Dallas-based Berry Corp. has completed a $70 million all-cash acquisition of ​​Kern County, CA-based Macpherson Energy Corp., which builds its San Joaquin Basin production and cash flow.

The exploration and production (E&P) company updated its full-year guidance based on a Henry Hub natural gas price average of $2.77/MMBtu. 

“This transaction is immediately accretive to Berry in both production and cash flows, supports our overall strategic plan to efficiently maintain our California production, and is expected to enhance our cash flows and shareholder returns,” CEO Fernando Araujo said.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

The acquisition is set to add 2,400 boe/d to...