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Document and Entity Information Document - shares	6 Months Ended
Document and Entity Information Document - shares	Jun. 30, 2018	Jul. 31, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Berry Petroleum Corp
Entity Central Index Key	0001705873
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		81,336,762

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,600	$ 33,905
Accounts receivable, net of allowance for doubtful accounts of $950 at June 30, 2018 and $970 at December 31, 2017	56,860	54,720
Restricted cash	19,710	34,833
Other current assets	14,981	14,066
Total current assets	95,151	137,524
Noncurrent assets:
Oil and natural gas properties	1,382,777	1,342,453
Accumulated depletion and amortization	(88,548)	(54,785)
Oil and natural gas properties, net	1,294,229	1,287,668
Other property and equipment	112,618	104,879
Accumulated depreciation	(8,928)	(5,356)
Other property and equipment, net	103,690	99,523
Other noncurrent assets	22,086	21,687
Total assets	1,515,156	1,546,402
Current liabilities:
Accounts payable and accrued expenses	113,170	97,877
Derivative instruments	11,447	49,949
Liabilities subject to compromise	19,710	34,833
Total current liabilities	144,327	182,659
Noncurrent liabilities:
Long-term debt	457,333	379,000
Derivative instruments	3,563	25,332
Deferred income taxes	0	1,888
Asset retirement obligation	88,575	94,509
Other noncurrent liabilities	12,862	3,704
Commitments and Contingencies-Note 5
Equity:
Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018 and 35,845,001 shares issued at December 31, 2017)	335,000	335,000
Common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018 and 32,920,000 issued at December 31, 2017	33	33
Additional paid-in-capital	536,188	545,345
Treasury stock, at cost	(20,006)	0
Accumulated deficit	(42,719)	(21,068)
Total equity	808,496	859,310
Total liabilities and equity	$ 1,515,156	$ 1,546,402

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 950	$ 970
Series A convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Series A convertible preferred stock, shares authorized (in shares)	250,000,000	250,000,000
Series A convertible preferred stock, shares issued (in shares)	37,669,805	35,845,001
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	33,087,889	32,920,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS $ in Thousands	2 Months Ended
	Feb. 28, 2017 USD ($)
Predecessor
Revenues and other:
(Losses) gains on oil and natural gas derivatives	$ 12,886
Total revenues and other	92,718
Expenses and other:
Transportation expenses	6,194
Marketing expenses	653
General and administrative expenses	7,964
Depreciation, depletion, amortization and accretion	28,149
Taxes, other than income taxes	5,212
(Gains) losses on sale of assets and other, net	(183)
Total expenses and other	79,424
Other income and (expenses):
Interest expense	(8,245)
Other, net	(63)
Total other income and (expenses)	(8,308)
Reorganization items, net	(507,720)
Income (loss) before income taxes	(502,734)
Income tax expense (benefit)	230
Net income (loss)	(502,964)
Predecessor \| Oil, natural gas and natural gas liquids sales
Revenues and other:
Revenues	74,120
Expenses and other:
Cost of goods sold	28,238
Predecessor \| Electricity sales
Revenues and other:
Revenues	3,655
Expenses and other:
Cost of goods sold	3,197
Predecessor \| Marketing revenues
Revenues and other:
Revenues	633
Predecessor \| Other revenues
Revenues and other:
Revenues	$ 1,424

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands	Total	Preferred Stock Series A Preferred Stock	Common stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Balance, December 31, 2017 at Dec. 31, 2017	$ 859,310	$ 335,000	$ 33	$ 545,345	$ (21,068)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	2,320			2,320
Share repurchase for payment of taxes on equity awards	(176)			(176)
Cash dividends declared on Series A Preferred Stock	(11,301)			(11,301)
Purchase of rights to common stock	(20,006)					(20,006)
Net (loss) income	(21,651)				(21,651)
Balance, June 30, 2018 at Jun. 30, 2018	$ 808,496	$ 335,000	$ 33	$ 536,188	$ (42,719)	$ (20,006)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	2 Months Ended	4 Months Ended	6 Months Ended
	Feb. 28, 2017	Jun. 30, 2017	Jun. 30, 2018
Cash flow from operating activities:
Net (loss) income		$ 23,497	$ (21,651)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion, amortization and accretion		27,571	40,288
Amortization of debt issuance costs		7	2,651
Stock-based compensation expense		0	2,320
Deferred income taxes		14,268	(4,537)
(Decrease) increase in allowance for doubtful accounts		0	(20)
Derivative activities:
Total (gains) losses		(48,085)	112,787
Cash settlements		5,856	(46,110)
Cash settlements on early-terminated derivatives		0	(126,949)
(Gains) losses on sale of assets and other, net		(25)	123
Reorganization items, net		(1,385)	(10,763)
Changes in assets and liabilities:
(Increase) decrease in accounts receivable		16,543	(2,120)
(Increase) decrease in other assets		(5,657)	(1,859)
Increase (decrease) in accounts payable and accrued expenses		2,461	8,421
Increase (decrease) in other liabilities		9,886	(2,129)
Net cash (used in) provided by operating activities		44,937	(49,548)
Cash flows from investing activities:
Development of oil and natural gas properties		(23,258)	(37,609)
Purchases of other property and equipment		(9,620)	(7,760)
Proceeds from sale of property, plant, equipment and other		0	3,022
Deposit on acquisition of properties		(39,450)	0
Net cash used in investing activities		(72,328)	(42,347)
Cash flows from financing activities:
Proceeds from sale of Series A Preferred Stock		0	0
Repayments on credit facility		(51,000)	(409,800)
Borrowings on credit facility		36,000	96,800
Proceeds from issuance of senior unsecured notes		0	400,000
Dividends paid on Series A Preferred Stock		0	(11,301)
Purchase of treasury stock		0	(20,006)
Share repurchase for payment of taxes on equity awards		0	(176)
Debt issuance costs		0	(9,050)
Net cash provided by (used in) financing activities		(15,000)	46,467
Net decrease in cash, cash equivalents and restricted cash		(42,391)	(45,428)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning		85,034	68,738
Cash, cash equivalents and restricted cash, ending	$ 85,034	42,643	$ 23,310
Predecessor
Cash flow from operating activities:
Net (loss) income	(502,964)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion, amortization and accretion	28,149
Amortization of debt issuance costs	416
Stock-based compensation expense	0
Deferred income taxes	9
(Decrease) increase in allowance for doubtful accounts	0
Derivative activities:
Total (gains) losses	(12,886)
Cash settlements	534
Cash settlements on early-terminated derivatives	0
(Gains) losses on sale of assets and other, net	(25)
Reorganization items, net	501,872
Changes in assets and liabilities:
(Increase) decrease in accounts receivable	(9,152)
(Increase) decrease in other assets	(2,842)
Increase (decrease) in accounts payable and accrued expenses	18,330
Increase (decrease) in other liabilities	990
Net cash (used in) provided by operating activities	22,431
Cash flows from investing activities:
Development of oil and natural gas properties	(859)
Purchases of other property and equipment	(2,299)
Proceeds from sale of property, plant, equipment and other	25
Deposit on acquisition of properties	0
Net cash used in investing activities	(3,133)
Cash flows from financing activities:
Proceeds from sale of Series A Preferred Stock	335,000
Repayments on credit facility	(497,668)
Proceeds from issuance of senior unsecured notes	0
Dividends paid on Series A Preferred Stock	0
Purchase of treasury stock	0
Share repurchase for payment of taxes on equity awards	0
Debt issuance costs	0
Net cash provided by (used in) financing activities	(162,668)
Net decrease in cash, cash equivalents and restricted cash	(143,370)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning	228,404	$ 85,034
Cash, cash equivalents and restricted cash, ending	$ 85,034

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation “Berry Corp.” refers to Berry Petroleum Corporation, a Delaware corporation which, on and after February 28, 2017 is the sole member of Berry Petroleum Company, LLC. “Berry LLC” refers to Berry Petroleum Company, LLC, a Delaware limited liability company. As the context may require, the “Company”, “we”, “our” or similar words refer to (i) Berry Corp. (the "Successor”) and Berry LLC, its consolidated subsidiary, as of and after February 28, 2017, as a whole or (ii) either Berry Corp. or Berry LLC on an individual basis as of and after February 28, 2017. References to historical activities of the “Company” prior to February 28, 2017, refer to activities of Berry LLC (the "Predecessor”). “LINN Energy” refers to Linn Energy, LLC, a Delaware limited liability company of which Berry LLC was formerly a wholly-owned, indirect subsidiary. Nature of Business Berry Corp. is an independent oil and natural gas company that was incorporated under Delaware law on February 13, 2017. Berry Corp. operates through its wholly-owned subsidiary, Berry LLC. Our properties are located in the United States (“U.S.”), in California (in the San Joaquin and Ventura Basins), Utah (in the Uinta Basin), Colorado (in the Piceance Basin) and east Texas. In July, we completed the initial public offering ("IPO") of our common stock and as a result, on July 26, 2018, our common stock began trading on the NASDAQ Global Select Market under the ticker symbol BRY. Principles of Consolidation and Reporting The information reported herein reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for the fair presentation of the results for the interim periods. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted under Securities and Exchange Commission (“SEC”) rules and regulations. The results reported in these unaudited condensed consolidated financial statements should not necessarily be taken as indicative of results that may be expected for the entire year. This report should be read in conjunction with the financial statements and notes in the Company's audited financial statements for the year ended December 31, 2017 presented in our final prospectus dated July 25, 2018 as filed with the SEC pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended, on July 27, 2018 (the "prospectus"). The condensed consolidated financial statements have been prepared in conformity with GAAP and include the accounts of the Successor and its wholly owned subsidiary after February 28, 2017 and the accounts of the Predecessor prior to February 28, 2017. All significant intercompany transactions and balances have been eliminated upon consolidation. For oil and gas exploration and production joint ventures in which we have a direct working interest, we account for our proportionate share of assets, liabilities, revenue, expense and cash flows within the relevant lines of the financial statements. Bankruptcy Accounting Upon emergence from bankruptcy on February 28, 2017, we adopted fresh start accounting which resulted in Berry Corp. becoming the financial reporting entity. As a result of the application of fresh start accounting and the effects of the implementation of the Plan, the condensed consolidated financial statements on or after February 28, 2017 are not comparable to the condensed consolidated financial statements prior to that date. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP required management of the Company to make informed estimates and assumptions about future events. These estimates and the underlying assumptions affect the amount of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. As fair value is a market-based measurement, it was determined based on the assumptions that we believe market participants would use. We based these assumptions on management's best estimates and judgment. Management evaluates its assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, that management believes to be reasonable under the circumstances. Such assumptions are adjusted when management determines that facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates. Any changes in these assumptions resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. The estimates that are particularly significant to our financial statements include estimates of our reserves of oil and gas, future cash flows from oil and gas properties, depreciation, depletion and amortization, asset retirement obligations, certain revenues and expenses, fair values of commodity derivatives and fair values of assets acquired and liabilities assumed. In addition, as part of fresh-start accounting, we made estimates and assumptions related to our reorganization value, liabilities subject to compromise and the fair value of assets and liabilities recorded. Accounting and Disclosure Changes Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued rules to improve the accounting for share-based payment transactions. We early-adopted these rules retrospectively on April 1, 2018 and as a result are reporting cash paid to tax authorities when we withhold shares from an employee's award as a cash outflow for financing activities on the statement of cash flows. There was no change to the other financial statements as a result of adopting these rules. In November 2016, the FASB issued rules intended to address the diversity in practice in classification and presentation of changes in restricted cash on the statement of cash flows. We adopted these rules retrospectively on January 1, 2018, as a result of which we included restricted cash amounts in our beginning and ending cash balances on the statement of cash flows and included a disclosure reconciling cash and cash equivalents presented on the balance sheets to cash, cash equivalents and restricted cash on the statement of cash flows. New Accounting Standards Issued, But Not Yet Adopted In February 2016, the FASB issued rules requiring lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months and to include qualitative and quantitative disclosures with respect to the amount, timing, and uncertainty of cash flows arising from leases. As an emerging growth company, we have elected to delay the adoption of these rules until they are applicable to non-SEC issuers which is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We expect the adoption of these rules to primarily impact other assets and other liabilities and do not expect a material impact on our consolidated results of operations. During 2016, the FASB issued rules clarifying the new revenue recognition standard issued in 2014. The new rules are intended to improve and converge the financial reporting requirements for revenue from contracts with customers. We are an emerging growth company and have elected to delay adoption of these rules until they are applicable to non-SEC issuers which is for fiscal years beginning after December 31, 2018. We are currently evaluating the impact of the adoption of these rules on our consolidated financial statements and related disclosures.

Emergence from Voluntary Reorganization under Chapter 11

6 Months Ended

Jun. 30, 2018

Reorganizations [Abstract]

Emergence from Voluntary Reorganization under Chapter 11

On December 16, 2013, an affiliate of LINN Energy, LinnCo, LLC (“LinnCo”), acquired all the outstanding common shares of Berry Petroleum Company and contributed Berry Petroleum Company to LINN Energy in exchange for LINN Energy units. In connection with its acquisition by LINN Energy, Berry Petroleum Company was converted from a Delaware corporation into a Delaware limited liability company and changed its name to “Berry Petroleum Company, LLC.” Linn Acquisition Company, LLC, a direct subsidiary of LINN Energy, became Berry LLC’s sole member.

On May 11, 2016 (the “Petition Date”), the LINN entities ("LINN Entities") and, consequently, Berry LLC (collectively, the “Debtors”), filed voluntary petitions (“Bankruptcy Petitions”) for relief under Chapter 11 (“Chapter 11”) of the U.S. Bankruptcy Code (“Bankruptcy Code”) in the U.S. Bankruptcy Court for the Southern District of Texas (“Bankruptcy Court”). The Debtors’ Chapter 11 cases were administered jointly under the caption In re Linn Energy, LLC, et al., Case No. 16-60040 (collectively, the “Chapter 11 Proceedings”). During the pendancy of the Chapter 11 Proceedings, the debtors in the Chapter 11 Proceedings (the “Debtors”), operated their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.

In December 2016, Berry LLC and Linn Acquisition Company, LLC, on the one hand, and LINN Energy and its other affiliated debtors, on the other hand, filed separate plans of reorganization with the Bankruptcy Court. The “Amended Joint Chapter 11 Plan of Reorganization of Linn Acquisition Company, LLC and Berry Petroleum Company, LLC” (the “Plan”) was filed on December 13, 2016. On January 27, 2017, the Bankruptcy Court entered its confirmation order (the “Confirmation Order”) approving and confirming the Plan.

