Berry Petroleum to pay down revolver debt with senior note proceeds

By Sarah Lizee

Olympia, Wash., Jan. 26 – Berry Petroleum Co., LLC intends to pay down borrowings under its revolving credit facility using proceeds from a new offering, according to a press release.

The company said on Friday that it intends to offer $350 million of senior notes due 2026.

Proceeds will also be used for general corporate purposes.

The Bakersfield, Calif.-based owns and operates oil and gas properties in California, Colorado, Utah, Kansas and Texas.

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