Berry Petroleum Co. (BRY) said on Thursday that it has priced its underwritten public offering of 8 million shares of common stock at $29.25 per share. The company granted the underwriters a 30-day option to buy an additional 1.2 million shares of its common stock to cover over-allotments.
The company estimates that its net proceeds from the sale of common stock, after deducting estimated underwriting discounts and commissions and offering expenses, will be $224 million, assuming the underwriters' over-allotment option is not exercised.
Net proceeds from the offering are expected to be used to fund the planned acquisition of certain properties in the Wolfberry trend of West Texas and for general corporate purposes. Pending the application of the proceeds for such purposes, Berry would use the net proceeds to reduce outstanding borrowings under its senior secured revolving credit facility.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.