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Exhibit 10.2
 
[EXECUTION]

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

THIS THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”)
made as of April 24, 2009 by and among BERRY PETROLEUM COMPANY, a Delaware
corporation (“Borrower”), WELLS FARGO BANK, NATIONAL ASSOCIATION, individually
and as administrative agent (“Administrative Agent”), and the Lenders party to
the Original Credit Agreement defined below (“Lenders”).

W I T N E S S E T H:

WHEREAS, Borrower, Administrative Agent and Lenders entered into that certain
Amended and Restated Credit Agreement dated as of July 15, 2008 (as amended,
supplemented, or restated to the date hereof, the “Original Credit Agreement”),
for the purpose and consideration therein expressed, whereby Lenders became
obligated to make loans to Borrower as therein provided; and

WHEREAS, Borrower, Administrative Agent and Lenders desire to amend the Original
Credit Agreement as set forth herein;

NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements contained herein and in the Original Credit Agreement, in
consideration of the loans which may hereafter be made by Lenders to Borrower,
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto do hereby agree as follows:

ARTICLE I.

DEFINITIONS AND REFERENCES

§ 1.1.        Terms Defined in the Original Credit Agreement.  Unless the
context otherwise requires or unless otherwise expressly defined herein, the
terms defined in the Original Credit Agreement shall have the same meanings
whenever used in this Amendment.

§ 1.2.        Other Defined Terms.  Unless the context otherwise requires, the
following terms when used in this Amendment shall have the meanings assigned to
them in this Section 1.2.

 “Amendment” means this Third Amendment to Amended and Restated Credit
Agreement.

 “Credit Agreement” means the Original Credit Agreement as amended hereby.

 “Original Omnibus Certificate” means the Omnibus Certificate dated July 15,
2008 executed and delivered by officers of Borrower pursuant to the Original
Credit Agreement.
 
[Third Amendment to Credit Agreement]

 
 

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ARTICLE II.

AGREEMENTS

§ 2.1.        Definitions.

(a)            The following definitions in Section 1.1 of the Original Credit
Agreement are hereby amended in their entirety to read as follows:

 “Availability” means on any day during the Commitment Period, an amount equal
to the lesser of the Aggregate Commitment or the Borrowing Base, determined for
such day by deducting from such lesser amount at the end of such day, the
Facility Usage.

 “Secured Obligations” means all Obligations and all Lender Hedging Obligations;
provided that after the end of the Suspension Period, SG Obligations will be
included in the Secured Obligations.

(b)            The following new definitions are hereby added to Section 1.1 of
the Original Credit Agreement in alphabetical order to read as follows:

 “Discharge of Second Lien Obligations” has the meaning given to such term in
the Second Lien Intercreditor Agreement.

 “Second Lien Intercreditor Agreement” means that certain Intercreditor
Agreement dated as of April 24, 2009 among Administrative Agent, Wells Fargo
Energy Capital, Inc., as administrative agent for the Term Lenders (as defined
therein),  and Borrower, as from time to time supplemented, amended or
restated.”

 “SG Obligations” means the Indebtedness arising under the SG Money Market
Facility in an aggregate principal amount not to exceed $30,000,000, plus all
interest accrued thereon and all fees, expenses and other Liabilities payable
with respect thereto; provided that no loans or advances shall be made by SG
under the SG Money Market Facility during the Suspension Period.

 “Suspension Period” means the period from and including April 24, 2009 until
the date on which the Discharge of Second Lien Obligations has occurred.

(c)            The definition of “Impacted Lender” in Section 1.1 of the
Original Credit Agreement is hereby amended to replace the reference to “the LC
Issuer” in clause (b)(i) thereof with “Administrative Agent”.

§ 2.2.       Indebtedness.  Subsection (f) of Section 7.1 of the Original Credit
Agreement is hereby amended in its entirety to read as follows:

“(f)           only after the end of the Suspension Period, SG Obligations;”
 
[Third Amendment to Credit Agreement]
 
 
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§ 2.3.       Asset Sales.  Subsection (i) of Section 7.5 of the Original Credit
Agreement is hereby amended in its entirety to read as follows:

(i)             sales and dispositions of other property for a purchase price
paid in cash or Mineral Interests in an amount at least equal to the fair market
value thereof; provided that if the aggregate sales price for all such property
sold during any period between any two sequential Determination Dates exceeds
five percent (5%) of the Present Value of the Borrowing Base Properties, the
Borrowing Base shall be reduced effective immediately upon such sale or
disposition by an amount equal to the value, if any, assigned to such property
in the most recently delivered Engineering Report.

§ 2.4.        Lenders Schedule.  Schedule 1 to the Credit Agreement is hereby
replaced with Exhibit A attached hereto.

