California Resources Closes Berry Merger, Expands Asset Base
CRC closes its all-stock merger with Berry, adding scale, synergies and cash flow durability as it strengthens its position in California.
| Ticker |
BRY
|
| CIK | 0001705873 |
| SIC | 1311 |
| Sector | Mining |
| Industry Category | Petroleum And Natural Gas |
| Industry Group | Crude Petroleum & Natural Gas |
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California Resources Closes Berry Merger, Expands Asset BaseCRC closes its all-stock merger with Berry, adding scale, synergies and cash flow durability as it strengthens its position in California. CRC closes Berry acquisitionMid-size Kern County oil producer Berry Corp. became part of rival California Resources Corp. on Thursday, further consolidating local oil-field operations amid expectations that a challenging period for the state’s petroleum industry is nearing an end. The deal’s closure followed just over three months after the $717 million, all-stock transaction was announced, and just three days after ... California Resources Corporation Closes Combination with Berry CorporationLONG BEACH, Calif., Dec. 18, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) (“CRC”) today closed its all-stock combination with Berry Corporation (bry) (NASDAQ: BRY) (“Berry”). The transaction enhances CRC’s premier California portfolio of long-lived, low-decline conventional assets with significant development upside and adds strategic optionality in the Uinta basin. “CRC is entering 2026 stronger than ever, ready to build on our operational momentum and deliver meaningfu Berry shareholders vote to approve acquisition by CRCA majority of Berry Corp. shareholders voted Monday to approve the Kern County oil producer’s acquisition by a larger local rival, clearing the way for the $717 million deal to close as soon as Thursday. Holders of almost 98% of the nearly 57.6 million shares represented at Monday’s virtual meeting voted in favor of the transaction. Individuals with shares totaling about 2% of voters were ... Sector Update: Energy Stocks Decline Late AfternoonEnergy stocks were lower late Monday afternoon, with the NYSE Energy Sector Index down 0.8% and the |