On February 28, 2017, the Plan became effective and was implemented in accordance with its terms. Among other transactions, Linn Acquisition Company, LLC transferred 100% of Berry LLC’s outstanding membership interests to Berry Corp. As a result, Berry LLC emerged from bankruptcy as a wholly-owned subsidiary of Berry Corp., separate from LINN Energy and its affiliates, effective February 28, 2017 (the “Effective Date”).

Plan of Reorganization

On the Effective Date, the Company consummated the following reorganization transactions in accordance with the Plan:


•	Linn Acquisition Company, LLC transferred 100% of the outstanding membership interests in Berry LLC to Berry Corp. pursuant to an assignment agreement, dated February 28, 2017 between Linn Acquisition Company, LLC and Berry Corp. (the “Assignment Agreement”). Under the Assignment Agreement, Berry LLC became a wholly-owned operating subsidiary of Berry Corp.

•

The holders of claims under the Company’s Second Amended and Restated Credit Agreement, dated November 15, 2010, by and among Berry LLC, as borrower, Wells Fargo Bank, N.A., as administrative agent, and certain lenders, (as amended, the “Pre-Emergence Credit Facility”), received (i) their pro rata share of a cash paydown and (ii) pro rata participation in the new facility (the “Emergence Credit Facility”). As a result, all outstanding obligations under the Pre-Emergence Credit Facility were canceled and the agreements governing these obligations were terminated.


•	Berry LLC, as borrower, entered into the Emergence Credit Facility with the holders of claims under the Pre-Emergence Credit Facility, as lenders, and Wells Fargo Bank, N.A, as administrative agent, providing for a new reserve-based revolving loan with up to $550 million in borrowing commitments.

•

The holders of Berry LLC’s 6.75% senior notes due 2020, issued by Berry LLC pursuant to a Second Supplemental Indenture, dated November 1, 2010, and 6.375% senior notes due 2022, issued by Berry LLC pursuant to a Third Supplemental Indenture, dated March 9, 2012 (collectively, the “Unsecured Notes”), received a right to their pro rata share of either (i) 32,920,000 shares of common stock in Berry Corp. or, for those non-accredited investors holding the Unsecured Notes that irrevocably elected to receive a cash recovery, cash distributions from a $35 million cash distribution pool (the “Cash Distribution Pool”) and (ii) specified rights to participate in a two-tranche offering of rights to purchase Series A Preferred Stock at an aggregate purchase price of $335 million (as further defined in the Plan, the “Berry Rights Offerings”). As a result, all outstanding obligations under the Unsecured Notes were canceled and the indentures and related agreements governing these obligations were terminated.

•

The holders of unsecured claims against Berry LLC, other than the Unsecured Notes, (the “Unsecured Claims”) received a right to their pro rata share of either (i) 7,080,000 shares of common stock in Berry Corp. or (ii) in the event that such holder irrevocably elected to receive a cash recovery, cash distributions from the Cash Distribution Pool. As a result, all outstanding obligations under the Unsecured Notes and the indentures governing such obligations were canceled and the obligations arising from the Unsecured Claims were extinguished.


•	Berry LLC settled all intercompany claims against LINN Energy and its affiliates pursuant to a settlement agreement approved as part of the Plan and the Confirmation Order. The settlement agreement provided Berry LLC with a $25 million general unsecured claim against LINN Energy which Berry LLC has fully-reserved.

Liabilities Subject to Compromise

Liabilities subject to compromise decreased from approximately $35 million as of December 31, 2017 to approximately $20 million as of June 30, 2018. Activity for our liabilities subject to compromise for the six months ended June 30, 2018 included the return of $9 million in undistributed funds from restricted cash, approximately $6 million in settlement payments to general unsecured creditors and other payments of professional fees incurred to settle these claims.

Reorganization Items, Net

We have incurred and continue to incur expenses associated with the reorganization. Reorganization items, net represent costs and gains directly associated with the Chapter 11 proceedings since the Petition Date, and also include adjustments to reflect the carrying value of certain liabilities subject to compromise at their estimated allowed claim amounts, as such adjustments were determined. The following table summarizes the components of reorganization items included on the condensed consolidated statements of operations:



	Berry Corp. (Successor)											Berry LLC (Predecessor)
	Three Months Ended			Three Months Ended		Six Months Ended			Four Months Ended			Two Months Ended
	June 30, 2018			June 30, 2017		June 30, 2018			June 30, 2017			February 28, 2017
	(in thousands)
Return of undistributed funds from Cash Distribution Pool	$	—		$	—	$	9,000		$	—		$	—
Refund of pre-emergence prepaid costs	—			—		579			—			—
Gain on settlement of liabilities subject to compromise	—			—		—			—			421,774
Fresh start valuation adjustments	—			—		—			—			(920,699		)
Legal and other professional advisory fees	(1,178		)	713		(1,802		)	112			(19,481		)
Gain on resolution of pre-emergence liabilities	1,634			—		1,634			—			—
Other	—			—		—			(705		)	10,686
Reorganization items, net	$	456		$	713	$	9,411		$	(593	)	$	(507,720	)

In August 2018, we received an additional return of undistributed funds from the Cash Distribution Pool of approximately $14 million.

Debt

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Debt

The following table summarizes our outstanding debt:



	(in thousands)
	June 30, 2018			December 31, 2017		Interest Rate	Maturity	Security
RBL Facility	$	66,000		$	379,000	variable rates of 4.5% (2018) and 4.8% (2017), respectively	June 29, 2022	Mortgage on 85% of Present Value of proven oil and gas reserves
2026 Notes	400,000			—		7.00%	February 15, 2026	Unsecured
Long-Term Debt- Principal Amount	466,000			379,000
Less: Debt Issuance Costs	(8,667		)	—
Long-Term Debt, net	$	457,333		$	379,000

At June 30, 2018 and December 31, 2017, debt issuance costs for the RBL Facility reported in "non current assets" on the balance sheet were approximately $18 million and $21 million net of amortization, respectively. The amortization of debt issuance costs is presented in interest expense on the condensed consolidated statements of operations.

Fair Value

Our debt is recorded at the carrying amount on the balance sheets. The carrying amount of the RBL Facility approximates fair value because the interest rates are variable and reflect market rates. The fair value of the 2026 senior unsecured notes was approximately $408 million at June 30, 2018.

Credit Facilities

On July 31, 2017, we entered into a credit agreement (“RBL Facility”), with Wells Fargo Bank, N.A. as administrative agent and certain lenders with up to $1.5 billion of commitments, subject to a reserves-based borrowing base. In connection with the issuance of the 2026 Notes, the RBL Facility borrowing base was set at $400 million which incorporated a $100 million reduction, or 25% of the face value of the 2026 Notes (as defined below). In March 2018, we completed a borrowing base redetermination which reaffirmed our borrowing base at $400 million with an elected commitment feature that allows us to increase the RBL Facility to $575 million with lender approval.

As of June 30, 2018, the financial performance covenants under our RBL Facility were (i) a leverage ratio of no more than 4.00 to 1.00 and (ii) a current ratio of at least 1.00 to 1.00. At June 30, 2018, our actual ratios were 2.63 to 1.00 and 3.18 to 1.00, respectively. In addition, the RBL Facility currently provides that to the extent we incur unsecured indebtedness, including any amounts raised in the future, the borrowing base will be reduced by an amount equal to 25% of the amount of such unsecured debt. We were in compliance with all financial covenants as of June 30, 2018.

As of June 30, 2018, we had approximately $327 million of available borrowing capacity under the RBL Facility.

As of June 30, 2018 and December 31, 2017, we had letters of credit outstanding of approximately $7 million and $21 million, respectively, under our revolving credit facilities. These letters of credit were issued to support ordinary course of business marketing, insurance, regulatory and other matters.

In July and August 2018, we paid down approximately $105 million on the RBL Facility from the net proceeds we received in the IPO of our common stock (see Note 6). On August 20, 2018, we had approximately $388 million of available borrowing capacity under the RBL Facility and approximately $36 million of cash on hand.

Senior Unsecured Notes Offering

In February 2018, we completed a private issuance of $400 million in aggregate principal amount of 7.00% senior unsecured notes due 2026 (the “2026 Notes”), which resulted in net proceeds to us of approximately $391 million after deducting expenses and the initial purchasers’ discount. We used a portion of the net proceeds from the issuance of the 2026 Notes to repay borrowings under the RBL Facility and used the remainder for general corporate purposes.

Derivatives

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

We have hedged a portion of our forecasted production to reduce exposure to fluctuations in oil and natural gas prices and we target covering our operating expenses and fixed charges two years out. We have also hedged a portion of our exposure to differentials between Brent and WTI. We also, from time to time, have entered into agreements to purchase a portion of the natural gas we require for our operations that we do not record at fair value as derivatives because they qualify for normal purchases and normal sales exclusions.

Our current hedge positions consist of primarily oil swap contracts and deferred premium purchased put options, though in the past we have also used collars and three-way collars and hedged our exposure to natural gas and natural gas liquids (NGL) price changes. We enter into these transactions with respect to a portion of our projected production to provide an economic hedge against the risk related to the future commodity prices received. We do not enter into derivative contracts for speculative trading purposes. We did not designate any of our contracts as cash flow hedges; therefore, the changes in fair value of these instruments are recorded in current earnings.

As part of our hedging program, we entered into a number of derivative transactions that resulted in the following crude oil contracts as of June 30, 2018:



	Q3 2018		Q4 2018		FY 2019		FY 2020
Sold Oil Calls (ICE Brent):
Hedged volume (MBbls)	186		—		—		—
Weighted average price ($/Bbl)	$	81.67	$	—	$	—	$	—
Purchased Put Options (ICE Brent):
Hedged volume (MBbls)	—		—		2,835		455
Weighted average price ($/Bbl)	—		$	—	$	65.00	$	65.00
Fixed Price Swaps (ICE Brent):
Hedged volume (MBbls)	966		966		900		—
Weighted average price ($/Bbl)	$	75.13	$	75.13	$	75.66	$	—
Oil basis differential positions:
ICE Brent-NYMEX WTI basis swaps
Hedged volume (MBbls)	92		92		182.5		—
Weighted average price ($/Bbl)	$	1.29	$	1.29	$	1.29	$	—

We earn a premium on our sold oil calls at the time of sale. We make net settlement payments for prices above the indicated weighted-average price per barrel of Brent. If the calls expire unexercised, no payments are received.

For our purchased puts, we would receive settlement payments for prices below the indicated weighted-average price per barrel of Brent. The purchased put options contain deferred premiums of approximately $17.9 million and are reflected in the mark-to-market valuation of the derivatives on the balance sheet at June 30, 2018. The premiums will be payable in conjunction with the monthly settlements of these contracts and thus have been deferred until payments begin in 2019.

For fixed-price swaps, we make settlement payments for prices above the indicated weighted-average price per barrel of Brent and receive settlement payments for prices below the indicated weighted-average price per barrel of Brent.

For oil basis swaps, we make settlement payments if the difference between Brent and WTI is greater than the indicated weighted-average price per barrel and receive settlement payments if the difference between Brent and WTI is below the indicated weighted-average price per barrel.

Our commodity derivatives are measured at fair value using industry-standard models with various inputs including forward prices, and all are classified as Level 2 in the required fair value hierarchy for the periods presented. The following tables present the fair values (gross and net) of our outstanding derivatives as of June 30, 2018 and December 31, 2017:



	Berry Corp. (Successor)
	June 30, 2018
	Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet		Net Fair Value Presented in the Balance Sheet
	(in thousands)
Liabilities
Commodity Contracts	Current liabilities	$	(11,447	)	$	—	$	(11,447	)
Commodity Contracts	Non-current liabilities	(3,563		)	—		(3,563		)
Total derivatives		$	(15,010	)	$	—	$	(15,010	)



	Berry Corp. (Successor)
	December 31, 2017
	Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet		Net Fair Value Presented in the Balance Sheet
	(in thousands)
Liabilities
Commodity Contracts	Current liabilities	$	(49,949	)	$	—	$	(49,949	)
Commodity Contracts	Non-current liabilities	(25,332		)	—		(25,332		)
Total derivatives		$	(75,281	)	$	—	$	(75,281	)

In May 2018, we elected to terminate outstanding commodity derivative contracts for all WTI oil swaps and certain WTI/Brent basis swaps for July 2018 through December 2019 and all WTI oil sold call options for July 2018 through June 2020. Termination costs totaled approximately $127 million and were calculated in accordance with a bilateral agreement on the cost of elective termination included in these derivative contracts; the present value of the contracts using the forward price curve as of the date termination was elected. No penalties were charged as a result of the elective termination. Concurrently, Berry Corp. entered into commodity derivative contracts consisting of Brent oil swaps for July 2018 through March 2019 and Brent oil purchased put options for January 2019 through March 2020. These Brent oil swaps hedge 1.8 MMBbls in 2018 and 0.9 MMBbls in 2019 at a weighted average price of $75.66. These Brent oil purchased put options provide a weighted-average price floor of $65.00 for 2.8 MMBbls in 2019 and 0.5 MMBbls in 2020. We effected these transactions to move from a WTI-based position to a Brent-based position as well as bring our hedged pricing more in line with current market pricing.

Lawsuits, Claims, Commitments and Contingencies

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Lawsuits, Claims, Commitments and Contingencies

In the normal course of business, we, or our subsidiary, are subject to lawsuits, environmental and other claims and other contingencies that seek, or may seek, among other things, compensation for alleged personal injury, breach of contract, property damage or other losses, punitive damages, civil penalties, or injunctive or declaratory relief.

On May 11, 2016 our predecessor company filed the Chapter 11 Proceeding. Our bankruptcy case was jointly administered with that of Linn Energy and its affiliates under the caption In re Linn Energy, LLC, et al., Case No. 16-60040. On January 27, 2017, the Bankruptcy Court approved and confirmed our plan of reorganization in the Chapter 11 Proceeding. On the Effective Date the plan became effective and was implemented. The Chapter 11 Proceeding will, however, remain pending until final resolution of all outstanding claims. For further information, see Note 2.

We accrue reserves for currently outstanding lawsuits, claims and proceedings when it is probable that a liability has been incurred and the liability can be reasonably estimated. We have not recorded any reserve balances at June 30, 2018 and December 31, 2017. We also evaluate the amount of reasonably possible losses that we could incur as a result of these matters. We believe that reasonably possible losses that we could incur in excess of reserves accrued on our balance sheet would not be material to our consolidated financial position or results of operations.

