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): December 19, 2008
BERRY PETROLEUM
COMPANY
(Exact
Name of Registrant as Specified in its Charter)
|
DELAWARE
(State
or Other Jurisdiction of
Incorporation
or Organization)
|
1-9735
(Commission
File Number)
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77-0079387
(IRS
Employer
Identification
Number)
|
|
1999
BROADWAY, DENVER, CO
(Address
of Principal Executive Offices)
|
80220
(Zip
Code)
|
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))
1
Item
8.01 Other Events
Between
December 8, 2008 and December 18, 2008, Berry Petroleum Company (the "Company")
entered into crude oil swaps totaling 10,000 barrels per day for 2009 at a
weighted average price of $54.32 NYMEX West Texas Intermediate (NYMEX
WTI), contemporaneously extinguishing existing crude oil collars of 10,000
barrels per day for 2009 with a floor and ceiling price of $47.50 and $70.00
NYMEX WTI, respectively. Additionally,
between December 9, 2008 and December 16, 2008, the Company entered into
interest rate swaps based on one-month LIBOR at a weighted average
fixed rate of 2.38%, with beginning dates of April 15, 2009 and
September 15, 2009 and a maturity date of July 15, 2012, on $175 million of
outstanding borrowings under its revolving credit facility. Please
refer to the hedging summary table located at http://www.bry.com/index.php?page=hedging on
the Company’s website at www.bry.com.
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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||||
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Corporate
Secretary
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Date:
December 19, 2008
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