Berry Corporation Expects FY23 Average Daily Production (Boe/day) Of 24,800 - 25,400 Up From Prior Guidance Of 24,000 - 25,200; Expenses From Field Operations ($/Boe) Is Expected To Be $36.00 - $37.00 Compared To $35.00 - $37.00 Expected Earlier
Portfolio Pulse from Benzinga Newsdesk
Berry Corporation has revised its FY23 average daily production guidance upwards from 24,000 - 25,200 Boe/day to 24,800 - 25,400 Boe/day. However, the company also expects an increase in expenses from field operations, from the earlier estimate of $35.00 - $37.00 per Boe to $36.00 - $37.00 per Boe.
September 18, 2023 | 11:31 am
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Berry Corporation has increased its FY23 production guidance, which could indicate a potential increase in revenues. However, the expected increase in field operation expenses could offset this benefit.
The increase in production guidance suggests that Berry Corporation expects to produce and potentially sell more oil in FY23, which could lead to higher revenues. This is generally positive for the stock. However, the company also expects higher field operation expenses, which could eat into the additional revenues and limit the positive impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100