We have certain commitments under contracts, including purchase commitments for goods and services. At June 30, 2018, purchase obligations of approximately $13 million included a commitment to invest at least $9 million to construct a new access road in connection with our Piceance assets or provide access to an existing road or to pay 50% of the difference between $12 million and the actual amount spent on such access road construction prior to the end of 2019. If we do not obtain extensions for the road obligation, provide access to an existing road or construct a new access road, we may trigger the payment obligation which, if we were unable to negotiate resolution, would reduce our capital available for investment. Also, as of June 30, 2018, we had entered into agreements to purchase natural gas for our operations in 2018 for approximately $7 million.

We, or our subsidiary, or both, have indemnified various parties against specific liabilities those parties might incur in the future in connection with transactions that they have entered into with us. As of June 30, 2018, we are not aware of material indemnity claims pending or threatened against us.

We have entered into operating lease agreements mainly for office space. Lease payments are generally expensed as part of general and administrative expenses. At June 30, 2018, future net minimum lease payments for non-cancelable operating leases (excluding oil and natural gas and other mineral leases, utilities, taxes and insurance and maintenance expense) totaled:



	Amount
	(in thousands)
2018	$	676
2019	1,170
2020	157
2021	159
2022	160
Thereafter	36
Total minimum lease payments	$	2,358

Equity

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Equity

Initial Public Offering of Common Stock

In July, we completed our IPO and as a result, on July 26, 2018, our common stock began trading on the NASDAQ Global Select Market under the ticker symbol BRY. The Company sold 10,497,849 shares and the selling stockholders sold 2,545,630 shares at a price of $14.00 per share. We used a portion of our proceeds to repurchase 1,802,196 shares of our common stock owned by Benefit Street Partners and Oaktree Capital Management. After giving effect to the IPO and the share repurchase, the number of shares of our common stock outstanding increased by 8,695,653. We and the selling stockholders have granted the underwriters the option to purchase up to an additional 1,534,895 shares and 421,626 shares of common stock, respectively, on the same terms and conditions set forth above.

The Company received approximately $136 million in net proceeds from the offering after deducting underwriting discounts and offering expenses payable by us. We did not receive any proceeds from the sale by the selling stockholders. We used approximately $24 million of the net proceeds to purchase shares of our common stock (at a price equal to the price paid by the underwriters for shares of common stock in the offering) from funds affiliated with Benefit Street Partners and Oaktree Capital Management.

Of the remaining approximately $112 million of net proceeds received by us in the IPO, we used approximately $105 million to repay borrowings under our RBL Facility. This included the $60 million we borrowed on the RBL Facility to make the payment to the holders of our Series A Preferred Stock in connection with the conversion of preferred stock to common stock. We used the remainder for general corporate purposes.

In connection with the IPO, each of the 37.7 million shares of our Series A Preferred Stock was automatically converted into 1.05 shares of our common stock or 39.6 million shares in aggregate and the right to receive a cash payment of $1.75 ("Series A Preferred Stock Conversion"). The cash payment was reduced in respect of any cash dividend paid by the Company on such share of Series A Preferred Stock for any period commencing on or after April 1, 2018. Because we paid the second quarter preferred dividend of $0.15 per share in June, the cash payment for the conversion was reduced to $1.60 per share, or approximately $60 million.

Shares Issued and Outstanding

As of July 31, 2018, there were 81,336,762 shares of common stock issued and outstanding including 167,889 common shares that have vested as of June 30, 2018 relating to the Company's Omnibus Incentive Plan. An additional 1,447,998 unvested restricted stock units and performance restricted stock units were outstanding under the Company's Omnibus Incentive Plan as of July 31, 2018. A further 7,080,000 common shares have been reserved for issuance to the general unsecured creditor group pending resolution of disputed claims.

In March 2018, the board of directors approved a cumulative paid-in-kind dividend on the Series A Preferred Stock for the periods through December 31, 2017. The cumulative dividend was 0.050907 per share and approximately 1,825,000 shares in total. Also in March 2018, the board approved a $0.158 per share, or approximately $5.6 million, cash dividend on the Series A Preferred Stock for the quarter ended March 31, 2018. In both cases, the payments were to stockholders of record as of March 15, 2018. In May 2018 the board of directors approved a $0.15 per share, or approximately $5.6 million cash dividend, on the Series A Preferred Stock for the quarter ended June 30, 2018. The payment was to stockholders of record as of June 7, 2018. In July 2018, all shares our of Series A Preferred Stock, approximately 37.7 million in total, were converted to approximately 39.6 million common shares and, as a result, there were no shares of our Series A Preferred Stock outstanding following the IPO.

On August 21, 2018, our board of directors approved a $0.12 per share quarterly cash dividend on our common stock on a pro-rata basis from the date of our IPO through September 30, 2018, which will result in a payment of $0.09 per share.

Purchase of Common Stock

In connection with our IPO, we entered into stock purchase agreements with funds affiliated with each of Benefit Street Partners and Oaktree Capital Management pursuant to which we purchased an aggregate of 1,802,196 shares of our common stock at a price equal to the net proceeds per share received from the IPO of our common stock before expenses. The stock purchase agreement with funds affiliated with Benefit Street Partners requires us to purchase additional shares at the same price if the underwriters exercise their option to purchase additional shares in the IPO.

Treasury Stock Purchase

In March and April 2018, we entered into settlement agreements with two general unsecured creditors from our bankruptcy process. As a result, we paid approximately $20 million to purchase their claims to our common stock that we have reflected as treasury stock. We do not yet know the final amount of shares out of the 7,080,000 set aside that we will issue to third parties with respect to the unsecured claims. When all unsecured claims are settled, we will be able to assign a share count to the treasury stock. See Note 2 under "Plan of Reorganization" and Note 11 for further discussion of the common shares set aside to settle claims.

Stock-Based Compensation

In July 2018, we became a public company and our stock began trading on the NASDAQ Global Select Market. As a result, the estimate of the fair value of our stock-based compensation awards granted will no longer be based on complex models using inputs and assumptions but will be based on the price of our stock at the date of grant.

On June 27, 2018, our board of directors adopted the Berry Petroleum Corporation 2017 Omnibus Incentive Plan, as amended and restated (our “Restated Incentive Plan”). This plan constitutes an amendment and restatement of the plan as in effect immediately prior to the adoption of the Restated Incentive Plan (the "Prior Plan"). The Prior Plan constituted an amendment and restatement of the plan originally adopted as of June 15, 2017 (the "2017 Plan"). The Restated Incentive Plan provides for the grant, from time to time, at the discretion of the board of directors or a committee thereof, of stock options, stock appreciation rights ("SARs"), restricted stock, restricted stock units, stock awards, dividend equivalents, other stock-based awards, cash awards and substitute awards. The maximum number of shares of common stock that may be issued pursuant to an award under the Restated Incentive Plan is 10,000,000 inclusive of the number of shares of common stock previously issued pursuant to awards granted under the Prior Plan or the 2017 Plan. The maximum number of shares remaining that may be issued is approximately 8.3 million.

Included in lease operating expenses and general and administrative expenses is stock-based compensation expense of $44,000 and $1.3 million, respectively, for the three months ended June 30, 2018, and $67,000 and $2.3 million, respectively, for the six months ended June 30, 2018. For the three and six months ended June 30, 2017, including the successor and predecessor periods, there were no such expenses. For the six months ended June 30, 2018, stock-based compensation had an immaterial associated income tax benefit.

The table below summarizes the activity relating to restricted stock units ("RSUs") issued under the 2017 Plan during the six months ended June 30, 2018. The RSUs vest ratably over three years. Unrecognized compensation cost associated with the RSUs at June 30, 2018 is approximately $6.8 million which will be recognized over a weighted average period of approximately two years.



	Number of shares		Weighted average Grant Date Fair Value
	(shares in thousands)
December 31, 2017	683		$	10.12
Granted	205		$	11.50
Vested	(166	)	$	11.68
Forfeited	(26	)	$	10.12
June 30, 2018	696		$	10.20

The table below summarizes the activity relating to the performance-based restricted stock units ("PRSUs") issued under the 2017 Plan during the six months ended June 30, 2018. The PRSUs vest if the Company's stock price reaches certain levels over defined periods of time. Unrecognized compensation cost associated with the PRSUs at June 30, 2018 is approximately $3.8 million which will be recognized over a weighted-average period of approximately two years.



	Number of shares		Weighted average Grant Date Fair Value
	(shares in thousands)
December 31, 2017	622		$	7.09
Granted	132		$	7.49
Vested	—		$	—
Forfeited	(2	)	$	7.09
June 30, 2018	752		$	7.11

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Prior to the Effective Date, Berry LLC was a limited liability company treated as a disregarded entity for federal and state income tax purposes, with the exception of the state of Texas. Limited liability companies are subject to Texas margin tax. As such, with the exception of the state of Texas, Berry LLC was not a taxable entity, it did not directly pay federal and state income taxes and recognition was not given to federal and state income taxes for the operations of Berry LLC. Upon emergence from bankruptcy, Berry Corp. acquired the assets of Berry LLC in a taxable asset acquisition as part of the restructuring. Consequently, we are now taxed as a corporation and have no net operating loss carryforwards for the periods prior to February 28, 2017. On December 22, 2017, the U.S. the Tax Cuts and Jobs Act (the “Act”) which made significant changes to the Internal Revenue Code of 1986, including lowering the maximum federal corporate rate from 35 percent to 21 percent and imposing limitations on the use of net operating losses arising in taxable years ending after December 31, 2017. This was the key contributor to the decrease in our effective rate from 40% in the 2017 Successor periods to 16% and 17% in the three and six months ended June 30, 2018, respectively. We anticipate earnings for fiscal year 2018, in part due to the termination and resetting of our hedge positions in May 2018. These earnings consequently allow for the release of our valuation allowance, described below, resulting in an effective tax rate less than the maximum federal and applicable state tax rate for the six months ended June 30, 2018. There were no current income taxes during the six months ended June 30, 2018 Our accounting for the U.S. Tax Reform Act is incomplete. As noted at year-end, however, we were able to reasonably estimate certain effects and, therefore, recorded provisional adjustments to income tax expense for the revaluation of deferred tax assets and liabilities from 35 percent to 21 percent associated with the reduction in the U.S. corporate income tax rate, and for a valuation allowance on certain deferred tax assets impacted by the Act. We have not revised any of the 2017 provisional estimates. Any subsequent adjustments to these amounts will be recorded to income tax expense in the quarter the analysis is complete.

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows

Other current assets reported on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Prepaid expenses	$	6,692	$	6,901
Oil inventories, materials and supplies	7,062		5,938
Other	1,227		1,227
	$	14,981	$	14,066

The major classes of inventory were not material and therefore not stated separately. Other non-current assets at June 30, 2018 and December 31, 2017, included approximately $18 million and $20 million of deferred financing costs, net of amortization, respectively.

Accounts payable and accrued expenses on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Accounts payable-trade	$	10,698	$	15,469
Accrued expenses	57,531		34,359
Royalties payable	18,811		25,793
Greenhouse gas liability	5,732		10,446
Taxes other than income tax liability	9,428		8,437
Accrued interest	10,970		—
Other	—		3,373
	$	113,170	$	97,877

Supplemental Cash Flow Information

Supplemental disclosures to the statements of cash flows are presented below:



	Berry Corp.					Berry LLC
	(Successor)					(Predecessor)
	Six Months Ended		Four Months Ended			Two Months Ended
	June 30, 2018		June 30, 2017			February 28, 2017
	(in thousands)
Supplemental Disclosures of Significant Non-Cash Investing Activities:
(Decrease) increase in accrued liabilities related to purchases of property and equipment	$	8,614	$	1,172		$	2,249
Supplemental Disclosures of Cash Payments/(Receipts):
Interest	$	3,298	$	5,261		$	8,057
Income taxes	$	—	$	1,168		$	—
Reorganization items, net	$	1,352	$	(792	)	$	11,838

The following table provides a reconciliation of Cash, Cash Equivalents and Restricted Cash as reported in the Consolidated Statements of Cash Flows to the line items within the Consolidated Balance Sheets:



	Berry Corp. (Successor)				Berry LLC (Predecessor)
(in thousands)	Six Months Ended		Four Months Ended		Two Months Ended
Beginning of Period	June 30, 2018		June 30, 2017		February 28, 2017
Cash and cash equivalents	$	33,905	$	32,049	$	30,483
Restricted cash	34,833		52,860		197,793
Restricted cash in other noncurrent assets	—		125		128
Cash, cash equivalents and restricted cash	$	68,738	$	85,034	$	228,404

Ending of Period
Cash and cash equivalents	$	3,600	$	3,735	$	32,049
Restricted cash	19,710		38,908		52,860
Restricted cash in other noncurrent assets	—		—		125
Cash, cash equivalents and restricted cash	$	23,310	$	42,643	$	85,034

Restricted cash is primarily associated with cash reserved to settle claims with the general unsecured creditors resulting from implementation of the Plan. Cash and cash equivalents consists primarily of highly liquid investments with original maturities of three months or less and are stated at cost, which approximates fair value.

Pro Forma Financial Data

PRO FORMA FINANCIAL DATA

The following unaudited pro forma condensed consolidated financial information of Berry Corp. gives effect to the issuance of the 2026 Notes, the Series A Preferred Stock Conversion and the IPO including the application of net proceeds from the IPO. The unaudited pro forma condensed consolidated statement of operations is presented for the six months ended June 30, 2018. The unaudited pro forma condensed consolidated balance sheet is presented as of June 30, 2018. This unaudited pro forma condensed consolidated financial information should be read in conjunction with Berry Corp.’s historical consolidated financial statements as of and for the six months ended June 30, 2018.

The unaudited pro forma condensed consolidated statement of operations gives effect to the issuance of the 2026 Notes, the Series A Preferred Stock Conversion and the IPO, including the application of net proceeds from the offering, as if each had been completed as of January 1, 2017. The unaudited pro forma condensed consolidated balance sheet gives effect to the same transactions as if each had been completed on June 30, 2018.

