Berry Corporation sees 2023 results in line with previous guidance

The company said, “We currently anticipate that our full-year results will be in line with previous guidance, before consideration of the Macpherson transaction, except with respect to capital expenditures. We expect 2023 capital expenditures for both Berry and C&J Well Services to be approximately $35 million lower than the $103 million to $113 million initial guidance as a result of the reallocation of capital to fund a portion of the Macpherson purchase price. We will fully update guidance in connection with the transaction close, expected late in the third quarter 2023.”