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Article: Taft, Calif.-Based Berry Petroleum Eyes Los Angeles-Area Oil Field.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 23, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Dec. 24 -- Berry Petroleum Co. of Taft announced Wednesday it plans to acquire the 700-acre Placerita oil field in northern Los Angeles County in a $35 million cash transaction with Aera Energy.
The Placerita field, located 70 miles south of Bakersfield, is producing approximately 2,800 net barrels per day of 13-degree gravity crude oil. The acquisition also includes a 42-megawatt cogeneration facility.
Berry, an independent oil and gas production and exploration company, produced about 12,000 barrels per day from the Midway-Sunset Field, Elk Hills and Montalvo, located in Ventura County, during the quarter ...