The unaudited pro forma condensed consolidated financial statements are for informational and illustrative purposes only and are not necessarily indicative of the financial results that would have been had the events and transactions occurred on the dates assumed, nor are such financial statements necessarily indicative of the results of operations in future periods. The pro forma adjustments, as described in the accompanying notes, are based upon currently available information. The historical financial information has been adjusted to give effect to pro forma adjustments that are (i) directly attributable to the 2026 Notes, the Series A Preferred Stock Conversion, the IPO and the application of net proceeds from the offering, (ii) factually supportable, and (iii) expected to have a continuing impact on the Company’s consolidated results.

Background

2026 Notes

In February 2018, we completed a private issuance of $400 million in aggregate principal amount of 7.00% senior unsecured notes due 2026, which resulted in net proceeds of approximately $391 million after deducting expenses and the initial purchasers' discount. A portion of these proceeds were used to repay borrowings under the RBL Facility and the remainder for general corporate purposes.

Series A Preferred Stock Conversion and Common Stock Offering

In connection with our IPO, we amended the Series A Preferred Stock certificate of designation to provide for the automatic conversion of all outstanding shares of Series A Preferred Stock. Pursuant to the amendment, each outstanding share of Series A Preferred Stock was automatically converted into (i) 1.05 shares of common stock and (ii) the right to receive $1.75, minus the amount of any cash dividend paid by the Company on such share of Series A Preferred Stock in respect of any period commencing on or after April 1, 2018.

We received approximately $136 million of net proceeds from the IPO after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We did not receive any proceeds from the sale of shares by the selling stockholders. We used approximately $24 million of the net proceeds to purchase shares of our common stock (at a price equal to the price paid by the underwriters for shares of common stock in the offering) from funds affiliated with Benefit Street Partners and Oaktree Capital Management. Of the remaining approximately $112 million of net proceeds received by us in the IPO, we used approximately $105 million to repay borrowings under our RBL Facility. This included the amounts we borrowed in July on the RBL Facility to make the payment to the holders of our Series A Preferred Stock in connection with the conversion of preferred stock to common stock. We used the remainder for general corporate purposes.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
JUNE 30, 2018
(in thousands)



	Berry Corp. (Successor) June 30, 2018			Series A Preferred Stock Conversion and Common Stock Offering				Berry Corp. (Successor) Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	3,600		$	—		(a) (b)	$	3,600
Accounts receivable, net	56,860							56,860
Restricted cash	19,710							19,710
Other current assets	14,981							14,981
Total current assets	95,151			—				95,151
Noncurrent assets:
Oil and natural gas properties (successful efforts method)	1,382,777							1,382,777
Less accumulated depletion and amortization	(88,548)							(88,548)
	1,294,229							1,294,229
Other property and equipment	112,618							112,618
Less accumulated depreciation	(8,928)							(8,928)
	103,690							103,690
Other noncurrent assets	22,086							22,086
Total assets	$	1,515,156		$	—			$	1,515,156
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	113,170		$	—			$	113,170
Derivative instruments	11,447							11,447
Liabilities subject to compromise	19,710							19,710
Total current liabilities	144,327			—				144,327
Noncurrent liabilities:
Long-term debt	457,333			(51,538		)	(a)	405,795
Derivative instruments	3,563							3,563
Asset retirement obligation	88,575							88,575
Other noncurrent liabilities	12,862							12,862

Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	335,000			(335,000)			(b)	—
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	33			48			(a)(b)	81
Additional paid-in-capital	536,188			386,490			(a)(b)	922,678
Treasury stock, at cost	(20,006		)					(20,006		)
Accumulated deficit	(42,719)							(42,719)

Total equity	808,496			51,538				860,034
Total liabilities and equity	$	1,515,156		$	—			$	1,515,156

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR SIX MONTHS ENDED JUNE 30, 2018
(in thousands, except per share amounts)



	Berry Corp. (Successor) Six Months Ended June 30, 2018			Issuance of 2026 Notes			Series A Preferred Stock Conversion and Common Stock Offering			Berry Corp. (Successor) Pro Forma
Revenues and other:
Oil, natural gas and NGL sales	$	263,010								$	263,010
Electricity sales	11,423									11,423
Gains (losses) on oil and natural gas derivatives	(112,787		)							(112,787		)
Marketing revenues	1,302									1,302
Other revenues	317									317
	163,265			—			—			163,265
Expenses and other:
Lease operating expenses	85,819									85,819
Electricity generation expenses	7,725									7,725
Transportation expenses	5,321									5,321
Marketing expenses	987									987
General and administrative expenses	24,466									24,466
Depreciation, depletion and amortization	40,288									40,288
Taxes, other than income taxes	16,972									16,972
Gains on sale of assets and other, net	123									123
	181,701			—			—			181,701
Other income and (expenses):
Interest expense, net of amounts capitalized	(16,951		)	(854		)			(c)	(17,805		)
Other, net	(212		)							(212		)
	(17,163		)	(854		)	—		(c)	(18,017		)
Reorganization items, net	9,411									9,411
(Loss) income before income taxes	(26,188		)	(854		)	—		(c)	(27,042		)
Income tax expense (benefit)	(4,537		)	(147		)			(c)	(4,684		)
Net income (loss)	(21,651		)	(707		)	—			(22,358		)
Dividends on Series A Preferred Stock	(11,301		)				11,301		(f)	—
Net income (loss) available to common stockholders	$	(32,952	)	$	(707	)	$	11,301		$	(22,358	)
Net income (loss) per share of common stock:
Basic	$	(0.82	)							$	(0.26	)
Diluted	$	(0.82	)							$	(0.26	)
Weighted average common shares outstanding
Basic (g)	40,051						46,333		(d) (e)	86,384
Diluted (g)	40,051						46,333		(d) (e)	86,384

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

1. Basis of Presentation

The accompanying unaudited pro forma condensed consolidated statement of operations presents the financial information of Berry Corp. assuming the events and transactions had occurred on January 1, 2017. The consolidated balance sheet presents the information assuming the transactions occurred on June 30, 2018. Issuance of 2026 Notes Adjustments represent adjustments to give effect to the Company's issuance and net proceeds from the 2026 Notes to the condensed consolidated statement of operations as of the date assumed. Series A Preferred Stock Conversion and Common Stock Offering Adjustments represent adjustments to give effect to the conversion of preferred stock into common stock, including the payment of cash dividends and the common stock offering to the condensed consolidated financial statements as of the date assumed.

2. Pro Forma Balance Sheet Adjustments

(a) Reflects the issuance of 8,695,653 additional net shares of common stock in the offering, the receipt of approximately $112 million of net proceeds, after the repurchase of 1,802,196 shares for approximately $24 million, from funds affiliated with Benefit Street Partners and Oaktree Capital Management in connection with the IPO and the usage of a portion of the net proceeds to pay down the outstanding balance on the RBL Facility. The number of shares and net proceeds does not include a number of shares issued by us equal to the number of shares purchased by us from funds affiliated with Benefit Street Partners and Oaktree Capital Management in connection with the IPO.

(b) Reflects the conversion of the outstanding shares of Series A Preferred Stock into (1) approximately 39.6 million shares of common stock and (2) the cash payment from the IPO net proceeds of $1.60 on each pre-conversion share of Series A Preferred Stock, or approximately $60 million.

3. Pro Forma Statement of Operations Adjustments

Issuance of 2026 Notes Adjustments

(c) The issuance of the 2026 Notes was assumed to have occurred on January 1, 2017 for pro forma purposes and to have resulted in net proceeds of $391 million. As a result, borrowings under the RBL Facility would not have been necessary during this period.

The Company calculated the pro forma adjustment to increase interest expense as a result of the higher interest rate on the 2026 Notes and reversing the interest expense and other fees associated with the RBL Facility for the six months ended June 30, 2018 as follows:



(in thousands)
Reversal of interest expense, unused fee and LOC fee on the RBL Facility	$	(3,251	)
Reversal of 2026 Notes interest expense	(10,970		)
Pro Forma- RBL Facility letter of credit fee ($7.1 million outstanding at 2.625%)	93
Pro Forma-RBL Facility unused availability fee ($393 million availability at 0.5%)	982
Pro Forma 2026 Notes interest expense.	14,000
Pro Forma adjustment to increase interest expense	$	854

The effective tax rate applied to the increased interest expense was 17.3% for the six months ended June 30, 2018.

Series A Preferred Stock Conversion and Common Stock Offering Adjustments

(d) Reflects basic and diluted income per common share giving effect to the issuance of 8,695,653 shares of common stock in the IPO, assuming the IPO occurred January 1, 2017. The number of shares and net proceeds does not include shares purchased from the selling stockholders in the IPO or a number of shares issued by us equal to the number of shares purchased by us from funds affiliated with Benefit Street Partners and Oaktree Capital Management in connection with the IPO.

(e) Reflects the conversion of the outstanding shares of Series A Preferred Stock into approximately 37.7 million shares of common stock, assumed to occur on January 1, 2017.

(f) Reflects the effect of reversing the Series A Preferred Stock dividends, assuming the IPO and the Series A Preferred Stock Conversion occurred January 1, 2017.

(g) Share count includes 7 million shares reserved for issuance to the general unsecured creditors resulting from the bankruptcy process.

Certain Relationships and Related Party Transactions	6 Months Ended
Certain Relationships and Related Party Transactions	Jun. 30, 2018
Related Party Transactions [Abstract]
Certain Relationships and Related Party Transactions	Certain Relationships and Related Party Transactions In connection with our emergence from bankruptcy, we entered into agreements with certain of our affiliates and with parties who received shares of our common stock and Series A Preferred Stock in exchange for their claims. Transition Services and Separation Agreement (“TSSA”) On the Effective Date, Berry LLC entered into the TSSA with LINN Energy and certain of its subsidiaries to facilitate the separation of Berry LLC’s operations from LINN Energy’s operations. Pursuant to the TSSA, (i) LINN Energy continued to provide, or cause to be provided, certain administrative, management, operating, and other services and support to the Company during a transitional period following the Effective Date (the “Transition Services”), (ii) the LINN Energy debtors and Berry LLC separated their previously combined enterprise and (iii) the LINN Energy debtors transferred to Berry LLC certain assets that relate to Berry LLC’s properties or its business, in each case under the terms and conditions specified in the TSSA. Under the TSSA, Berry LLC reimbursed LINN Energy for any and all reasonable, third-party out-of-pocket costs and expenses, without markup, actually incurred by LINN Energy, to the extent documented, in connection with providing the Transition Services. Additionally, Berry LLC paid to LINN Energy a management fee equal to $6 million per month, prorated for partial months, during the period from the Effective Date through the last day of the second full calendar month after the Effective Date (the “Transition Period”) and $2.7 million per month, prorated for partial months, from the first day following the Transition Period through the last day of the second full calendar month thereafter (the “Accounting Period”). During the Accounting Period, the scope of the Transition Services was reduced to specified accounting and administrative functions. The Transition Period under the TSSA ended April 30, 2017, and the Accounting Period ended June 30, 2017. For the four months ended June 30, 2017, we incurred management fee expenses of approximately $17 million under the TSSA. Since the agreement commenced on the Effective Date, no expenses were incurred for the period ended February 28, 2017.

Acquisitions and Divestitures	6 Months Ended
Acquisitions and Divestitures	Jun. 30, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Chevron North Midway-Sunset Acquisition In April 2018, we acquired from LINN Energy Holdings, LLC two leases on an aggregate of 214 acres and a lease option on 490 acres (the "Chevron North Midway-Sunset Acquisition") of land owned by Chevron U.S.A. in the north Midway-Sunset field immediately adjacent to assets we currently operate. We assumed a drilling commitment of approximately $34.5 million over a 5-year term and would assume a further minimum 40 well drilling commitment if we exercise our option; but otherwise we paid no consideration. Our drilling commitment will be tolled for a month for each consecutive 30-day period for which the posted price of WTI is less than $45 per barrel. This transaction is consistent with our business strategy to investigate areas beyond our known productive areas.

Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

The Predecessor was organized as a limited liability company and, as such, did not issue any stock. Accordingly, we have not presented earnings per share calculations for the predecessor company periods.

We calculate basic earnings (loss) per share by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during each period. Common shares issuable upon the satisfaction of certain conditions pursuant to a contractual agreement, such as those shares contemplated by the Plan, are considered common shares outstanding and are included in the computation of net income (loss) per share. Accordingly, the 40 million shares of common stock contemplated by the Plan, without regard to actual issuance dates, were included in the computation of net income (loss) per share for the three and six months ended June 30, 2018, the three months ended June 30, 2017, and the four months ended June 30, 2017. The actual amount of our common stock that will be issued from the 7,080,000 shares reserved for Unsecured Claims and included in the 40 million shares above, cannot be known until all claims are settled, adjustments have been made based on the stock to be received by Unsecured Claims and claims under the Unsecured Notes and, the final number of shares of common stock to be received per dollar of Unsecured Claims, is known. However, while we do not yet know the final amount of shares that we will issue to third parties, we have entered into agreements in March and April 2018 that materially reduced that number.

The Series A Preferred Stock was not a participating security, therefore, we calculated diluted EPS using the “if-converted" method under which the preferred dividends are added back to the numerator and the convertible preferred stock is assumed to be converted at the beginning of the period. No incremental shares of Series A Preferred Stock were included in the diluted EPS calculation for the three and six months ended June 30, 2018, as their effect was antidilutive under the “if-converted” method. However, the convertible preferred stock may potentially dilute basic earnings per share in the future.

In July 2018, all outstanding shares of our Series A Preferred Stock were converted to common shares in connection with the IPO of our common stock (see Note 6).



