Berry Petroleum Co., Bakersfield, Calif., (NYSE: BRY) has purchased a 50% working interest in approximately 70,000 gross (60,000 net) undeveloped acres in Phillips and Sedgwick counties, Colorado, from Chandler Energy LLC. This additional leasehold position is adjacent to Berry's producing assets in Yuma County. Berry is operator of the acreage and expects to drill the first delineation wells in mid-2006. The company's interest in this shallow gas development area now totals approximately 550,000 acres.
Recommended Reading
US Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten
2024-04-10 - Pushing up heavy crude prices are falling oil exports from Mexico, the potential for resumption of sanctions on Venezuelan crude, the imminent startup of a Canadian pipeline and continued output cuts by OPEC+.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
WTI Delivered to East Houston Hits Highest Premium in Nearly Three Years
2024-05-01 - Oil takeaway capacity from the Permian Basin will tighten next month due to scheduled pipeline maintenance.
Oil Dips as Demand Outlook Remains Uncertain
2024-02-20 - Oil prices fell on Feb. 20 with an uncertain outlook for global demand knocking value off crude futures contracts.
US Leads Global Oil Production for Sixth Straight Year-EIA
2024-03-11 - The Energy Information Administration says it is unlikely that the record will be broken by another country in the near term.