Berry Snapshot
It may be small fruit in the giant petroleum industry, but Berry Petroleum delivers the juice. The company buys properties with heavy crude and other oil reserves for exploitation and sale to refining companies. Berry Petroleum's core properties are in California (Kern, Los Angeles, and Ventura counties), Colorado, Texas, and Utah. In 2010 it reported proved reserves of 271.2 million barrels of oil equivalent. Berry Petroleum owns three gas-fired cogeneration facilities at its California properties. The company squeezes the most from its Californian heavy oil assets by using steam from the plants to reduce oil viscosity. It offsets the cost of these operations by generating (93 MW capacity) and selling power.
