California Resources Corporation Announces All-Stock Combination with Berry Corporation

CRC agrees to buy rival Berry Corp.

Kern County's oil industry saw its biggest business deal in more than a year Monday as California's largest petroleum producer announced it will buy a local rival in an all-stock transaction expected to close early next year.

California oil merger set to benefit from permitting boom

California Resources Corporation, which is set to take over rival oil driller Berry Corp, stands to benefit from state legislation that would make it easier to drill.

California Oil Merger Advances as State Clears Path to Drill

The bill marks a sharp shift from years of regulatory scrutiny by the state’s lawmakers toward its oil and gas industry and decades of declining in-state crude production.

California Oil Merger Set to Benefit From Well Permitting Boom

California Resources Corporation, which is set to take over rival oil driller Berry Corp, stands to benefit from state legislation that would make it easier to drill.

California Resources Corporation Announces All-Stock Combination with Berry Corporation

California Resources Corporation Announces All-Stock Combination with Berry Corporation...

California Resources Corporation announces all-stock combination with Berry Corporation – Oil & Gas 360

(Oil & Gas 360) – LONG BEACH, Calif. and DALLAS, Sept. 15, 2025 (GLOBE NEWSWIRE) — California Resources Corporation (NYSE: CRC) (“CRC”) and Berry Corporation (NASDAQ: BRY) (“Berry”) jointly announced today their entry into a definitive agreement to combine in an all-stock transaction valuing Berry at approximately $717 million, inclusive of Berry’s net debt1. Under the terms of the merger agreement, existing CRC shareholders are expected to own a