major oil and natural gas purchasers may have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • Our business is highly regulated and governmental authorities can delay or deny permits and approvals or change the requirements governing our operations, including the permitting approval process for oil and gas exploration, extraction, operations and production activities; well stimulation and other enhanced production techniques; and fluid injection or disposal activities, any of which could increase costs, restrict operations and delay our implementation of, or cause us to change, our business strategy and plans.
  • Our operations are subject to a series of risks arising out of the threat of climate change that could result in increased operating costs, limit the areas in which we may conduct oil and natural gas E&P activities, and reduce demand for the oil and natural gas we produce.
  • Potential future legislation may generally affect the taxation of natural gas and oil exploration and development companies and may adversely affect our operations and cash flows.
  • Derivatives legislation and regulations could have an adverse effect on our ability to use derivative instruments to reduce the risks associated with our business.
  • The Inflation Reduction Act could accelerate the transition to a low-carbon economy and could impose new costs on our operations.
  • There may be circumstances in which the interests of our significant stockholders could be in conflict with the interests of our other stockholders.
  • Future sales of our common stock in the public market could reduce our stock price, and any additional capital raised by us through the sale of equity or convertible securities may dilute your ownership in us.
  • The payment of dividends will be at the discretion of our Board of Directors.
  • We may issue preferred stock, the terms of which could adversely affect the voting power or value of our common stock.
  • Certain provisions of our Certificate of Incorporation and Bylaws may make it difficult for stockholders to change the composition of our Board of Directors and may discourage, delay or prevent a merger or acquisition that some stockholders may consider beneficial.
  • Our Certificate of Incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or agents.

Legal proceedings

We are involved in various legal and administrative proceedings in the normal course of business, the ultimate resolutions of which, in the opinion of management, are not anticipated to have a material effect on our results of operations, liquidity or financial condition.

Securities Litigation Matter

On November, 20, 2020, a putative securities class action (the “Securities Class Action”) was filed in the United States District Court for the Northern District of Texas, claiming that Berry Corp. and certain of its current and former directors and officers violated the Securities Act of 1933 and the Exchange Act of 1934 by allegedly making false and misleading statements between the IPO and November 3, 2020, and in the IPO offering materials, about the Company’s permits and permitting processes.

While the motion for class certification was still pending before the court, the parties reached an agreement-in-principle to settle all claims in the Securities Class Action for an aggregate sum of $2.5 million. Following notice to the class and an opt-out and objection process, the Court granted final approval of the settlement on February 6, 2024, and terminated the case. The Defendants continue to maintain that the claims were without merit and admitted no liability in connection with the settlement.

The opening of Item 3, Legal Proceedings.66

Sources

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