Berry Petroleum ( (BRY) ) has released its Q3 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 through its subsidiary, C&J Well Services.
In its third quarter of 2025 financial report, Berry Corporation announced a net loss of $26 million, alongside a quarterly cash dividend of $0.03 per share. The company highlighted its continued efforts in debt reduction and the successful operation of a new 4-well horizontal Uinta pad, achieving a peak production rate of 4,000 barrels of oil equivalent per day.
Key financial metrics for the quarter included an operating cash flow of $55 million, an adjusted EBITDA of $49 million, and a free cash flow of $38 million. Berry also reported a total debt reduction of approximately $34 million year-to-date. The company maintained a strong safety record with zero recordable incidents in its exploration and production operations.
Looking ahead, Berry Corporation is focused on its pending merger with California Resources Corporation, which is expected to bring strategic synergies and enhance its operational capabilities. The merger is set for a shareholder vote in December 2025, and the company has discontinued providing forward-looking guidance due to the ongoing merger process.