Berry Petroleum to Repurchase Company Shares

Berry Petroleum Company adopted a plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate the repurchase of its shares of common stock. Rule 10b5-1 allows a company to purchase its shares at times when it would not normally be in the market due to possession of nonpublic information, such as the time immediately preceding its quarterly earnings releases. In addition to share repurchases by the Rule 10b5-1 plan, Berry expects to continue opportunistic repurchases in the open market from time to time during its normal trading windows. This 10b5-1 plan is authorized under, and will be administered consistent with, the Company's previously announced $50 million share repurchase program. All repurchases of common stock will be made in compliance with regulations set forth by the Securities and Exchange Commission and will be subject to market conditions, applicable legal requirements and other factors. This program does not obligate the Company to acquire any particular amount of common stock and the plan may be suspended at any time at the Company's discretion.

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