Call Start: 11:00 January 1, 0000 11:18 AM ET

Berry Corporation (NASDAQ:BRY)

Q2 2023 Earnings Conference Call

August 2, 2023 11:00 am ET

Company Participants

Todd Crabtree - Head, IR

Fernando Araujo - CEO

Mike Helm - VP, CFO & CAO

Conference Call Participants

Charles Meade - Johnson Rice

Tim Chatard - Meros Investment Management

Operator

Good day and thank you for joining us. Welcome to the Berry Corporation Q2 2023 Earnings Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Todd Crabtree, Head of Investor Relations. Please go ahead.

Todd Crabtree

Thank you, Gerald, and welcome everyone, and thank you for joining us for Berry's second quarter 2023 earnings teleconference. Earlier today, Berry issued an earnings release highlighting 2023 second quarter results. Speaking this morning will be Fernando Araujo, our Chief Executive Officer; and Mike Helm, our Chief Financial Officer.

Before we begin, I would like to call your attention to the safe harbor language found in our earnings release that was issued this morning. This release and today's discussion contain certain projections and other forward-looking statements within the meaning of federal securities laws.

These statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in these statements. These include risks and other factors outlined in our filings with the SEC, including our 10-Q, which will be filed later today. Our website, bry.com, has a link to the earnings release and our most recent investor presentation.

Any information, including forward-looking statements made on this call are contained in the earnings release and that presentation reflects our analysis as of the date made. We have no plans or duty to update them, except as required by law.

Please refer to the tables in our earnings release and on our website for a reconciliation between all adjusted measures mentioned in today's call and the related GAAP measures. We will also post the replay link of this call and the transcript on our website.

I will now turn the call over to Fernando.

Fernando Araujo

Thanks, Todd. Welcome everyone and thank you for joining us. In the second quarter, we successfully executed on our strategy to maximize shareholder value and generate meaningful returns. Our operational and financial performance was strong and we delivered on all fronts. We are excited about our pending acquisition of Macpherson Energy Corporation, which is on track to close late in the third quarter. This is another step in achieving our important objective of acquiring accretive producing bolt-ons.