§ 2.5.        Borrowing Base.  Pursuant to Section 2.9(a) of the Credit
Agreement, Administrative Agent and Lenders hereby notify Borrower that from the
date hereof until and including the next Determination Date the Borrowing Base
shall be $1,008,000,000, and by its execution hereof, Borrower accepts the
foregoing Borrowing Base.

§ 2.6.        Reallocation.

(a)            Lenders hereby authorize Administrative Agent and Borrower to
request Revolving Loans from the Lenders, to make prepayments of Revolving Loans
and to reallocate Commitments under the Credit Agreement among Lenders in order
to ensure that, upon the effectiveness of this Agreement, the Revolving Loans of
the Lenders shall be outstanding on a ratable basis in accordance with their
respective Percentage Shares and that the Commitments shall be as set forth on
Schedule 1 of the Credit Agreement, as replaced hereby, and no such borrowing,
prepayment or reallocation shall violate any provisions of the Credit
Agreement.  Lenders hereby confirm that, from and after the effectiveness of
this Agreement, all participations of Lenders in respect of Letters of Credit
outstanding under the Credit Agreement pursuant to Section 2.13 of the Credit
Agreement shall be based upon the Percentage Shares of Lenders (after giving
effect to this Agreement).

(b)            Lenders hereby waive any requirements for minimum amounts of
prepayments of Revolving Loans and ratable payments on account of the principal
or interest of any Revolving Loan under the Credit Agreement to the extent such
prepayment or payments are required pursuant to the Credit Agreement.  Borrower
shall pay any funding indemnification amounts required by Section 3.4 of the
Credit Agreement in the event the payment of any principal of any Eurodollar
Loan or the conversion of any Eurodollar Loan other than on the last day of an
Interest Period applicable thereto is required in connection with the
reallocation contemplated by this Section 2.5.

§2.6          Second Lien Intercreditor Agreement.  A new Section 9.14 is hereby
added to the Original Credit Agreement immediately after Section 9.13 thereof to
read as follows:

 “Section 9.14.  Second Lien Intercreditor Agreement.  Each Lender hereby
irrevocably authorizes Administrative Agent to execute and, by such execution,
to bind such Lender to the terms of the Second Lien Intercreditor Agreement and
to take all actions (and execute all documents) required (or deemed advisable)
by the Administrative Agent in accordance with the terms of the Second Lien
Intercreditor Agreement, and each of the Lenders agrees to be bound by the terms
of the Second Lien Intercreditor Agreement as fully as if a signatory thereto.”
 
[Third Amendment to Credit Agreement]
 
 
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§2.7.        SG Obligations.  SG hereby agrees that during the Suspension
Period, (i) it will not make any loans or advances under the SG Money Market
Facility, (ii) the SG Obligations will not be part of the Secured Obligations,
(iii) no SG obligations will be secured by the Collateral and (iv) SG will not
be entitled to any proceeds of the Collateral.  Pursuant to Section 10.1(a) of
the Original Credit Agreement, SG expressly consents to the terms of this
Amendment and the Second Lien Intercreditor Agreement and authorizes
Administrative Agent to enter into the Second Lien Intercreditor Agreement.

ARTICLE III.

CONDITIONS OF EFFECTIVENESS

§3.1         Effective Date.  This Amendment shall become effective as of the
date first above written when and only when:

(a)            Administrative Agent shall have received all of the following, at
Administrative Agent’s office, duly executed and delivered and in form and
substance satisfactory to Administrative Agent, all of the following:

(i)             this Amendment;

(ii)            a certificate of the Secretary of Borrower dated the date of
this Amendment certifying: (i) that resolutions attached thereto previously
adopted by the Board of Directors of the Borrower authorize the execution,
delivery and performance of this Amendment by Borrower; (ii) the names and true
signatures of the officers of the Borrower authorized to execute and deliver
Loan Documents; (iii) that the certificate of incorporation and bylaws of
Borrower are in effect on the date hereof and no modifications have been made to
them; and (iv) that all of the representations and warranties set forth in
Article IV hereof are true and correct on and as of the date hereof, except to
the extent that such representation or warranty was made as of a specific date
or updated, modified or supplemented as of a subsequent date with the consent of
Required Lenders and Administrative Agent, in which cases such representations
and warranties shall have been true and correct in all material respects on and
of such earlier date;

(iii)           the certificate of a Responsible Officer of Borrower required to
be delivered pursuant to clause (h) of the definition of Permitted Second Lien
Debt, which certificate relates to the Indebtedness of Borrower arising under
that certain Second Lien Credit Agreement dated of even date herewith among
Borrower, Wells Fargo Energy Capital, Inc., as administrative agent, and the
other lenders party thereto;

(iv)           the Second Lien Intercreditor Agreement;
 
[Third Amendment to Credit Agreement]
 
 
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(v)            evidence satisfactory to Administrative Agent that no SG
Obligations remain outstanding; and

(vi)           such other supporting documents as Administrative Agent may
reasonably request.

