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SCVNews.com | Placerita Oilfield Owner Out of Bankruptcy; No Longer Under LINN | 03-01-2017
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Bakersfield, Calif. –  Berry Petroleum Company LLC successfully emerged from bankruptcy Wednesday following confirmation of its Chapter 11 plan of reorganization by the Honorable Judge David R. Jones of the U.S. Bankruptcy Court for the District of Texas in January.  Financially restructured, Berry emerges as a stable, well capitalized stand-alone company.  Berry was previously a wholly-owned subsidiary of LINN Energy LLC.

NOTE: Berry owns the Placerita oil field, located west of Sierra Highway in Newhall between Placerita Canyon Road and Golden Valley Road.

“Berry’s emergence from bankruptcy would not be possible if not for the support of our dedicated employees, whose hard work and focus contributed greatly to the successful result we have today,” said Berry Chief Executive Officer Trem Smith.  “I would also like to thank our customers, vendors and contractors for their continued loyalty and support, as well as our new owners whose willingness to further invest in Berry demonstrates their confidence and continued optimism in Berry’s future.  Berry is stronger than ever.  We remain committed to our current asset base and focused on growth opportunities in surrounding areas, particularly in California.”

Berry is headquartered in Bakersfield, CA, and the company owns and operates oil and gas properties in California, Colorado, Utah, Kansas and Texas.

 

About Berry Petroleum Company LLC

Berry is an independent privately-held energy company engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily focused in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado, and the Hugoton Field in Kansas.

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