Berry Petroleum Company (NYSE: BRY) today reported an operations update including preliminary 2012 production and reserves data.
Company production averaged 39,500 BOE/D in the fourth quarter of 2012. This was comprised of 78% oil and 22% natural gas. The Company produced an average of 36,400 BOE/D for 2012, which was comprised of 75% oil and 25% natural gas.
Diatomite production increased 10% over third quarter levels and averaged 3,855 BOE/D in the fourth quarter of 2012. Production continues to increase as the completions from the 2012 drilling program respond to steam injection and the Company benefits from its real-time surveillance monitoring systems.
Uinta production averaged 7,500 BOE/D in the fourth quarter of 2012. The Company continued to experience positive results from its commingled Wasatch / Green River vertical drilling program and is focusing on drilling locations with higher working interest.
Permian fourth quarter production averaged 7,965 BOE/D. The Company drilled a number of strong wells in northeastern Ector County and made operational improvements that reduced the back pressure on some of its wells, which provided a near term improvement in its Permian production. Early results from Berry’s appraisal wells in Borden County were inconclusive for commercial quantities of oil. The Company will continue to evaluate this acreage position.
Source: Business Wire
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