Definitions and Safe Harbor Statement

Call - The option to buy a given commodity future at a given price before a given date.

CIG - Colorado Interstate Gas - A pipeline price index.

Collar - The simultaneous purchase of a cap and the sale of a floor with the aim of maintaining prices within a defined range.

Deferred Premium – A payment of a premium deferred through settlement rate.

HSC - Houston Ship Channel - One of the spot gas markets in Texas and a benchmark for prices across the state of Texas.

MMBtu - Million British thermal units - A heating equivalent measure for natural gas and is an alternate measure of natural gas reserves, as opposed to Mcf, which is strictly a measure of natural gas volumes. Typically, prices quoted for natural gas are designated as price per MMBtu, the same basis on which natural gas is contracted for sale.

NGPL - Natural Gas Pipeline Company of America. “Knight” (formerly known as Kinder Morgan Inc.) is the largest transporter of natural gas into the high-demand Chicago market. The large interstate system has approximately 9,800 miles of pipeline, 239 Bcf of working gas storage and peak day deliverability of 5.8 Bcf per day. 

NYMEX - New York Mercantile Exchange - The world's largest physical commodity futures exchange and the preeminent trading forum for energy.

PEPL - Panhandle Eastern Pipe Line. Panhandle Eastern Pipe Line Company operates a 6,500-mile pipeline system with access to diverse supply sources and can deliver 2.8 Bcf/d of natural gas to Midwest and East Coast markets.

Put - The option to sell a given commodity future at a given price before a given date.

SoCal Border - Southern California Border - a pricing location for natural gas at the entry points into Southern California.

Swap - A forward type of contractual agreement to exchange one type of cash flow or asset for another, according to predetermined rules.

WTI - West Texas Intermediate crude oil - The US benchmark crude oil, approximating 40 degree API gravity.

Safe Harbor Statement

The information on this page is subject to change without prior notice as hedge positions are added and removed.

Safe Harbor under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the information presented on these web pages and in linked pages or associated documents are forward-looking statements that involve risks and uncertainties. Words such as “estimate,” “will,” “intend,” “continue,” “target,” “expect,” “achieve,” “strategy,” “future,” “may,” “goal,” or other comparable words or phrases or the negative of those words, and other words of similar meaning indicate forward-looking statements and important factors which could affect actual results. Forward-looking statements are made based on Management’s current expectations and beliefs concerning future developments and their potential effects upon Berry Petroleum Company. These items are discussed at length in Part I, Item 1A of Berry’s Form 10-K filed with the Securities and Exchange Commission, 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”, and all material changes are updated in Part II, Item 1A each quarter in our Form 10-Q filed with the SEC.

Berry Petroleum Company has made every reasonable effort to provide accurate information on this website. Such information, however, may not be current, complete or correct. Berry Petroleum Company does not make any warranty, either expressed or implied, as to the completeness, timeliness or accuracy of the information contained herein. The information contained in this web site is as of the date of posting. The Company undertakes no duty to maintain or update this information.