Berry Pays $126M For Wolfberry Trend Assets

Law360, New York (January 11, 2010, 6:23 PM EST) -- Berry Petroleum Co. said Monday that it would pay a private seller about $126 million to acquire interests in certain oil-producing properties located mainly in the Wolfberry trend area of western Texas.

The Denver-based independent energy company said the properties contained proven reserves of about 11.2 million barrels of oil equivalents and that the acquisition would add an estimated 1,300 barrels of oil equivalents per day to its production.

The transaction, which is still subject to customary closing conditions, is expected to be finalized in March....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.