Berry (NASDAQ: BRY) announced the appointment of Jeff Magids as Vice President and Chief Financial Officer, effective January 21, 2025. Mike Helm will continue as Vice President, Chief Accounting Officer. Magids brings more than 15 years of experience in the oil and gas industry, most recently serving as Vice President of Finance and Investor Relations at SilverBow Resources.
Magids’ background includes positions at Lime Rock Resources, the energy investment banking group of BMO Capital Markets, and Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. The appointment aims to strengthen Berry’s financial and strategic leadership capabilities, focusing on sustainable growth, value creation and budget optimization.
Berry (NASDAQ: BRY) announced the appointment of Jeff Magids as Vice President and Chief Financial Officer, effective January 21, 2025. Mike Helm will continue to serve as Vice President and Chief Financial Officer. Magids brings over 15 years of experience in the oil and gas sector, most recently serving as Vice President of Finance and Investor Relations at SilverBow Resources.
Magids’ background includes positions at Lime Rock Resources, the energy investment banking group of BMO Capital Markets and Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. The appointment aims to improve Berry’s financial and strategic leadership skills, with a focus on sustainable growth, value creation and balance sheet optimization.
Berry (NASDAQ: BRY) announced the number of Jeff Magids as Vice President and Chief Financial Officer, effective January 21, 2025. Mike Helm will continue as Vice President and Chief Accounting Officer. Magids brings more than 15 years of experience in the oil and gas industry, having most recently served as Vice President of Finance and Investor Relations at SilverBow Resources.
Magids’ background includes positions at Lime Rock Resources, the energy investment banking group of BMO Capital Markets and Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. The designation aims to improve Berry’s financial and strategic leadership skills, focusing on sustainable growth, value creation and balance optimization.
Berry (NASDAQ: BRY)the Jeff Magids를 부사기 겸 가이재무책임자자 이명이니다, this was announced and implemented on 2025년 1읜. Mike Helm is slated to continue as executive vice president. Magids has more than 15 years of experience in the oil and gas industry, and most recently worked as an investor in SilverBow Resources.
Magid’s career includes Lime Rock Resources, BMO Capital Markets’ Energy Investment Bank Group and Duff & Phelps Investment Bank. This appointment aims to strengthen Berry’s leadership and strategic leadership capabilities and focus on sustainable, strategic leadership and optimization.
Berry (NASDAQ: BRY) announced the appointment of Jeff Magids to the position of Vice President and Chief Financial Officer, effective January 21, 2025. Mike Helm will continue as Vice President and Chief Financial Officer. Magids brings over 15 years of experience in the oil and gas industry, most recently serving as Vice President of Finance and Investor Relations at SilverBow Resources.
Magids’ background includes positions at Lime Rock Resources, the energy investment banking group of BMO Capital Markets and Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. This appointment aims to strengthen Berry’s financial and strategic leadership capabilities, focusing on sustainable growth, value creation and balance sheet optimization.
Berry (NASDAQ: BRY) has die Ernennung von Jeff Magids zum Vizepräsidenten und Chief Financial Officer bekannt gegeben, die am 21. Januar 2025 wirksam wird. Mike Helm will continue to serve as Vice President and Chief Accounting Officer. Magids brings over 15 years of experience in the oil and gas industry, where he most recently worked as Vice President for Finance and Investor Relations at SilverBow Resources.
Magid’s background includes positions at Lime Rock Resources, the Energy division of BMO Capital Markets as well as at Duff & Phelps. He holds a BBA in Finance from the University of Texas at Austin and an MBA from Rice University. The appointment aims to improve Berry’s financial and strategic leadership skills, with a focus on sustainable growth, value creation and balance sheet optimization.
Positive
- Appointment of an experienced CFO with 15+ years in the oil and gas industry
- Strategic focus on deleveraging and balance sheet optimization
- The retention of the existing Chief Accounting Officer ensures operational continuity
- Strong portfolio of assets in California and growth opportunities in Utah’s Uinta Basin
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.
About Berry Corporation (BRY)
Berry is an independent Western US upstream energy company (NASDAQ: BRY ) with a focus on land, low geological risk, low decay, long-life oil and gas reserves. We operate in two business segments: (i) exploration and production (“E&P”) and (ii) well servicing and abandonment. Our E&P assets are located in California and Utah, are characterized by high oil content and are mainly located in rural areas with low population. Our California assets are in the San Joaquin Basin (
Forward-looking statements
This press release contains forward-looking statements. Berry’s management believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will be correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this press release. These factors include our ability to meet financial guidance or distribution expectations; our ability to safely and effectively operate Berry’s assets; the supply, demand and price of oil, natural gas, NGLs, and related products or services; our capital program and development and production plans; potential acquisitions and other strategic opportunities; reserves; hedging activities; and the other factors described in the “Risk Factors” section of Berry’s most recent Form 10-K filed with the Securities and Exchange Commission and other public filings and press releases. Berry undertakes no obligation to publicly update or revise any forward-looking statements.
FAQ
Who will be the new CFO of Berry (BRY) on January 21, 2025?
Jeff Magids has been appointed Vice President and Chief Financial Officer of Berry effective January 21, 2025.
What is Jeff Magids previous experience before joining Berry (BRY)?
Jeff Magids previously served as Vice President of Finance and Investor Relations at SilverBow Resources, and has held positions at Lime Rock Resources, the energy investment banking group of BMO Capital Markets, and Duff & Phelps.
What are the main strategic focuses of Berry (BRY) under the new CFO?
Under the new CFO, Berry is focused on delivering long-term sustainable growth, creating shareholder value, deleveraging, and optimizing its balance sheet through disciplined capital deployment.
What are Berry’s (BRY) key asset locations by 2025?
Berry maintains a world-class asset base in California and has growth opportunities in Utah’s emerging Uinta Basin.