	Berry Corp. (Successor)												Berry LLC
	Berry Corp. (Successor)												(Predecessor)
	Three Months Ended			Three Months Ended			Six Months Ended			Four Months Ended			Two Months Ended
	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017			February 28, 2017
	(in thousands except per share amounts)
Basic EPS calculation
Net income (loss)	$	(28,061	)	$	12,120		$	(21,651	)	23,497			n/a
less: Dividends on Series A Preferred Stock	(5,650		)	(5,404		)	(11,301		)	(7,196		)	n/a
Net income (loss) available to common stockholders	$	(33,711	)	$	6,716		$	(32,952	)	$	16,301		n/a
Weighted-average shares of common stock outstanding	33,010			32,920			32,971			32,920			n/a
Shares of common stock distributable to holders of Unsecured Claims	7,080			7,080			7,080			7,080			n/a
Weighted-average common shares outstanding-basic	40,090			40,000			40,051			40,000			n/a
Basic Earnings (loss) per share	$	(0.84	)	$	0.17		$	(0.82	)	$	0.41		n/a
Diluted EPS calculation
Net income (loss)	$	(28,061	)	$	12,120		$	(21,651	)	$	23,497		n/a
less: Dividends on Series A Preferred Stock	(5,650		)	(5,404		)	(11,301		)	(7,196		)	n/a
Net income (loss) available to common stockholders	$	(33,711	)	$	6,716		$	(32,952	)	$	16,301		n/a
Weighted-average shares of common stock outstanding	33,010			32,920			32,971			32,920			n/a
Shares of common stock distributable to holders of Unsecured Claims	7,080			7,080			7,080			7,080			n/a
Weighted-average common shares outstanding-basic	40,090			40,000			40,051			40,000			n/a
Dilutive effect of potentially dilutive securities	—			35,845			—			35,845			n/a
Weighted-average common shares outstanding-diluted	40,090			75,845			40,051			75,845			n/a
Diluted Earnings (loss) per share	$	(0.84	)	$	0.16		$	(0.82	)	$	0.31		n/a

Pro Forma Financial Data

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Pro Forma Financial Data

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows

Other current assets reported on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Prepaid expenses	$	6,692	$	6,901
Oil inventories, materials and supplies	7,062		5,938
Other	1,227		1,227
	$	14,981	$	14,066

Accounts payable and accrued expenses on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Accounts payable-trade	$	10,698	$	15,469
Accrued expenses	57,531		34,359
Royalties payable	18,811		25,793
Greenhouse gas liability	5,732		10,446
Taxes other than income tax liability	9,428		8,437
Accrued interest	10,970		—
Other	—		3,373
	$	113,170	$	97,877

Supplemental Cash Flow Information

Supplemental disclosures to the statements of cash flows are presented below:



	Berry Corp.					Berry LLC
	(Successor)					(Predecessor)
	Six Months Ended		Four Months Ended			Two Months Ended
	June 30, 2018		June 30, 2017			February 28, 2017
	(in thousands)
Supplemental Disclosures of Significant Non-Cash Investing Activities:
(Decrease) increase in accrued liabilities related to purchases of property and equipment	$	8,614	$	1,172		$	2,249
Supplemental Disclosures of Cash Payments/(Receipts):
Interest	$	3,298	$	5,261		$	8,057
Income taxes	$	—	$	1,168		$	—
Reorganization items, net	$	1,352	$	(792	)	$	11,838



	Berry Corp. (Successor)				Berry LLC (Predecessor)
(in thousands)	Six Months Ended		Four Months Ended		Two Months Ended
Beginning of Period	June 30, 2018		June 30, 2017		February 28, 2017
Cash and cash equivalents	$	33,905	$	32,049	$	30,483
Restricted cash	34,833		52,860		197,793
Restricted cash in other noncurrent assets	—		125		128
Cash, cash equivalents and restricted cash	$	68,738	$	85,034	$	228,404

Ending of Period
Cash and cash equivalents	$	3,600	$	3,735	$	32,049
Restricted cash	19,710		38,908		52,860
Restricted cash in other noncurrent assets	—		—		125
Cash, cash equivalents and restricted cash	$	23,310	$	42,643	$	85,034

Pro Forma Financial Data

PRO FORMA FINANCIAL DATA

Background

2026 Notes

Series A Preferred Stock Conversion and Common Stock Offering

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
JUNE 30, 2018
(in thousands)



	Berry Corp. (Successor) June 30, 2018			Series A Preferred Stock Conversion and Common Stock Offering				Berry Corp. (Successor) Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	3,600		$	—		(a) (b)	$	3,600
Accounts receivable, net	56,860							56,860
Restricted cash	19,710							19,710
Other current assets	14,981							14,981
Total current assets	95,151			—				95,151
Noncurrent assets:
Oil and natural gas properties (successful efforts method)	1,382,777							1,382,777
Less accumulated depletion and amortization	(88,548)							(88,548)
	1,294,229							1,294,229
Other property and equipment	112,618							112,618
Less accumulated depreciation	(8,928)							(8,928)
	103,690							103,690
Other noncurrent assets	22,086							22,086
Total assets	$	1,515,156		$	—			$	1,515,156
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	113,170		$	—			$	113,170
Derivative instruments	11,447							11,447
Liabilities subject to compromise	19,710							19,710
Total current liabilities	144,327			—				144,327
Noncurrent liabilities:
Long-term debt	457,333			(51,538		)	(a)	405,795
Derivative instruments	3,563							3,563
Asset retirement obligation	88,575							88,575
Other noncurrent liabilities	12,862							12,862

Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	335,000			(335,000)			(b)	—
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	33			48			(a)(b)	81
Additional paid-in-capital	536,188			386,490			(a)(b)	922,678
Treasury stock, at cost	(20,006		)					(20,006		)
Accumulated deficit	(42,719)							(42,719)

Total equity	808,496			51,538				860,034
Total liabilities and equity	$	1,515,156		$	—			$	1,515,156

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR SIX MONTHS ENDED JUNE 30, 2018
(in thousands, except per share amounts)



	Berry Corp. (Successor) Six Months Ended June 30, 2018			Issuance of 2026 Notes			Series A Preferred Stock Conversion and Common Stock Offering			Berry Corp. (Successor) Pro Forma
Revenues and other:
Oil, natural gas and NGL sales	$	263,010								$	263,010
Electricity sales	11,423									11,423
Gains (losses) on oil and natural gas derivatives	(112,787		)							(112,787		)
Marketing revenues	1,302									1,302
Other revenues	317									317
	163,265			—			—			163,265
Expenses and other:
Lease operating expenses	85,819									85,819
Electricity generation expenses	7,725									7,725
Transportation expenses	5,321									5,321
Marketing expenses	987									987
General and administrative expenses	24,466									24,466
Depreciation, depletion and amortization	40,288									40,288
Taxes, other than income taxes	16,972									16,972
Gains on sale of assets and other, net	123									123
	181,701			—			—			181,701
Other income and (expenses):
Interest expense, net of amounts capitalized	(16,951		)	(854		)			(c)	(17,805		)
Other, net	(212		)							(212		)
	(17,163		)	(854		)	—		(c)	(18,017		)
Reorganization items, net	9,411									9,411
(Loss) income before income taxes	(26,188		)	(854		)	—		(c)	(27,042		)
Income tax expense (benefit)	(4,537		)	(147		)			(c)	(4,684		)
Net income (loss)	(21,651		)	(707		)	—			(22,358		)
Dividends on Series A Preferred Stock	(11,301		)				11,301		(f)	—
Net income (loss) available to common stockholders	$	(32,952	)	$	(707	)	$	11,301		$	(22,358	)
Net income (loss) per share of common stock:
Basic	$	(0.82	)							$	(0.26	)
Diluted	$	(0.82	)							$	(0.26	)
Weighted average common shares outstanding
Basic (g)	40,051						46,333		(d) (e)	86,384
Diluted (g)	40,051						46,333		(d) (e)	86,384

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

1. Basis of Presentation

2. Pro Forma Balance Sheet Adjustments

3. Pro Forma Statement of Operations Adjustments

Issuance of 2026 Notes Adjustments



(in thousands)
Reversal of interest expense, unused fee and LOC fee on the RBL Facility	$	(3,251	)
Reversal of 2026 Notes interest expense	(10,970		)
Pro Forma- RBL Facility letter of credit fee ($7.1 million outstanding at 2.625%)	93
Pro Forma-RBL Facility unused availability fee ($393 million availability at 0.5%)	982
Pro Forma 2026 Notes interest expense.	14,000
Pro Forma adjustment to increase interest expense	$	854

The effective tax rate applied to the increased interest expense was 17.3% for the six months ended June 30, 2018.

Series A Preferred Stock Conversion and Common Stock Offering Adjustments

(e) Reflects the conversion of the outstanding shares of Series A Preferred Stock into approximately 37.7 million shares of common stock, assumed to occur on January 1, 2017.

(f) Reflects the effect of reversing the Series A Preferred Stock dividends, assuming the IPO and the Series A Preferred Stock Conversion occurred January 1, 2017.

(g) Share count includes 7 million shares reserved for issuance to the general unsecured creditors resulting from the bankruptcy process.

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation and Reporting	Principles of Consolidation and Reporting The information reported herein reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for the fair presentation of the results for the interim periods. Certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted under Securities and Exchange Commission (“SEC”) rules and regulations. The results reported in these unaudited condensed consolidated financial statements should not necessarily be taken as indicative of results that may be expected for the entire year. This report should be read in conjunction with the financial statements and notes in the Company's audited financial statements for the year ended December 31, 2017 presented in our final prospectus dated July 25, 2018 as filed with the SEC pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended, on July 27, 2018 (the "prospectus"). The condensed consolidated financial statements have been prepared in conformity with GAAP and include the accounts of the Successor and its wholly owned subsidiary after February 28, 2017 and the accounts of the Predecessor prior to February 28, 2017. All significant intercompany transactions and balances have been eliminated upon consolidation. For oil and gas exploration and production joint ventures in which we have a direct working interest, we account for our proportionate share of assets, liabilities, revenue, expense and cash flows within the relevant lines of the financial statements.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP required management of the Company to make informed estimates and assumptions about future events. These estimates and the underlying assumptions affect the amount of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. As fair value is a market-based measurement, it was determined based on the assumptions that we believe market participants would use. We based these assumptions on management's best estimates and judgment. Management evaluates its assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, that management believes to be reasonable under the circumstances. Such assumptions are adjusted when management determines that facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates. Any changes in these assumptions resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. The estimates that are particularly significant to our financial statements include estimates of our reserves of oil and gas, future cash flows from oil and gas properties, depreciation, depletion and amortization, asset retirement obligations, certain revenues and expenses, fair values of commodity derivatives and fair values of assets acquired and liabilities assumed. In addition, as part of fresh-start accounting, we made estimates and assumptions related to our reorganization value, liabilities subject to compromise and the fair value of assets and liabilities recorded.
Recently Adopted Accounting Standards and New Accounting Standards Issued, But Not Yet Adopted	Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued rules to improve the accounting for share-based payment transactions. We early-adopted these rules retrospectively on April 1, 2018 and as a result are reporting cash paid to tax authorities when we withhold shares from an employee's award as a cash outflow for financing activities on the statement of cash flows. There was no change to the other financial statements as a result of adopting these rules. In November 2016, the FASB issued rules intended to address the diversity in practice in classification and presentation of changes in restricted cash on the statement of cash flows. We adopted these rules retrospectively on January 1, 2018, as a result of which we included restricted cash amounts in our beginning and ending cash balances on the statement of cash flows and included a disclosure reconciling cash and cash equivalents presented on the balance sheets to cash, cash equivalents and restricted cash on the statement of cash flows. New Accounting Standards Issued, But Not Yet Adopted In February 2016, the FASB issued rules requiring lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months and to include qualitative and quantitative disclosures with respect to the amount, timing, and uncertainty of cash flows arising from leases. As an emerging growth company, we have elected to delay the adoption of these rules until they are applicable to non-SEC issuers which is for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We expect the adoption of these rules to primarily impact other assets and other liabilities and do not expect a material impact on our consolidated results of operations. During 2016, the FASB issued rules clarifying the new revenue recognition standard issued in 2014. The new rules are intended to improve and converge the financial reporting requirements for revenue from contracts with customers. We are an emerging growth company and have elected to delay adoption of these rules until they are applicable to non-SEC issuers which is for fiscal years beginning after December 31, 2018. We are currently evaluating the impact of the adoption of these rules on our consolidated financial statements and related disclosures.

Emergence from Voluntary Reorganization under Chapter 11 (Tables)

6 Months Ended

Jun. 30, 2018

Reorganizations [Abstract]

Reorganization Items, Net

The following table summarizes the components of reorganization items included on the condensed consolidated statements of operations:



	Berry Corp. (Successor)											Berry LLC (Predecessor)
	Three Months Ended			Three Months Ended		Six Months Ended			Four Months Ended			Two Months Ended
	June 30, 2018			June 30, 2017		June 30, 2018			June 30, 2017			February 28, 2017
	(in thousands)
Return of undistributed funds from Cash Distribution Pool	$	—		$	—	$	9,000		$	—		$	—
Refund of pre-emergence prepaid costs	—			—		579			—			—
Gain on settlement of liabilities subject to compromise	—			—		—			—			421,774
Fresh start valuation adjustments	—			—		—			—			(920,699		)
Legal and other professional advisory fees	(1,178		)	713		(1,802		)	112			(19,481		)
Gain on resolution of pre-emergence liabilities	1,634			—		1,634			—			—
Other	—			—		—			(705		)	10,686
Reorganization items, net	$	456		$	713	$	9,411		$	(593	)	$	(507,720	)

Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following table summarizes our outstanding debt:



	(in thousands)
	June 30, 2018			December 31, 2017		Interest Rate	Maturity	Security
RBL Facility	$	66,000		$	379,000	variable rates of 4.5% (2018) and 4.8% (2017), respectively	June 29, 2022	Mortgage on 85% of Present Value of proven oil and gas reserves
2026 Notes	400,000			—		7.00%	February 15, 2026	Unsecured
Long-Term Debt- Principal Amount	466,000			379,000
Less: Debt Issuance Costs	(8,667		)	—
Long-Term Debt, net	$	457,333		$	379,000

Derivatives (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

As part of our hedging program, we entered into a number of derivative transactions that resulted in the following crude oil contracts as of June 30, 2018:



	Q3 2018		Q4 2018		FY 2019		FY 2020
Sold Oil Calls (ICE Brent):
Hedged volume (MBbls)	186		—		—		—
Weighted average price ($/Bbl)	$	81.67	$	—	$	—	$	—
Purchased Put Options (ICE Brent):
Hedged volume (MBbls)	—		—		2,835		455
Weighted average price ($/Bbl)	—		$	—	$	65.00	$	65.00
Fixed Price Swaps (ICE Brent):
Hedged volume (MBbls)	966		966		900		—
Weighted average price ($/Bbl)	$	75.13	$	75.13	$	75.66	$	—
Oil basis differential positions:
ICE Brent-NYMEX WTI basis swaps
Hedged volume (MBbls)	92		92		182.5		—
Weighted average price ($/Bbl)	$	1.29	$	1.29	$	1.29	$	—

Schedule of derivative instruments in statement of financial position

The following tables present the fair values (gross and net) of our outstanding derivatives as of June 30, 2018 and December 31, 2017:



