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): July 30, 2008
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, STE. 3700,
DENVER, CO
(Address
of Principal Executive Offices)
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80202
(Zip
Code)
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Registrant’s
telephone number, including area code: (303) 825-3344
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
July 30, 2008, Berry Petroleum Company (Company) entered into
a $100,000,000 senior unsecured revolving credit facility
(“Facility”) with Société Générale, BNP Paribas, and BNP Paribas Securities
Corp. (“Lenders”) formalizing the commitment letter referenced in the Company’s
Form 8-K filed July 16, 2008. The Facility matures on
December 31, 2008 and has usual and customary conditions, representations and
warranties.
Interest
on amounts borrowed under this debt is charged at either LIBOR plus (i) 3% on or
before October 13, 2008 or (ii) 3.5% after October 13, 2008 or a prime rate plus
(i) 4 % on or before October 13, 2008 or (ii) 4.5% after October 13,
2008. The proceeds of the Facility, if any, are available to the
Company at such time as the Company’s secured revolving credit facility is fully
drawn. Any proceeds drawn under the Facility are
available for capital expenditures, working capital and general
corporate purposes but not for acquisitions.
The full
text of the Facility will be filed as an exhibit to the Company’s third quarter
2008 Form 10-Q and will provide a description of the terms, covenants,
representations and warranties.
Item
2.03 Creation Of A Direct Financial Obligation Or An Obligation Under An
Off-Balance Sheet Arrangement Of A Registrant
The
information set forth in Item 1.01 is incorporated herein by
reference.
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: July
31, 2008
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