UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 28, 2005 (June 27, 2005)
BERRY PETROLEUM COMPANY
| DELAWARE (State or Other Jurisdiction of Incorporation or Organization) |
1-9735 (Commission File Number) |
77-0079387 (IRS Employer Identification Number) |
| 5201 TRUXTUN AVE., STE. 300, BAKERSFIELD,
CA (Address of Principal Executive Offices) |
93309 (Zip Code) |
Registrant’s telephone number, including area code: (661) 616-3900
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Item 7.01 | Regulation FD Disclosure |
On June 27, 2005 Berry Petroleum Company issued a news release announcing its acquisition of acreage in North Dakota.
The information in this Current Report on Form 8-K and Exhibit 99.1 is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.
| Item 9.01 | Financial Statements and Exhibits |
(c) Exhibits
99.1 Press Release of Berry Petroleum Company dated June 27, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
| BERRY PETROLEUM COMPANY |
||||
| By: |
/s/ Kenneth A. Olson |
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| Kenneth A. Olson | ||||
| Corporate Secretary | ||||
Date: June 28, 2005
Page 2 of 2
News Release - June 27, 2005
Berry Petroleum Company Phone (661) 616-3900
5201 Truxtun Avenue, Suite
300 E-mail:
ir@bry.com
Bakersfield, California
93309-0640 Internet:
www.bry.com
Contacts: Robert F. Heinemann, President and CEO - - Ralph J. Goehring,
Executive Vice President and CFO
BERRY PETROLEUM ACQUIRES ACREAGE IN NORTH DAKOTA
Bakersfield, CA - June 27, 2005 - Berry Petroleum Company (NYSE:BRY) announced
that it acquired interests in approximately 20,000 gross acres in the Williston
Basin of North Dakota; and is in the process of purchasing additional interests
in another 100,000 gross acres in the area. These acquisitions, totaling
approximately $9 million, represent another step in diversifying Berry's asset
base and provide the Company an entry into the emerging Bakken oil play in the
Williston Basin. The acreage covers several contiguous blocks located primarily
on the eastern flank of the Nesson Anticline. Development activity in the Middle
Bakken play is expanding to the area surrounding the Nesson Anticline, the oil
producing heart of North Dakota.
Robert F. Heinemann, president and chief executive officer, stated, "Combined
with our existing interests in nearly 750,000 gross acres in Utah and Colorado,
this lease acquisition represents another growth opportunity in the Rocky
Mountain and Mid-Continent regions for Berry. The early entry into the North
Dakota Bakken play provides an excellent acreage position at reasonable
acquisition costs. Our goal here is to establish a sizable acreage position in
this emerging play and exploit the acreage with an industry partner."
Michael Duginski, senior vice president of corporate development, added, "Bakken
drilling activity is increasing significantly in the North Dakota Williston
Basin, with current successful production in Montana. We are aware that several
companies will commence drilling adjacent to, or near, our acreage block in the
near future. We expect to close on the additional acreage in the third quarter
of this year."
Berry Petroleum Company is a publicly traded independent oil and gas production,
exploration and exploitation company headquartered in Bakersfield, California.
The Company estimates it's proved reserves are 124 million BOE at March 31,
2005.
"Safe harbor under the Private Securities Litigation Reform Act of 1995:" With
the exception of historical information, the matters discussed in this news
release are forward-looking statements that involve risks and uncertainties.
Although the Company believes that its expectations are based on reasonable
assumptions, it can give no assurance that its goals will be achieved. Important
factors that could cause actual results to differ materially from those in the
forward-looking statements herein include, but are not limited to: the timing
and extent of changes in commodity prices for oil, gas and electricity;
exploration, drilling, development and operating risks; a limited marketplace
for electricity sales within California, counterparty risk; acquisition risks;
competition, environmental risks, litigation uncertainties; the availability of
drilling rigs and other support services, pipeline capacity restraints,
legislative and/or judicial decisions and other government or Tribal
regulations.
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