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Berry Petroleum Co
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Q1 2024 Earnings Call Presentation
| Trem Smith | Page 8 of 11 |
May 18, 2024
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"Q1 2024 Earnings Call Presentation"
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4,000 4,500 5,000 5,500 6,000 6,500 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Thermal Diatomite Asset Continues to Perform Berry has successfully managed the thermal energy (steam chest) within its thermal diatomite reservoirs in California and has increased production ~19% by performing workovers from existing wellbores as an alternative method of developing thermal diatomite reserves as it awaits final resolution by CalGEM. Nov 19, 2019 Governor announces HPSI moratorium Qtrly Average Production Net bbl/d May-July 2019 Chevron surface expressions reported Lawrence Livermore (LL) study started April 15, 2020 LL Technical interviews with operators April 28 and May 18, 2020 Lawrence Livermore report finalized in November 2021. No new permits for high pressure steam injection wells in California Quarterly production 7 +~19% since Q4 2019 1Q 2024 Results