Berry Petroleum Company (NYSE: BRY) announced today that it has received approval from the California Division of Oil, Gas and Geothermal Resources for the next phase of development of its diatomite asset. The Company expects project approval for the remaining development will be completed during the next six months. A two rig development program will begin on the Southwestern and Belgian leases in early October, 2010 and is expected to continue through receipt of full project approval.
About Berry Petroleum Company
Berry Petroleum Company is a publicly traded independent oil and gas production and exploitation company with operations in California, Colorado, Texas and Utah. The Company uses its website as a channel of distribution of material company information. Financial and other material information regarding the Company is routinely posted on and accessible at http://www.bry.com/index.php?page=investor.
Safe harbor under the “Private Securities Litigation Reform Act of 1995”
Any statements in this news release that are not historical facts are forward-looking statements that involve risks and uncertainties. Words such as “expect,” "would," "will," "target," "goal," and forms of those words and others indicate forward-looking statements. Important factors which could affect actual results are discussed in PART 1, Item 1A. Risk Factors of Berry's 2009 Form 10-K filed with the Securities and Exchange Commission on February 25, 2010 under the heading "Other Factors Affecting the Company's Business and Financial Results" in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations.”