X
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the Fiscal Year Ended December 31, 2006
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OR
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o
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 (NO FEE REQUIRED)
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A.
Full title of the Plan and the address of the Plan, if different
from that of the issuer named
below:
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B.
Name of issuer of the securities held pursuant to the Plan
and the
address of its principal executive
office:
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BERRY
PETROLEUM COMPANY THRIFT PLAN
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INDEX
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Report
of Independent Registered Public Accounting Firm
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2
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Financial
Statements
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Statements
of Net Assets
Available for Benefits
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as
of
December 31, 2006 and 2005
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3
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Statement
of Changes in Net
Assets Available for Benefits
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for
the year ended
December 31, 2006
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4
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Notes
to Financial
Statements
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5
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Supplemental
Schedule
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Schedule
H, Line 4i - Schedule of
Assets (Held at End of Year)
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as
of December 31,
2006
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12
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2006
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2005
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ASSETS:
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Investments,
at fair value:
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Interest
bearing
cash
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$ |
243,292
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$ |
157,632
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Shares
in registered investment
companies
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18,814,921
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14,773,872
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Common
and collective
trust
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4,673,161
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5,589,077
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Common
stock of
sponsor
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4,271,131
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2,956,954
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Participants
loans
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502,959
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692,721
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28,505,464
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24,170,256
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Non-interest
bearing cash
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-
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119,409
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Accrued
income
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1,032
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562
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Net
assets available for benefits,
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at
fair value
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28,506,496
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24,290,227
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Adjustment
from fair value to contract value for
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fully
benefit-responsive
investment contracts
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46,969
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63,451
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Net
assets available for benefits
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$ |
28,553,465
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$ |
24,353,678
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ADDITIONS:
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Additions
to net assets attributable to:
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Contributions:
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Participants
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$ |
1,720,366
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Employer
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1,211,832
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Rollovers
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202,419
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3,134,617
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Interest
and dividends
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1,434,508
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Interest
on participant loans
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45,301
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Net
appreciation in fair value of investments
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1,521,172
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3,000,981
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Total
additions
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6,135,598
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DEDUCTIONS:
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Deductions
from net assets attributable to:
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Administrative
fees
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4,137
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Deemed
distributions of participant loans
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7,714
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Benefits
paid to participants
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1,923,960
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Total
deductions
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1,935,811
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Net
increase in net assets
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4,199,787
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Net
assets available for benefits:
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Beginning
of year
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24,353,678
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End
of year
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$ |
28,553,465
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BERRY
PETROLEUM COMPANY THRIFT
PLAN
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General
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Spartan
U.S. Equity Index Fund
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Fidelity
Managed Income Portfolio
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CRM
Mid Cap Fund (1)
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Fidelity
Contrafund
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ABF
Small Cap Value PA Fund
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Fidelity
Diversified International Fund
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ABF
Large Cap Value PA Fund
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Fidelity
Inflation Protected Bond Fund
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Morgan
Stanley Institutional -
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Fidelity
Low-Priced Stock Fund
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Equity
Growth Portfolio B Fund
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Fidelity
Puritan Fund
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PIMCO
High Yield Admin Fund
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Fidelity
U.S. Bond Index Fund
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RS
Smaller Company Growth Fund
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Fidelity
Freedom Income Fund
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Fidelity
Freedom Funds (2)
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(1)
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Option
added as of February 27, 2006.
