Article: Taft, Calif.-Based Berry Petroleum Eyes Los Angeles-Area Oil Field.

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 ...

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