DALLAS, Jan. 21, 2025 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY ) (“Berry” or the “Company”) today announced the appointment of Jeff Magids as the Company’s Vice President, Chief Financial Officer Officer, effective January 21, 2025. Mike Helm will continue in his position as Vice President, Chief Accounting Officer. Jeff’s extensive experience, including in finance, capital markets and M&A, enhances the Company’s financial and strategic leadership capabilities and underscores the Company’s focus on delivering long-term sustainable growth and value creation.
“I am excited to welcome Jeff to the team. His experience is well aligned with our strategy and will help guide us forward as we focus on a disciplined approach to deliver sustainable, long-term growth and create shareholder value while deleveraging and optimizing our balance sheet,” said Fernando Araujo, Chief Executive Officer.
“On behalf of the Berry Board of Directors and executive leadership team, I would like to thank Mike for his dedication and continued contributions to our Company that have positioned us for sustained growth and long-term success. Mike is has been instrumental in building and leading our finance and accounting teams and helping navigate the business through significant transitions. We are grateful for Mike’s continued support as we execute our strategy,” concluded Araujo.
Jeff Magids has over 15 years of experience in the oil and gas industry, with a significant background in financial and strategic leadership. Mr. Magids most recently served as Vice President of Finance and Investor Relations at SilverBow Resources, Inc. (now Crescent Energy Company), where he was responsible for finance, investor relations, treasury and risk management functions. Prior to SilverBow, Mr. Magids served as a Senior Associate at Lime Rock Resources. Prior to that, Mr. Magids worked in the energy investment banking group at BMO Capital Markets. Mr. Magids began his career in the valuation advisory practice at Duff & Phelps (now Kroll). Mr. Magids holds a Bachelor of Business Administration in Finance from the University of Texas at Austin and a Master of Business Administration from Rice University.
Mr. Magids said: “I am excited to join Berry and to collaborate with the entire team to build on its history of strong financial results and shareholder returns. With a world-class asset base in California and opportunities of exciting growth in Utah’s emerging Uinta Basin, Berry is well positioned to advance its strategic goals.In addition to these value creation catalysts, I look forward to helping drive the financial strategy of the Company, which is rooted in a disciplined capital deployment that generates free cash flow while driving long-term sustainable value for all Berry stakeholders.