UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): May 19, 2009
BERRY PETROLEUM
COMPANY
(Exact
Name of Registrant as Specified in its Charter)
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DELAWARE
(State
or Other Jurisdiction of
Incorporation
or Organization)
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1-9735
(Commission
File Number)
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77-0079387
(IRS
Employer
Identification
Number)
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1999 BROADWAY, SUITE 3700,
DENVER, COLORADO
(Address
of Principal Executive Offices)
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80202
(Zip
Code)
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Registrant’s
telephone number, including area code: (303) 999-4400
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item
1.01 Entry Into a Material Definitive Agreement
On May
19, 2009, Berry Petroleum Company (NYSE:BRY) (“Company”) entered into an
agreement to sell its East Texas gas gathering system to Velocity East
Texas Gathering, LLC for $18.5 million in cash. The Company will enter into a
concurrent long-term gas gathering agreement for its East Texas
production. The transaction is expected to close in June 2009. The
completion of the transaction is subject to certain conditions and there is no
assurance that all such conditions will be satisfied. The news
release is attached hereto as Exhibit 99.1, which is incorporated by reference
in its entirety.
Item
8.01 - Other Events
The
Company also announced that its board of directors has authorized a $32
million increase to its 2009 capital budget, now totaling approximately $132
million.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
99.1 -
News Release by Berry Petroleum Company dated May 20, 2009, titled "Berry
Petroleum Agrees to Sell East Texas Midstream Assets."
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereto
duly authorized.
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BERRY PETROLEUM
COMPANY
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By:
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/s/ Kenneth A.
Olson
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Kenneth
A. Olson
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Corporate
Secretary
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Date: May
19, 2009
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