Company Overview - Berry Corporation has an enterprise value of $642 million[11] - The company's Q2 2025 production averaged 239 thousand barrels of oil equivalent per day (MBoe/d), with 92% being oil[11] - Berry's proved PV-10 is valued at $23 billion[11] - The company's LTM adjusted EBITDA is $270 million, and LTM free cash flow is $61 million ($078/share)[11] - The LTM reinvestment rate is 67%, and the leverage ratio as of June 30, 2025, is 151x[11] California Assets - California assets have proved PV-10 of $21 billion[24] - California production is 210 MBoe/d[24] - Berry's California assets have an annual decline rate of 11%-14%[24] - The internal rate of return (IRR) for California assets is greater than 100%[24] Utah Assets - Utah assets production is 44 MBoe/d[47] - Berry Corporation holds approximately 100000 net acres in the Uinta Basin[47] Financials - The company has $95 million of availability through its credit facility and term loan[63] - Since July 2018 IPO, Berry has generated $15 billion in cash flow from operations[63,79]