- Despite its slow-decline heavy crude wells, Berry faces extreme operational risk in California, a state actively rejecting hydrocarbons, such as the governor's order to halt gas-powered car sales by 2035.
- Additional factors are the drop in demand due to the coronavirus pandemic and the oil supply-demand imbalance hangover from the spring price war between Saudi Arabia and Russia.
- Despite steady-state operations, Berry has eliminated its dividend to conserve cash and has successfully hedged its production.
For further details see:
Why I Sold Berry Corporation Shares