Earnings Call Summary | Berry Corp (Bry)(BRY.US) Q2 2024 Earnings Conference
Earnings Call Summary | Berry Corp (Bry)(BRY.US) Q2 2024 Earnings Conference
Reduced lease operating expenses by 11% and G&A expenses by 10% in Q2.The following is a summary of the Berry Corporation (BRY) Q2 2024 Earnings Call Transcript:
以下是Berry公司（BRY）2024年第二季度業績會交流摘要：
Financial Performance:
金融業績：
Q2 adjusted EBITDA rose by $5 million to $74 million.
Reduced lease operating expenses by 11% and G&A expenses by 10% in Q2.
第二季度調整後的EBITDA增加了500萬美元，達到7400萬美元。
第二季度租賃經營費用和總務費用分別下降11%和10%。
Business Progress:
業務進展：
Drilled 19 wells with robust performance, and 15 of these were in California.
Initiated a farm-out process for part of the 2025 and 2026 programs.
第二季度鑽探出了19口井，其中15口在加利福尼亞州，表現良好。
啓動了2025年和2026年項目的部分農業外包流程。
Opportunity:
機會：
Uinta Basin development offers significant potential with nearly 100,000 net acres and promising initial rates.
Cost advantages and installed infrastructure in Uinta Basin enhance capital efficiency and economics.
Uinta Basin的開發具有顯著的潛力，擁有近100,000英畝的淨佔地，最初的開採速率也很有前途。
Uinta Basin的成本優勢和已安裝的基礎設施可以提高資本效率和經濟效益。
Financial Performance:
金融業績：
Berry Corporation reported a Q2 2024 adjusted EBITDA of $74 million, up $5 million from Q1.
Q2 production held steady quarter-over-quarter at 25,300 barrels of oil equivalent per day.
Q2 realized crude prices were $78.18 per boe, making up 92% of Brent, with total commodity revenue at $169 million.
Lease operating expenses decreased by 11% in Q2 to $23.47 per boe, and adjusted G&A expenses decreased by 10% to $7.41 per boe.
Q2 capital expenditures were $42 million, inline with expectations, supporting development in California and facilities projects.
Adjusted free cash flow for Q2 was reported at $19 million, with year-to-date figures tracking higher than 2023.
The company also prioritized debt reduction, lowering their revolver balance to $36 million by the end of Q2.
Berry公司報告2024年第二季度調整後的EBITDA爲7400萬美元，比第一季度增加了500萬美元。
第二季度產量同比穩定，爲每天25,300桶油當量。
第二季度實現原油價格爲每桶78.18美元，佔布倫特原油的92%，商品總收入爲16900萬美元。
第二季度租賃經營費用下降11%，爲每桶23.47美元，調整後的總務費用下降10%，爲每桶7.41美元。
第二季度資本支出爲4200萬美元，符合預期，支持加利福尼亞州的開發和設施項目。
第二季度調整後的自由現金流報告爲1900萬美元，截至今年的數據比2023年高。
公司還優先考慮了債務減少的問題，將到期的餘額在第二季度降至3600萬美元。
Business Progress:
業務進展：
Continued strong operational performance with sustained production levels and successful drilling outcomes.
Drilled 19 wells in the quarter, with 15 in California and four in Utah, exceeding performance expectations.
Received new drilling permits supporting the development plans for 2025.
Started a process to farm out a portion of the 2025 and 2026 program to manage capital efficiently.
Focused on maintaining a strong balance sheet with a proactive debt reduction strategy aiming for a debt-to-EBITDA ratio lower than 1.5x.
持續強勁的運營表現，保持產量水平和成功的鑽探結果。
本季度鑽井19口，其中15口在加利福尼亞州，4口在猶他州，超出預期表現。
獲得了支持2025年開發計劃的新鑽井許可證。
開始了部分2025年和2026年項目的農業外包流程，以有效管理資本。
專注於保持強大的資產負債表，採取積極的債務減少策略，以達到少於1.5倍的債務與EBITDA比率。
Opportunities:
機會：
The Uinta Basin development in Utah offers a significant opportunity with nearly 100,000 net operated acres held by production showcasing strong initial production rates and the potential for horizontal well development.
Berry's cost advantage in the basin and significant installed infrastructure provide a competitive edge for capital efficiency and economic improvement of the wells.
位於猶他州的Uinta Basin的開發提供了巨大的機會，擁有近10萬英畝的淨佔地，展示出強大的初期開採速率和水平井開發的潛力。
貝瑞在該盆地的成本優勢和重要的製造行業的安裝基礎設施，爲井的資本效率和經濟改善提供了競爭優勢。
Risks:
風險：
No explicit risks/opportunities detected.
未檢測到明確的風險/機會。
More details: Berry Corp (bry) IR
更多細節：貝瑞公司（bry）IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：如需更全面的詳情，請參閱投資人關係網站。本文僅供投資者參考，不作任何指引或建議。
譯文內容由第三人軟體翻譯。