	Berry Corp. (Successor)
	June 30, 2018
	Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet		Net Fair Value Presented in the Balance Sheet
	(in thousands)
Liabilities
Commodity Contracts	Current liabilities	$	(11,447	)	$	—	$	(11,447	)
Commodity Contracts	Non-current liabilities	(3,563		)	—		(3,563		)
Total derivatives		$	(15,010	)	$	—	$	(15,010	)



	Berry Corp. (Successor)
	December 31, 2017
	Balance Sheet Classification	Gross Amounts Recognized at Fair Value			Gross Amounts Offset in the Balance Sheet		Net Fair Value Presented in the Balance Sheet
	(in thousands)
Liabilities
Commodity Contracts	Current liabilities	$	(49,949	)	$	—	$	(49,949	)
Commodity Contracts	Non-current liabilities	(25,332		)	—		(25,332		)
Total derivatives		$	(75,281	)	$	—	$	(75,281	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Lawsuits, Claims, Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease payments for non-cancelable operating leases

At June 30, 2018, future net minimum lease payments for non-cancelable operating leases (excluding oil and natural gas and other mineral leases, utilities, taxes and insurance and maintenance expense) totaled:



	Amount
	(in thousands)
2018	$	676
2019	1,170
2020	157
2021	159
2022	160
Thereafter	36
Total minimum lease payments	$	2,358

Equity (Tables)

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Schedule of share-based compensation, restricted stock units activity



	Number of shares		Weighted average Grant Date Fair Value
	(shares in thousands)
December 31, 2017	683		$	10.12
Granted	205		$	11.50
Vested	(166	)	$	11.68
Forfeited	(26	)	$	10.12
June 30, 2018	696		$	10.20

Schedule of share-based compensation, performance-based restricted stock unit activity



	Number of shares		Weighted average Grant Date Fair Value
	(shares in thousands)
December 31, 2017	622		$	7.09
Granted	132		$	7.49
Vested	—		$	—
Forfeited	(2	)	$	7.09
June 30, 2018	752		$	7.11

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows (Tables)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of other current assets

Other current assets reported on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Prepaid expenses	$	6,692	$	6,901
Oil inventories, materials and supplies	7,062		5,938
Other	1,227		1,227
	$	14,981	$	14,066

Schedule of accounts payable and accrued expenses

Accounts payable and accrued expenses on the condensed consolidated balance sheets included the following:



	Berry Corp. (Successor)
	June 30, 2018		December 31, 2017
	(in thousands)
Accounts payable-trade	$	10,698	$	15,469
Accrued expenses	57,531		34,359
Royalties payable	18,811		25,793
Greenhouse gas liability	5,732		10,446
Taxes other than income tax liability	9,428		8,437
Accrued interest	10,970		—
Other	—		3,373
	$	113,170	$	97,877

Schedule of cash flow, supplemental disclosures

Supplemental disclosures to the statements of cash flows are presented below:



	Berry Corp.					Berry LLC
	(Successor)					(Predecessor)
	Six Months Ended		Four Months Ended			Two Months Ended
	June 30, 2018		June 30, 2017			February 28, 2017
	(in thousands)
Supplemental Disclosures of Significant Non-Cash Investing Activities:
(Decrease) increase in accrued liabilities related to purchases of property and equipment	$	8,614	$	1,172		$	2,249
Supplemental Disclosures of Cash Payments/(Receipts):
Interest	$	3,298	$	5,261		$	8,057
Income taxes	$	—	$	1,168		$	—
Reorganization items, net	$	1,352	$	(792	)	$	11,838



	Berry Corp. (Successor)				Berry LLC (Predecessor)
(in thousands)	Six Months Ended		Four Months Ended		Two Months Ended
Beginning of Period	June 30, 2018		June 30, 2017		February 28, 2017
Cash and cash equivalents	$	33,905	$	32,049	$	30,483
Restricted cash	34,833		52,860		197,793
Restricted cash in other noncurrent assets	—		125		128
Cash, cash equivalents and restricted cash	$	68,738	$	85,034	$	228,404

Ending of Period
Cash and cash equivalents	$	3,600	$	3,735	$	32,049
Restricted cash	19,710		38,908		52,860
Restricted cash in other noncurrent assets	—		—		125
Cash, cash equivalents and restricted cash	$	23,310	$	42,643	$	85,034

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share



	Berry Corp. (Successor)												Berry LLC
	Berry Corp. (Successor)												(Predecessor)
	Three Months Ended			Three Months Ended			Six Months Ended			Four Months Ended			Two Months Ended
	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017			February 28, 2017
	(in thousands except per share amounts)
Basic EPS calculation
Net income (loss)	$	(28,061	)	$	12,120		$	(21,651	)	23,497			n/a
less: Dividends on Series A Preferred Stock	(5,650		)	(5,404		)	(11,301		)	(7,196		)	n/a
Net income (loss) available to common stockholders	$	(33,711	)	$	6,716		$	(32,952	)	$	16,301		n/a
Weighted-average shares of common stock outstanding	33,010			32,920			32,971			32,920			n/a
Shares of common stock distributable to holders of Unsecured Claims	7,080			7,080			7,080			7,080			n/a
Weighted-average common shares outstanding-basic	40,090			40,000			40,051			40,000			n/a
Basic Earnings (loss) per share	$	(0.84	)	$	0.17		$	(0.82	)	$	0.41		n/a
Diluted EPS calculation
Net income (loss)	$	(28,061	)	$	12,120		$	(21,651	)	$	23,497		n/a
less: Dividends on Series A Preferred Stock	(5,650		)	(5,404		)	(11,301		)	(7,196		)	n/a
Net income (loss) available to common stockholders	$	(33,711	)	$	6,716		$	(32,952	)	$	16,301		n/a
Weighted-average shares of common stock outstanding	33,010			32,920			32,971			32,920			n/a
Shares of common stock distributable to holders of Unsecured Claims	7,080			7,080			7,080			7,080			n/a
Weighted-average common shares outstanding-basic	40,090			40,000			40,051			40,000			n/a
Dilutive effect of potentially dilutive securities	—			35,845			—			35,845			n/a
Weighted-average common shares outstanding-diluted	40,090			75,845			40,051			75,845			n/a
Diluted Earnings (loss) per share	$	(0.84	)	$	0.16		$	(0.82	)	$	0.31		n/a

Pro Forma Financial Data (Tables)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Unaudited pro forma condensed consolidated balance sheet

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
JUNE 30, 2018
(in thousands)



	Berry Corp. (Successor) June 30, 2018			Series A Preferred Stock Conversion and Common Stock Offering				Berry Corp. (Successor) Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	3,600		$	—		(a) (b)	$	3,600
Accounts receivable, net	56,860							56,860
Restricted cash	19,710							19,710
Other current assets	14,981							14,981
Total current assets	95,151			—				95,151
Noncurrent assets:
Oil and natural gas properties (successful efforts method)	1,382,777							1,382,777
Less accumulated depletion and amortization	(88,548)							(88,548)
	1,294,229							1,294,229
Other property and equipment	112,618							112,618
Less accumulated depreciation	(8,928)							(8,928)
	103,690							103,690
Other noncurrent assets	22,086							22,086
Total assets	$	1,515,156		$	—			$	1,515,156
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	113,170		$	—			$	113,170
Derivative instruments	11,447							11,447
Liabilities subject to compromise	19,710							19,710
Total current liabilities	144,327			—				144,327
Noncurrent liabilities:
Long-term debt	457,333			(51,538		)	(a)	405,795
Derivative instruments	3,563							3,563
Asset retirement obligation	88,575							88,575
Other noncurrent liabilities	12,862							12,862

Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	335,000			(335,000)			(b)	—
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	33			48			(a)(b)	81
Additional paid-in-capital	536,188			386,490			(a)(b)	922,678
Treasury stock, at cost	(20,006		)					(20,006		)
Accumulated deficit	(42,719)							(42,719)

Total equity	808,496			51,538				860,034
Total liabilities and equity	$	1,515,156		$	—			$	1,515,156

Pro Forma Balance Sheet Adjustments

Unaudited pro forma condensed statement of operations

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR SIX MONTHS ENDED JUNE 30, 2018
(in thousands, except per share amounts)



	Berry Corp. (Successor) Six Months Ended June 30, 2018			Issuance of 2026 Notes			Series A Preferred Stock Conversion and Common Stock Offering			Berry Corp. (Successor) Pro Forma
Revenues and other:
Oil, natural gas and NGL sales	$	263,010								$	263,010
Electricity sales	11,423									11,423
Gains (losses) on oil and natural gas derivatives	(112,787		)							(112,787		)
Marketing revenues	1,302									1,302
Other revenues	317									317
	163,265			—			—			163,265
Expenses and other:
Lease operating expenses	85,819									85,819
Electricity generation expenses	7,725									7,725
Transportation expenses	5,321									5,321
Marketing expenses	987									987
General and administrative expenses	24,466									24,466
Depreciation, depletion and amortization	40,288									40,288
Taxes, other than income taxes	16,972									16,972
Gains on sale of assets and other, net	123									123
	181,701			—			—			181,701
Other income and (expenses):
Interest expense, net of amounts capitalized	(16,951		)	(854		)			(c)	(17,805		)
Other, net	(212		)							(212		)
	(17,163		)	(854		)	—		(c)	(18,017		)
Reorganization items, net	9,411									9,411
(Loss) income before income taxes	(26,188		)	(854		)	—		(c)	(27,042		)
Income tax expense (benefit)	(4,537		)	(147		)			(c)	(4,684		)
Net income (loss)	(21,651		)	(707		)	—			(22,358		)
Dividends on Series A Preferred Stock	(11,301		)				11,301		(f)	—
Net income (loss) available to common stockholders	$	(32,952	)	$	(707	)	$	11,301		$	(22,358	)
Net income (loss) per share of common stock:
Basic	$	(0.82	)							$	(0.26	)
Diluted	$	(0.82	)							$	(0.26	)
Weighted average common shares outstanding
Basic (g)	40,051						46,333		(d) (e)	86,384
Diluted (g)	40,051						46,333		(d) (e)	86,384

Pro Forma Statement of Operations Adjustments

Issuance of 2026 Notes Adjustments



(in thousands)
Reversal of interest expense, unused fee and LOC fee on the RBL Facility	$	(3,251	)
Reversal of 2026 Notes interest expense	(10,970		)
Pro Forma- RBL Facility letter of credit fee ($7.1 million outstanding at 2.625%)	93
Pro Forma-RBL Facility unused availability fee ($393 million availability at 0.5%)	982
Pro Forma 2026 Notes interest expense.	14,000
Pro Forma adjustment to increase interest expense	$	854

The effective tax rate applied to the increased interest expense was 17.3% for the six months ended June 30, 2018.

Series A Preferred Stock Conversion and Common Stock Offering Adjustments

(e) Reflects the conversion of the outstanding shares of Series A Preferred Stock into approximately 37.7 million shares of common stock, assumed to occur on January 1, 2017.

(f) Reflects the effect of reversing the Series A Preferred Stock dividends, assuming the IPO and the Series A Preferred Stock Conversion occurred January 1, 2017.

(g) Share count includes 7 million shares reserved for issuance to the general unsecured creditors resulting from the bankruptcy process.

Emergence from Voluntary Reorganization under Chapter 11 - Narrative (Details) - USD ($)	3 Months Ended		4 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	Feb. 28, 2017
Plan of Reorganization [Line Items]
Shares issued under plan (in shares)						32,920,000
Bankruptcy claims, common shares available to unsecured creditors (in shares)	7,080,000			7,080,000		7,080,000
Cash distribution pool						$ 35,000,000
Right to purchase Series A Preferred Stock						335,000,000
Unsecured claim receivable and fully reserved						$ 25,000,000
Liabilities subject to compromise	$ 19,710,000			$ 19,710,000	$ 34,833,000
Return of undistributed funds from Cash Distribution Pool	$ 0	$ 0	$ 0	9,000,000
Settlement payments to general unsecured creditors				$ 6,000,000
Senior Notes due 2020
Plan of Reorganization [Line Items]
Interest rate						6.75%
Senior Notes due 2022
Plan of Reorganization [Line Items]
Interest rate						6.375%
Emergence credit facility
Plan of Reorganization [Line Items]
Borrowing base						$ 550,000,000

Emergence from Voluntary Reorganization under Chapter 11 - Reorganization Items (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Aug. 23, 2018	Feb. 28, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018
Reorganization Items [Line Items]
Return of undistributed funds from Cash Distribution Pool			$ 0	$ 0	$ 0	$ 9,000
Refund of pre-emergence prepaid costs			0	0	0	579
Gain on settlement of liabilities subject to compromise			0	0	0	0
Fresh start valuation adjustments			0	0	0	0
Legal and other professional advisory fees			(1,178)	713	112	(1,802)
Gain on resolution of pre-emergence liabilities			1,634	0	0	1,634
Other			0	0	(705)	0
Reorganization items, net			$ 456	$ 713	$ (593)	$ 9,411
Subsequent Event
Reorganization Items [Line Items]
Return of undistributed funds from Cash Distribution Pool	$ 14,000
Predecessor
Reorganization Items [Line Items]
Return of undistributed funds from Cash Distribution Pool		$ 0
Refund of pre-emergence prepaid costs		0
Gain on settlement of liabilities subject to compromise		421,774
Fresh start valuation adjustments		(920,699)
Legal and other professional advisory fees		(19,481)
Gain on resolution of pre-emergence liabilities		0
Other		10,686
Reorganization items, net		$ (507,720)

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Feb. 28, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-Term Debt- Principal Amount	$ 466,000		$ 379,000
Less: Debt Issuance Costs	(8,667)		0
Long-Term Debt, net	457,333		379,000
Line of credit \| RBL Facility
Debt Instrument [Line Items]
Long-Term Debt- Principal Amount	$ 66,000		$ 379,000
Interest rate - variable rates	4.50%		4.80%
Security	85.00%
Medium-term notes \| 2026 Notes
Debt Instrument [Line Items]
Long-Term Debt- Principal Amount	$ 400,000		$ 0
Interest Rate	7.00%	7.00%

