Berry Corporation (BRY)

[OilStockReport]

Oct. 28--The Berry Petroleum Company of Denver announced it has agreed to purchase an additional $180 million in assets in the Wolfberry trend in the Permian Basin. The 9,300 net acres means the company has purchased 19,350 acres and spent $313 million since entering the Wolfberry in March.

According to a news release, the 2010 purchases are expected to give Berry a five-year inventory of 400 drilling locations on 40-acre spacing and 400 more on 20-acre spacing.

Within the next four years, Berry CEO Robert Heinemann expects to produce 9,000 barrels of oil equivalent per day. Currently, Berry's Wolfberry assets produce around 1,700 barrels daily.