(b)            Borrower shall have paid, in connection with such Loan Documents,
all other fees and reimbursements to be paid to Administrative Agent pursuant to
any Loan Documents, or otherwise due Administrative Agent and including fees and
disbursements of Administrative Agent’s attorneys.

ARTICLE IV.

REPRESENTATIONS AND WARRANTIES

§4.1          Representations and Warranties of Borrower.  In order to induce
each Lender to enter into this Amendment, Borrower represents and warrants to
each Lender that:

(a)            The representations and warranties contained in Article V of the
Original Credit Agreement are true and correct on and as of the date hereof,
except to the extent that such representation or warranty was made as of a
specific date or updated, modified or supplemented as of a subsequent date with
the consent of Required Lenders and Administrative Agent, in which cases such
representations and warranties shall have been true and correct in all material
respects on and of such earlier date.

(b)            Borrower is duly authorized to execute and deliver this Amendment
and is and will continue to be duly authorized to borrow monies and to perform
its obligations under the Credit Agreement. Borrower has duly taken all
corporate action necessary to authorize the execution and delivery of this
Amendment and to authorize the performance of the obligations of Borrower
hereunder.

(c)            The execution and delivery by Borrower of this Amendment, the
performance by Borrower of its obligations hereunder and the consummation of the
transactions contemplated hereby do not and will not (a) conflict with (i) any
Law, (ii) the articles of incorporation and bylaws of Borrower, or (iii) any
agreement, judgment, license, order or permit applicable to or binding upon
Borrower in any material respect, or (b) result in the creation of any Lien upon
any assets or properties of Borrower.  Except for those which have been
obtained, no consent, approval, authorization or order of any court or
governmental authority or third party is required in connection with the
execution and delivery by Borrower of this Amendment or to consummate the
transactions contemplated hereby.

(d)            When duly executed and delivered, each of this Amendment and the
Credit Agreement will be a legal and binding obligation of Borrower, enforceable
in accordance with its terms, except as limited by bankruptcy, insolvency or
similar laws of general application relating to the enforcement of creditors’
rights and by equitable principles of general application.

(e)            The audited annual Consolidated financial statements of Borrower
dated as of December 31, 2008 fairly present the Consolidated financial position
at such date and the Consolidated statement of operations and the changes in
Consolidated financial position for the periods ending on such date for
Borrower.  Copies of such financial statements have heretofore been delivered to
each Lender.  Since such date no material adverse change has occurred in the
financial condition or businesses or in the Consolidated financial condition or
businesses of Borrower.
 
[Third Amendment to Credit Agreement]
 
 
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ARTICLE V.

MISCELLANEOUS

§5.1          Ratification of Agreements.  The Original Credit Agreement as
hereby amended is hereby ratified and confirmed in all respects.  The Loan
Documents, as they may be amended or affected by this Amendment, are hereby
ratified and confirmed in all respects. Any reference to the Credit Agreement in
any Loan Document shall be deemed to be a reference to the Original Credit
Agreement as hereby amended.  The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of Lenders under the Credit Agreement, the Notes, or
any other Loan Document nor constitute a waiver of any provision of the Credit
Agreement, the Notes or any other Loan Document.

§5.2          Survival of Agreements.  All representations, warranties,
covenants and agreements of Borrower herein shall survive the execution and
delivery of this Amendment and the performance hereof, including without
limitation the making or granting of the Loans, and shall further survive until
all of the Obligations are paid in full.  All statements and agreements
contained in any certificate or instrument delivered by Borrower hereunder or
under the Credit Agreement to any Lender shall be deemed to constitute
representations and warranties by, and/or agreements and covenants of, Borrower
under this Amendment and under the Credit Agreement.

§5.3          Loan Documents.  This Amendment is a Loan Document, and all
provisions in the Credit Agreement pertaining to Loan Documents apply hereto.

§5.4          Governing Law.  This Amendment shall be governed by and construed
in accordance with and governed by the laws of the State of California and the
laws of the United States of America without regard to principles of conflicts
of law.

§5.5          Counterparts; Fax.  This Amendment may be separately executed in
counterparts and by the different parties hereto in separate counterparts, each
of which when so executed shall be deemed to constitute one and the same
Amendment.  This Amendment may be validly executed by facsimile or other
electronic transmission.

THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO
UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.

[The remainder of this page has been intentionally left blank.]
 
[Third Amendment to Credit Agreement]
 
 
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IN WITNESS WHEREOF, this Amendment is executed as of the date first above
written.

 
BERRY PETROLEUM COMPANY
             
By:
  /s/ David D. Wolf    
Name: David D. Wolf
   
Title: Executive Vice President and Chief Financial Officer

 
[Third Amendment to Credit Agreement]
 
 

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WELLS FARGO BANK, NATIONAL ASSOCIATION, Administrative Agent, LC Issuer and
Lender
             
By:
 /s/ Oleg Kogan    
Oleg Kogan
   
Vice President

 
[Third Amendment to Credit Agreement]
 
 

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BNP PARIBAS, Lender
             
By:
 /s/ Betsy Jocher    
Name: Betsy Jocher
   
Title: Director
                   
By:
  /s/ Greg Smothers    
Name: Greg Smothers
   
Title: Director

 
[Third Amendment to Credit Agreement]
 
 

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SOCIÉTÉ GÉNÉRALE, Lender under the Credit Agreement and the SG Money Market
Facility
             
By:
 /s/ Stephen W. Warfel    
Name: Stephen W. Warfel
   
Title: Managing Director

 
[Third Amendment to Credit Agreement]
 
 

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JPMORGAN CHASE BANK, N.A., Lender
             
By:
  /s/ Michael A. Kamauf    
Name: Michael A. Kamauf
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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THE ROYAL BANK OF SCOTLAND plc, Lender
             
By:
  /s/ Lucy Walker        
Name: Lucy Walker
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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THE BANK OF NOVA SCOTIA, Lender
             
By:
  /s/ Andrew Ostrov    
Name: Andrew Ostrov
   
Title: Director

 
[Third Amendment to Credit Agreement]
 
 

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 WACHOVIA BANK, N.A., Lender
             
By:
  /s/ Paul Pritchett    
Name: Paul Pritchett
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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UNION BANK, N.A. (formerly known as Union Bank of California, N.A.), Lender
             
By:
  /s/ Timothy Brendel    
Name: Timothy Brendel
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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COMPASS BANK, Lender
             
By:
  /s/ Greg Determann    
Name: Greg Determann
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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U.S. BANK NATIONAL ASSOCIATION, Lender
             
By:
  /s/ Justin M. Alexander    
Name: Justin M. Alexander
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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CREDIT SUISSE, CAYMAN ISLANDS BRANCH, Lender
             
By:
  /s/ Nupur Kumar    
Name: Nupur Kumar
   
Title: Vice President
             
By:
  /s/ Shaheen Malik    
Name: Shaheen Malik
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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BANK OF SCOTLAND plc, Lender
             
By:
  /s/ Julia R. Franklin    
Name: Julia R. Franklin
   
Title: Assistant Vice President

 
[Third Amendment to Credit Agreement]
 
 

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NATIXIS, Lender
             
By:
  /s/ LouisP. Laville, III    
Name: Louis P. Laville, III
   
Title: Managing Director
             
By:
  /s/ Liana Tchernysheva    
Name: Liana Tchernysheva
   
Title: Director

 
[Third Amendment to Credit Agreement]
 
 

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BANK OF OKLAHOMA N.A., Lender
             
By:
  /s/ Michael M. Logan    
Name: Michael M. Logan
   
Title: Senior Vice President

 
[Third Amendment to Credit Agreement]
 
 

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RAYMOND JAMES BANK, FSB, Lender
             
By:
  /s/ Garrett McKinnon    
Name: Garrett McKinnon
   
Title: Senior Vice President

 
[Third Amendment to Credit Agreement]
 
 

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GUARANTY BANK AND TRUST COMPANY, Lender
             
By:
  /s/ Gail J. Nofsinger    
Name: Gail J. Nofsinger
   
Title: Senior Vice President

 
[Third Amendment to Credit Agreement]
 
 

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CITIBANK, N.A., Lender
             
By:
  /s/ Todd Mogil    
Name: Todd Mogil
   
Title: Vice President

 
[Third Amendment to Credit Agreement]
 
 

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BANK OF MONTREAL, Lender
             
By:
  /s/ Gumaro Tijerina    
Name: Gumaro Tijerina
   
Title: Director

 
[Third Amendment to Credit Agreement]
 
 

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CALYON NEW YORK BRANCH, Lender
             
By:
  /s/ Darrell Stanley    
Name: Darrell Stanley
   
Title: Managing Director
             
By:
  /s/ Sharada Manne    
Name: Sharada Manne
   
Title: Director

[Third Amendment to Credit Agreement]
 
 

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