California Resources Corporation (CRC) completes merger with Berry Corporation, strengthening its oil and gas portfolio in California and adding strategic optionality in the Uinta basin. The deal valued at around $253 million with approximately 5.6 million shares of CRC common stock issued to Berry’s former shareholders.

CRC expands into carbon management by signing an MoU with Middle River Power to provide carbon transportation and sequestration services for power facilities in Northern California. This strategic agreement marks CRC’s first move in providing carbon management services for a brownfield power facility.

CEO Francisco Leon expresses confidence in CRC’s future, stating that the company is entering 2026 stronger than ever. The merger with Berry Corporation adds high-quality assets in the San Joaquin Basin, enhances cash flow durability, and aims to deliver sustainable shareholder value.

Read more at Yahoo Finance: California Resources (CRC) Completes Merger with Berry Corporation