Berry Corp. Acquires Macpherson Energy Corp.

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California-focused oil producer Berry Corp. closed its acquisition of Macpherson Energy Corp., expanding the E&P’s footprint in the Golden State.

Dallas-based Berry Corp.’s acquisition of Macpherson Energy included a $70 million all-cash payment—$50 million of which was paid at closing. Under terms of the agreement, the remaining $20 million cash portion will be paid in July 2024, Berry said.

Macpherson is a privately held E&P in Kern County, California. The company’s oil-producing properties are located near Berry’s assets in Kern County, the company said in regulatory filings.