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(2)
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The
entire range of Freedom Funds are available and comprise the Freedom
2000,
2005, 2010, 2015
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2006
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2005
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Fidelity
Managed Income
Portfolio
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$ |
4,673,161
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(a) |
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$ |
5,589,077
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(a) | |
Berry
Petroleum Company Common Stock Fund
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4,515,424
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(b) |
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3,234,557
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(b) | |||
Fidelity
Diversified
International Fund
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3,949,574
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2,553,393
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Fidelity
Contrafund
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3,378,562
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3,083,824
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Fidelity
Low-Priced Stock
Fund
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2,875,574
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2,600,759
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Spartan
U.S. Equity Index
Fund
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2,236,371
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2,106,217
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ABF
Large Cap Value PA
Fund
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1,559,371
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*
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Net
assets available for benefits per the financial statements
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$ |
28,553,465
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Adjustment
from fair value to contract value for fully
benefit-responsive
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investment
contracts
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(46,969 | ) | ||
Net
assets available for benefits per the Form 5500
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$ |
28,506,496
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The
following is a reconciliation
of investment income per the financial statements to the amount per
the
Form 5500 for the year ended December 31, 2006:
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Investment
income per the financial statements
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$ |
3,000,981
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Adjustment
from fair value to contract value for fully
benefit-responsive
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investment
contracts for the year
ended December 31, 2006
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(46,969 | ) | ||
Investment
income per the Form 5500
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$ |
2,954,012
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(a)
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(b)
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(c)
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(e)
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Description
of investment, including maturity date, rate of interest, collateral,
par
or maturity value
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Current
Value
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*
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Fidelity
Managed Income Portfolio
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Common
Collective Trust
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$ 4,673,161
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*
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Berry
Petroleum Company Common Stock Fund ***
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Class
A Common Stock Fund ($0.01 par value)
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4,515,424
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*
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Fidelity
Diversified International Fund
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Mutual
Fund
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3,949,574
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*
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Fidelity
Contrafund
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Mutual
Fund
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3,378,562
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*
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Fidelity
Low-Priced Stock Fund
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Mutual
Fund
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2,875,574
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*
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Spartan
U.S. Equity Index Fund
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Mutual
Fund
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2,236,371
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ABF
Large Cap Value PA Fund
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Mutual
Fund
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1,559,371
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CRM
Mid Cap Val Inv Fund
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Mutual
Fund
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749,893
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*
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Fidelity
Freedom 2020 Fund
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Mutual
Fund
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510,718
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Morgan
Stanley Institutional Equity Growth B Fund
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Mutual
Fund
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494,784
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ABF
Small Cap Value PA Fund
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Mutual
Fund
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488,815
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RS
Smaller Co. Growth Fund
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Mutual
Fund
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407,689
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*
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Fidelity
US Bond Index Fund
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Mutual
Fund
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352,350
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*
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Fidelity
Freedom 2030 Fund
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Mutual
Fund
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329,333
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*
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Fidelity
Puritan Fund
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Mutual
Fund
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298,877
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*
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Fidelity
Freedom 2010 Fund
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Mutual
Fund
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280,765
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Pimco
High Yield Admin Fund
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Mutual
Fund
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268,494
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*
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Fidelity
Freedom 2040 Fund
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Mutual
Fund
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208,282
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*
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Fidelity
Inflation Protected Bond
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Mutual
Fund
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161,490
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*
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Fidelity
Freedom 2025 Fund
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Mutual
Fund
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147,071
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*
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Fidelity
Freedom Income Fund
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Mutual
Fund
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69,994
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*
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Fidelity
Freedom 2000 Fund
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Mutual
Fund
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43,574
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*
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Fidelity
Freedom 2035 Fund
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Mutual
Fund
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1,709
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*
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Fidelity
Freedom 2015 Fund
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Mutual
Fund
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1,631
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Fidelity
Retirement Money Market **
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Money
Market
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31
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Total
Investments
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28,003,537
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*
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Participant
loans
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Interest
bearing loans at prime rate plus 1% to 2%; interest rates on outstanding
loans range from 6% to 10% for a period of 1 to 5 years.
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502,959
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Net
assets available for benefits
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$ 28,506,496
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* Party-in-interest
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** Fidelity
Retirement Money Market Funds unallocated to participant accounts
at
year- end.
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***
Includes 137,734 shares of Class A Common Stock, $0.01 par
value,
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and
cash of $243,261 and accrued income of $1,032.
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