Berry completed the acquisition of Macpherson Energy for $70m.

Berry, a company primarily engaged in hydrocarbon exploration, completed the acquisition of Macpherson Energy, a privately-held, family-owned and operated energy producer, for $70m. “Macpherson’s high-quality, low decline oil producing properties are a complementary fit with Berry’s existing portfolio and demonstrates Berry’s disciplined approach to consolidation with a focus on value creation and accretion. This transaction is immediately accretive to Berry in both production and cash flows, supports our overall strategic plan to efficiently maintain our California production, and is expected to enhance our cash flows and shareholder returns. We are well-positioned to be a consolidator of value creating opportunities in California and other basins with conventional reservoirs,” Fernando Araujo, Berry CEO.