Berry Corporation announced its financial and operational results for the second quarter of 2025 on August 6, 2025. The company reported a 5% year-over-year increase in total revenues and other to $210.08 million, primarily driven by gains on oil and gas sales derivatives.
Oil, natural gas, and NGL sales decreased by 26% year-over-year to $125.64 million, mainly due to lower oil prices and volumes. The company paid down approximately $11 million of debt during the quarter, bringing the year-to-date reduction to $23 million, and reaffirmed its full-year 2025 guidance for total production volumes.
In Utah, flowback commenced on two of its first operated horizontal wells, with the remaining two expected online within the month, and average well costs were approximately 20% below non-operated wells. Berry also noted encouraging positive developments in California's regulatory environment, potentially opening new drill permitting pathways by year-end.
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