Debt - Narrative (Details)	1 Months Ended	2 Months Ended	4 Months Ended	6 Months Ended
Debt - Narrative (Details)	Feb. 28, 2018 USD ($)	Aug. 23, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($)	Aug. 20, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jul. 31, 2017 USD ($)	Feb. 28, 2017 USD ($)
Debt Instrument [Line Items]
Payment on credit facility			$ 51,000,000	$ 409,800,000
Cash and cash equivalents			$ 3,735,000	3,600,000			$ 33,905,000		$ 32,049,000
Subsequent Event
Debt Instrument [Line Items]
Cash and cash equivalents					$ 36,000,000
RBL Facility
Debt Instrument [Line Items]
Credit facility, issuance costs, net of amortization				18,000,000			21,000,000
Medium-term notes \| 2026 Notes
Debt Instrument [Line Items]
Fair value of debt				$ 408,000,000
Principal amount of debt issued	$ 400,000,000
Interest rate	7.00%			7.00%
Net proceeds from debt issuance	$ 391,000,000
Line of credit \| RBL Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 1,500,000,000.0
Borrowing base	400,000,000					$ 400,000,000
Reduction in borrowing base for other debt	$ 100,000,000
Percentage of face value of other debt to reduce borrowing base	25.00%
Elected commitment feature to increase borrowing base						$ 575,000,000
Debt covenant, leverage ratio, maximum				4.00
Debt covenant, current ratio, minimum				1.00
Leverage ratio at period end				2.63
Current ratio at period end				3.18
Available borrowing capacity				$ 327,000,000
Letters of credit outstanding				$ 7,000,000			$ 21,000,000
Line of credit \| RBL Facility \| Subsequent Event
Debt Instrument [Line Items]
Available borrowing capacity					$ 388,000,000
Payment on credit facility		$ 105,000,000

Derivatives - Narrative (Details) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
Derivatives - Narrative (Details) $ in Millions	May 31, 2018 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2020 $ / bbl MBbls	Dec. 31, 2019 $ / bbl MBbls	Dec. 31, 2018 $ / bbl MBbls
Derivative [Line Items]
Period of target exposure coverage		2 years
Purchased put options premium \| $		$ 17.9
Derivative termination deferred costs \| $	$ 127.0
Brent oil swaps from July 2018 through March 2019 \| Scenario, Forecast
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls				900	1,800
Weighted average price ($/Bbl) \| $ / bbl				75.66	75.66
Brent oil purchased put options for January 2019 through March 2020 \| Scenario, Forecast
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls			500	2,800
Weighted average floor price ($/Bbls) \| $ / bbl			65.00	65.00

Derivatives - Contract Transactions (Details) - Scenario, Forecast	3 Months Ended		12 Months Ended
	Dec. 31, 2018 $ / bbl MBbls	Sep. 30, 2018 $ / bbl MBbls	Dec. 31, 2020 $ / bbl MBbls	Dec. 31, 2019 $ / bbl MBbls
Sold Oil Calls (ICE Brent)
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls	0	186	0	0
Weighted average price ($/Bbl) \| $ / bbl	0.00	81.67	0.00	0.00
Purchased Put Options (ICE Brent)
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls	0	0	455	2,835
Weighted average price ($/Bbl) \| $ / bbl	0.00	0.00	65.00	65.00
Fixed Price Swaps (ICE Brent)
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls	966	966	0	900
Weighted average price ($/Bbl) \| $ / bbl	75.13	75.13	0.00	75.66
ICE Brent-NYMEX WTI basis swaps
Derivative [Line Items]
Hedged volume (MBbls) \| MBbls	92	92	0	182.5
Weighted average price ($/Bbl) \| $ / bbl	1.29	1.29	0.00	1.29

Derivatives - Fair Value in Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Gross Amounts Recognized at Fair Value	$ (15,010)	$ (75,281)
Gross Amounts Offset in the Balance Sheet	0	0
Net Fair Value Presented in the Balance Sheet	(15,010)	(75,281)
Commodity Contracts \| Current liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts Recognized at Fair Value	(11,447)	(49,949)
Gross Amounts Offset in the Balance Sheet	0	0
Net Fair Value Presented in the Balance Sheet	(11,447)	(49,949)
Commodity Contracts \| Non-current liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts Recognized at Fair Value	(3,563)	(25,332)
Gross Amounts Offset in the Balance Sheet	0	0
Net Fair Value Presented in the Balance Sheet	$ (3,563)	$ (25,332)

Lawsuits, Claims, Commitments and Contingencies - Narrative (Details) $ in Millions	Jun. 30, 2018 USD ($)
Unrecorded Unconditional Purchase Obligation [Line Items]
Commitments under contracts	$ 13
Agreement to purchase natural gas	7
New Road Access
Unrecorded Unconditional Purchase Obligation [Line Items]
Commitments under contracts	$ 9
Commitments under contracts, percentage of variable component	50.00%
Commitment based on variable components	$ 12

Lawsuits, Claims, Commitments and Contingencies - Operating Lease Payments (Details) $ in Thousands	Jun. 30, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2018	$ 676
2019	1,170
2020	157
2021	159
2022	160
Thereafter	36
Total minimum lease payments	$ 2,358

Equity - IPO (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		2 Months Ended		4 Months Ended	6 Months Ended
	Jul. 31, 2018	Jun. 30, 2018	Aug. 23, 2018	Apr. 30, 2018	Jun. 30, 2017	Jun. 30, 2018
Subsidiary, Sale of Stock [Line Items]
Purchase of common stock				$ 20,000	$ 0	$ 20,006
Payment on credit facility					$ 51,000	$ 409,800
Preferred dividend paid (in dollars per share)		$ 0.15
Subsequent Event \| Conversion of Series A to Common Shares
Subsidiary, Sale of Stock [Line Items]
Number of shares converted (in shares)	37,700,000
Common shares issued on conversion (in shares)	39,600,000
Right to receive cash payment per share (in dollars per share)	$ 1.75
Right to receive cash payment less paid dividends per share (in dollars per share)	$ 1.60
Cash payment for conversion of preferred shares	$ 60,000
Subsequent Event \| Common stock \| Conversion of Series A to Common Shares
Subsidiary, Sale of Stock [Line Items]
Number of shares converted per each share of preferred stock (in shares)	1.05
Subsequent Event \| RBL Facility \| Line of credit
Subsidiary, Sale of Stock [Line Items]
Payment on credit facility			$ 105,000
Subsequent Event \| IPO - shares from company
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	10,497,849
Subsequent Event \| IPO - shares from existing shareholders
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	2,545,630
Subsequent Event \| Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, price per share (in dollars per share)	$ 14.00
Common shares purchased (in shares)	1,802,196
Increase in common stock outstanding (in shares)	8,695,653
Sale of stock, consideration received	$ 136,000
Purchase of common stock	24,000
Consideration received after purchase of common stock	112,000
Payment in connection with conversion of preferred stock to common stock	$ 60,000
Subsequent Event \| Over-allotment option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, underwriter option to purchase additional shares (in shares)	1,534,895
Subsequent Event \| Over allotment option - shares from existing shareholders
Subsidiary, Sale of Stock [Line Items]
Sale of stock, underwriter option to purchase additional shares (in shares)	421,626

Equity - Shares Issued and Outstanding (Details) $ / shares in Units, $ in Millions			1 Months Ended
	Aug. 21, 2018 $ / shares	Jun. 30, 2018 shares	Sep. 30, 2018 $ / shares	Jul. 31, 2018 shares	May 31, 2018 USD ($) $ / shares	Mar. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 shares	Feb. 28, 2017 shares
Class of Stock [Line Items]
Common stock, shares issued (in shares)		33,087,889					32,920,000
Common shares vested (in shares)		167,889
Bankruptcy claims, common shares available to unsecured creditors (in shares)		7,080,000						7,080,000
Cumulative preferred share dividend per share (in shares)						0.050907
Preferred share dividend (in shares)						1,825,000
Preferred cash dividend (in dollars per share) \| $ / shares					$ 0.15	$ 0.158
Preferred cash dividend \| $					$ 5.6	$ 5.6
Subsequent Event
Class of Stock [Line Items]
Common stock, shares issued (in shares)				81,336,762
Common shares outstanding (in shares)				81,336,762
Unvested restricted stock units and performance restricted stock units outstanding (in shares)				1,447,998
Preferred shares outstanding (in shares)				0
Common stock, dividends declared (in dollars per share) \| $ / shares	$ 0.12
Subsequent Event \| Conversion of Series A to Common Shares
Class of Stock [Line Items]
Number of shares converted (in shares)				37,700,000
Common shares issued on conversion (in shares)				39,600,000
Subsequent Event \| Scenario, Forecast
Class of Stock [Line Items]
Common stock, dividends paid (in dollars per share) \| $ / shares			$ 0.09

Equity - Purchase of Common Stock (Details)	1 Months Ended
Equity - Purchase of Common Stock (Details)	Jul. 31, 2018 shares
Initial Public Offering \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Common shares purchased (in shares)	1,802,196

Equity - Treasury Stock (Details) - USD ($) $ in Thousands	2 Months Ended	4 Months Ended	6 Months Ended
Equity - Treasury Stock (Details) - USD ($) $ in Thousands	Apr. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Feb. 28, 2017
Equity [Abstract]
Purchase of common stock	$ 20,000	$ 0	$ 20,006
Bankruptcy claims, common shares available to unsecured creditors (in shares)			7,080,000	7,080,000

Equity - Stock-Based Compensation (Details) - USD ($)	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
Equity - Stock-Based Compensation (Details) - USD ($)	Feb. 28, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 27, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense			$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Unrecognized compensation costs		$ 6,800,000		$ 6,800,000
Unrecognized compensation cost, weighted average period of recognition				2 years
Performance-based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs		3,800,000		$ 3,800,000
Unrecognized compensation cost, weighted average period of recognition				2 years
Lease operating expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense		44,000		$ 67,000
General and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense		$ 1,300,000		$ 2,300,000
Restated Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares reserved for future issuance (in shares)					10,000,000
Shares remaining to be issued (in shares)		8,300,000		8,300,000
Predecessor
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 0

Equity - RSUs and PRSUs Activity (Details) - $ / shares		6 Months Ended
Equity - RSUs and PRSUs Activity (Details) - $ / shares	Jun. 30, 2018	Jun. 30, 2018
Number of shares
Vested (in shares)	(167,889)
Restricted Stock Units (RSUs)
Number of shares
Outstanding, beginning of period (in shares)		683,000
Granted (in shares)		205,000
Vested (in shares)		(166,000)
Forfeited (in shares)		(26,000)
Outstanding, end of period (in shares)	696,000	696,000
Weighted average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)		$ 10.12
Granted (in dollars per share)		11.50
Vested (in dollars per share)		11.68
Forfeited (in dollars per share)		10.12
Outstanding, end of period (in dollars per share)	$ 10.20	$ 10.20
Performance-based Restricted Stock Units (PRSUs)
Number of shares
Outstanding, beginning of period (in shares)		622,000
Granted (in shares)		132,000
Vested (in shares)		0
Forfeited (in shares)		(2,000)
Outstanding, end of period (in shares)	752,000	752,000
Weighted average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)		$ 7.09
Granted (in dollars per share)		7.49
Vested (in dollars per share)		0.00
Forfeited (in dollars per share)		7.09
Outstanding, end of period (in dollars per share)	$ 7.11	$ 7.11

Income taxes (Details)	3 Months Ended	6 Months Ended
Income taxes (Details)	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	16.00%	17.30%	40.00%

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows - Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 6,692	$ 6,901
Oil inventories, materials and supplies	7,062	5,938
Other	1,227	1,227
Other current assets	$ 14,981	$ 14,066

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred financing costs, non-current, net of amortization	$ 18	$ 20

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows - Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable-trade	$ 10,698	$ 15,469
Accrued expenses	57,531	34,359
Royalties payable	18,811	25,793
Greenhouse gas liability	5,732	10,446
Taxes other than income tax liability	9,428	8,437
Accrued interest	10,970	0
Other	0	3,373
Accounts payable and accrued expenses	$ 113,170	$ 97,877

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	2 Months Ended	4 Months Ended	6 Months Ended
	Feb. 28, 2017	Jun. 30, 2017	Jun. 30, 2018
Supplemental Disclosures of Significant Non-Cash Investing Activities:
(Decrease) increase in accrued liabilities related to purchases of property and equipment		$ 1,172	$ 8,614
Supplemental Disclosures of Cash Payments/(Receipts):
Interest		5,261	3,298
Income taxes		1,168	0
Reorganization items, net		$ (792)	$ 1,352
Predecessor
Supplemental Disclosures of Significant Non-Cash Investing Activities:
(Decrease) increase in accrued liabilities related to purchases of property and equipment	$ 2,249
Supplemental Disclosures of Cash Payments/(Receipts):
Interest	8,057
Income taxes	0
Reorganization items, net	$ 11,838

Supplemental Disclosures to the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Feb. 28, 2017	Dec. 31, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents	$ 3,600	$ 33,905	$ 3,735	$ 32,049
Restricted cash	19,710	34,833	38,908	52,860
Restricted cash in other noncurrent assets	0	0	0	125
Cash, cash equivalents and restricted cash	$ 23,310	$ 68,738	$ 42,643	85,034
Predecessor
Condensed Cash Flow Statements, Captions [Line Items]
Cash and cash equivalents				32,049	$ 30,483
Restricted cash				52,860	197,793
Restricted cash in other noncurrent assets				125	128
Cash, cash equivalents and restricted cash				$ 85,034	$ 228,404

Certain Relationships and Related Party Transactions (Details) - LINN Energy - Transition Services and Separation Agreement - USD ($) $ in Millions	2 Months Ended		4 Months Ended
	Jun. 30, 2017	Apr. 30, 2017	Jun. 30, 2017
Related Party Transaction [Line Items]
Related party transaction, monthly amount	$ 2.7	$ 6.0
Related party transaction, amount of transaction			$ 17.0

Acquisitions and Divestitures (Details) - Chevron North Midway-Sunset Acquisition	1 Months Ended
	Apr. 30, 2018 USD ($) a lease well $ / bbl
Business Acquisition [Line Items]
Number of leases acquired \| lease	2
Area of land acquired in lease (in acres) \| a	214
Area of land with option to acquire from lease (in acres) \| a	490
Drilling commitment liability assumed \| $	$ 34,500,000
Term of drilling commitment liability assumed	5 years
Number of wells committed to drilling under lease option \| well	40
Consideration transferred in acquisition \| $	$ 0
Oil and gas delivery commitments, consecutive period for which price not met which will incur a toll	30 days
Oil and gas delivery commitments, fixed price to be met, less than (in dollars per barrel) \| $ / bbl	45

