Berry Petroleum ( (BRY) ) has released its Q2 earnings. Here is a breakdown of the information Berry Petroleum presented to its investors.
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Berry Corporation, a publicly traded independent upstream energy company, operates primarily in the exploration and production of oil and gas reserves in the western United States, with a focus on California and Utah. The company also provides well servicing and abandonment services.
In its second quarter of 2025 earnings report, Berry Corporation highlighted a net income of $34 million, or $0.43 per diluted share, and announced a quarterly cash dividend of $0.03 per share. The company also reported continued debt reduction and strategic hedging positions to protect cash flows.
Key financial metrics for the quarter included an operating cash flow of $29 million and an Adjusted EBITDA of $53 million. Berry produced 23.9 MBoe/d, with 92% of this being oil, and successfully reduced its total debt by approximately $11 million during the quarter. The company also reported zero recordable incidents in its exploration and production operations.
Berry’s management remains optimistic about future production growth, particularly with the development of its Uinta wells in Utah, which are expected to drive increased production in the latter half of the year. The company has reaffirmed its full-year guidance and continues to focus on strategic debt reduction and shareholder returns.
Looking ahead, Berry Corporation is poised for strong free cash flow generation through the remainder of 2025, supported by its favorable hedge positions and ongoing operational efficiencies. The company is also encouraged by potential regulatory developments in California that could enhance its drilling capabilities.