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		4 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018
Earnings Per Share [Abstract]
Weighted-average common shares outstanding-basic	40,090,000	40,000,000	40,000,000	40,051,000
Shares of common stock distributable to holders of Unsecured Claims (in shares)	7,080,000	7,080,000	7,080,000	7,080,000
Net (loss) income	$ (28,061)	$ 12,120	$ 23,497	$ (21,651)
Dividends on Series A Preferred Stock	(5,650)	(5,404)	(7,196)	(11,301)
Net income (loss) attributable to common stockholders	$ (33,711)	$ 6,716	$ 16,301	$ (32,952)
Weighted-average shares of common stock outstanding	33,010,000	32,920,000	32,920,000	32,971,000
Shares of common stock distributable to holders of Unsecured Claims (in shares)	7,080,000	7,080,000	7,080,000	7,080,000
Weighted-average common shares outstanding-basic	40,090,000	40,000,000	40,000,000	40,051,000
Basic Earnings (loss) per share (in dollars per share)	$ (0.84)	$ 0.17	$ 0.41	$ (0.82)
Dilutive effect of potentially dilutive securities (in shares)	0	35,845,000	35,845,000	0
Weighted-average common shares outstanding-diluted	40,090,000	75,845,000	75,845,000	40,051,000
Diluted Earnings (loss) per share (in dollars per share)	$ (0.84)	$ 0.16	$ 0.31	$ (0.82)

Pro Forma Financial Data - 2026 Notes (Details) - 2026 Notes - Medium-term notes - USD ($)	1 Months Ended
	Feb. 28, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Principal amount of debt issued	$ 400,000,000
Interest rate	7.00%	7.00%
Net proceeds from debt issuance	$ 391,000,000

Pro Forma Financial Data - Preferred Stock Conversion and Common Stock Offering (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended		4 Months Ended	6 Months Ended
	Jul. 31, 2018	Aug. 23, 2018	Apr. 30, 2018	Jun. 30, 2017	Jun. 30, 2018
Subsidiary, Sale of Stock [Line Items]
Purchase of common stock			$ 20,000	$ 0	$ 20,006
Payment on credit facility				$ 51,000	$ 409,800
Subsequent Event \| RBL Facility \| Line of credit
Subsidiary, Sale of Stock [Line Items]
Payment on credit facility		$ 105,000
Subsequent Event \| Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received	$ 136,000
Purchase of common stock	24,000
Consideration received after purchase of common stock	$ 112,000
Conversion of Series A to Common Shares \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Right to receive cash payment per share (in dollars per share)	$ 1.75
Conversion of Series A to Common Shares \| Subsequent Event \| Common stock
Subsidiary, Sale of Stock [Line Items]
Number of shares converted per each share of preferred stock (in shares)	1.05

Pro Forma Financial Data - Unaudited Pro Forma Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Feb. 28, 2017
Current assets:
Cash and cash equivalents	$ 3,600	$ 33,905	$ 3,735	$ 32,049
Accounts receivable, net	56,860	54,720
Restricted cash	19,710	34,833	$ 38,908	$ 52,860
Other current assets	14,981	14,066
Total current assets	95,151	137,524
Noncurrent assets:
Oil and natural gas properties (successful efforts method)	1,382,777	1,342,453
Accumulated depletion and amortization	(88,548)	(54,785)
Oil and natural gas properties, net	1,294,229	1,287,668
Other property and equipment	112,618	104,879
Less accumulated depreciation	(8,928)	(5,356)
Other property and equipment, net	103,690	99,523
Other noncurrent assets	22,086	21,687
Total assets	1,515,156	1,546,402
Current liabilities:
Accounts payable and accrued expenses	113,170	97,877
Derivative instruments	11,447	49,949
Liabilities subject to compromise	19,710	34,833
Total current liabilities	144,327	182,659
Noncurrent liabilities:
Long-term debt	457,333	379,000
Derivative instruments	3,563	25,332
Asset retirement obligation	88,575	94,509
Other noncurrent liabilities	12,862	3,704
Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	335,000	335,000
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	33	33
Additional paid-in-capital	536,188	545,345
Treasury stock, at cost	(20,006)	0
Accumulated deficit	(42,719)	(21,068)
Total equity	808,496	859,310
Total liabilities and equity	1,515,156	$ 1,546,402
Series A Preferred Stock Conversion and Common Stock Offering \| Initial Public Offering
Current assets:
Cash and cash equivalents	0
Total current assets	0
Noncurrent assets:
Total assets	0
Current liabilities:
Accounts payable and accrued expenses	0
Total current liabilities	0
Noncurrent liabilities:
Long-term debt	(51,538)
Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	(335,000)
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	48
Additional paid-in-capital	386,490
Total equity	51,538
Total liabilities and equity	0
Berry Corp. (Successor) Pro Forma
Current assets:
Cash and cash equivalents	3,600
Accounts receivable, net	56,860
Restricted cash	19,710
Other current assets	14,981
Total current assets	95,151
Noncurrent assets:
Oil and natural gas properties (successful efforts method)	1,382,777
Accumulated depletion and amortization	(88,548)
Oil and natural gas properties, net	1,294,229
Other property and equipment	112,618
Less accumulated depreciation	(8,928)
Other property and equipment, net	103,690
Other noncurrent assets	22,086
Total assets	1,515,156
Current liabilities:
Accounts payable and accrued expenses	113,170
Derivative instruments	11,447
Liabilities subject to compromise	19,710
Total current liabilities	144,327
Noncurrent liabilities:
Long-term debt	405,795
Derivative instruments	3,563
Asset retirement obligation	88,575
Other noncurrent liabilities	12,862
Equity:
Successor Series A Preferred Stock ($.001 par value, 250,000,000 shares authorized and 37,669,805 shares issued at June 30, 2018)	0
Successor common stock ($.001 par value, 750,000,000 shares authorized and 33,087,889 shares issued at June 30, 2018)	81
Additional paid-in-capital	922,678
Treasury stock, at cost	(20,006)
Accumulated deficit	(42,719)
Total equity	860,034
Total liabilities and equity	$ 1,515,156

Pro Forma Financial Data - Unaudited Pro Forma Condensed Consolidated Balance Sheet (Share Information) (Details) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Successor Series A convertible preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Successor Series A convertible preferred stock, shares authorized (in shares)	250,000,000	250,000,000
Successor Series A convertible preferred stock, shares issued (in shares)	37,669,805	35,845,001
Successor common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Successor common stock, shares authorized (in shares)	750,000,000	750,000,000
Successor common stock, shares issued (in shares)	33,087,889	32,920,000

Pro Forma Financial Data - Unaudited Pro Forma Condensed Statement of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		4 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2018
Revenues and other:
(Losses) gains on oil and natural gas derivatives	$ (78,143)	$ 23,962	$ 48,085	$ (112,787)
Total revenues and other	65,982	134,722	194,377	163,265
Expenses and other:
Transportation expenses	2,343	9,404	13,059	5,321
Marketing expenses	407	730	1,000	987
General and administrative expenses	12,482	22,257	31,800	24,466
Depreciation, depletion, amortization and accretion	21,859	20,549	27,571	40,288
Taxes, other than income taxes	8,715	10,249	13,330	16,972
Gains on sale of assets and other, net	123	5	5	123
Total expenses and other	90,581	113,385	151,168	181,701
Other income and (expenses):
Interest expense, net of amounts capitalized	(9,155)	(4,885)	(6,600)	(16,951)
Other, net	(239)	2,916	2,916	(212)
Total other income and (expenses)	(9,394)	(1,969)	(3,684)	(17,163)
Reorganization items, net	456	713	(593)	9,411
Income (loss) before income taxes	(33,537)	20,081	38,932	(26,188)
Income tax expense (benefit)	(5,476)	7,961	15,435	(4,537)
Net income (loss)	(28,061)	12,120	23,497	(21,651)
Dividends on Series A Preferred Stock	(5,650)	(5,404)	(7,196)	(11,301)
Net income (loss) attributable to common stockholders	$ (33,711)	$ 6,716	$ 16,301	$ (32,952)
Net income (loss) per share of common stock:
Basic (in dollars per share)	$ (0.84)	$ 0.17	$ 0.41	$ (0.82)
Diluted (in dollars per share)	$ (0.84)	$ 0.16	$ 0.31	$ (0.82)
Weighted average common shares outstanding
Basic (in shares)	40,090	40,000	40,000	40,051
Diluted (in shares)	40,090	75,845	75,845	40,051
Oil, natural gas and NGL sales
Revenues and other:
Revenues	$ 137,385	$ 101,884	$ 135,562	$ 263,010
Expenses and other:
Cost of goods sold	41,517	45,726	58,790	85,819
Electricity sales
Revenues and other:
Revenues	5,971	5,712	6,603	11,423
Expenses and other:
Cost of goods sold	3,135	4,465	5,613	7,725
Marketing revenues
Revenues and other:
Revenues	518	809	1,090	1,302
Other revenues
Revenues and other:
Revenues	$ 251	$ 2,355	$ 3,037	317
Issuance of 2026 Notes and Series A Preferred Stock Conversion and Common Stock Offering \| Initial Public Offering
Revenues and other:
Total revenues and other				0
Expenses and other:
Total expenses and other				0
Other income and (expenses):
Total other income and (expenses)				0
Income (loss) before income taxes				0
Net income (loss)				0
Dividends on Series A Preferred Stock				11,301
Net income (loss) attributable to common stockholders				$ 11,301
Weighted average common shares outstanding
Basic (in shares)				46,333
Diluted (in shares)				46,333
Issuance of 2026 Notes and Series A Preferred Stock Conversion and Common Stock Offering \| Medium-term notes \| 2026 Notes
Revenues and other:
Total revenues and other				$ 0
Expenses and other:
Total expenses and other				0
Other income and (expenses):
Interest expense, net of amounts capitalized				(854)
Total other income and (expenses)				(854)
Income (loss) before income taxes				(854)
Income tax expense (benefit)				(147)
Net income (loss)				(707)
Net income (loss) attributable to common stockholders				(707)
Berry Corp. (Successor) Pro Forma
Revenues and other:
(Losses) gains on oil and natural gas derivatives				(112,787)
Total revenues and other				163,265
Expenses and other:
Transportation expenses				5,321
Marketing expenses				987
General and administrative expenses				24,466
Depreciation, depletion, amortization and accretion				40,288
Taxes, other than income taxes				16,972
Gains on sale of assets and other, net				123
Total expenses and other				181,701
Other income and (expenses):
Interest expense, net of amounts capitalized				(17,805)
Other, net				(212)
Total other income and (expenses)				(18,017)
Reorganization items, net				9,411
Income (loss) before income taxes				(27,042)
Income tax expense (benefit)				(4,684)
Net income (loss)				(22,358)
Dividends on Series A Preferred Stock				0
Net income (loss) attributable to common stockholders				$ (22,358)
Net income (loss) per share of common stock:
Basic (in dollars per share)				$ (0.26)
Diluted (in dollars per share)				$ (0.26)
Weighted average common shares outstanding
Basic (in shares)				86,384
Diluted (in shares)				86,384
Berry Corp. (Successor) Pro Forma \| Oil, natural gas and NGL sales
Revenues and other:
Revenues				$ 263,010
Expenses and other:
Cost of goods sold				85,819
Berry Corp. (Successor) Pro Forma \| Electricity sales
Revenues and other:
Revenues				11,423
Expenses and other:
Cost of goods sold				7,725
Berry Corp. (Successor) Pro Forma \| Marketing revenues
Revenues and other:
Revenues				1,302
Berry Corp. (Successor) Pro Forma \| Other revenues
Revenues and other:
Revenues				$ 317

Pro Forma Financial Data - Pro Forma Balance Sheet Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended	4 Months Ended	6 Months Ended
	Jul. 31, 2018	Apr. 30, 2018	Jun. 30, 2017	Jun. 30, 2018
Subsidiary, Sale of Stock [Line Items]
Purchase of common stock		$ 20,000	$ 0	$ 20,006
Initial Public Offering \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Increase in common stock outstanding (in shares)	8,695,653
Consideration received after purchase of common stock	$ 112,000
Common shares purchased (in shares)	1,802,196
Purchase of common stock	$ 24,000
Conversion of Series A to Common Shares \| Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Common shares issued on conversion (in shares)	39,600,000
Right to receive cash payment less paid dividends per share (in dollars per share)	$ 1.60
Cash payment for conversion of preferred shares	$ 60,000

Pro Forma Financial Data - Pro Forma Statement of Operations Adjustments (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	6 Months Ended
	Jul. 31, 2018	Feb. 28, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Feb. 28, 2017
Debt Instrument [Line Items]
Effective tax rate			16.00%	17.30%	40.00%
Bankruptcy claims, common shares available to unsecured creditors (in shares)			7,080,000	7,080,000			7,080,000
Subsequent Event \| Conversion of Series A to Common Shares
Debt Instrument [Line Items]
Common shares issued on conversion (in shares)	39,600,000
Subsequent Event \| Initial Public Offering
Debt Instrument [Line Items]
Increase in common stock outstanding (in shares)	8,695,653
Pro Forma \| Conversion of Series A to Common Shares
Debt Instrument [Line Items]
Common shares issued on conversion (in shares)				37,700,000
Pro Forma \| Initial Public Offering
Debt Instrument [Line Items]
Increase in common stock outstanding (in shares)				8,695,653
RBL Facility \| Line of credit
Debt Instrument [Line Items]
Letters of credit outstanding			$ 7,000	$ 7,000		$ 21,000
RBL Facility \| Line of credit \| Issuance of 2026 Notes Adjustments
Debt Instrument [Line Items]
Reversal of interest expense, unused fee and LOC fee on the RBL Facility				(3,251)
RBL Facility \| Line of credit \| Pro Forma
Debt Instrument [Line Items]
Fee amount				982
Line of credit availability			393,000	$ 393,000
Unused availability fee				0.50%
RBL Facility \| Letter of credit \| Pro Forma
Debt Instrument [Line Items]
Fee amount				$ 93
Letters of credit outstanding			$ 7,100	$ 7,100
Letter of credit fee				2.625%
Medium-term notes \| 2026 Notes
Debt Instrument [Line Items]
Net proceeds from debt issuance		$ 391,000
Medium-term notes \| 2026 Notes \| Issuance of 2026 Notes Adjustments
Debt Instrument [Line Items]
Reversal of 2026 Notes interest expense				$ (10,970)
Medium-term notes \| 2026 Notes \| Pro Forma
Debt Instrument [Line Items]
Interest expense				14,000
Pro Forma adjustment to increase interest expense				$ 854