One-Page Deal Sheet
California Resources Corporation Acquires Berry Corporation in All-Stock Merger for $717MM
California Resources Corp. Berry Corporation
Announced Date
September 15,2025
Close Date
December 18,2025
Transaction Type
Corporate
Location
Country
United States
State
Utah
Play
Production & Reserves Production
Production Mix
Reserves
Transaction Details: Subscribe to see
California Resources Corporation (NYSE: CRC) announced a definitive agreement to acquire Berry Corporation (NASDAQ: BRY) in an all-stock merger under which Berry shareholders received 0.0718 shares of CRC common stock for each share of BRY held, representing total enterprise value of approximately $717 million including net debt. Berry's 2024 production averaged 25,400 Boe/d (93% oil) across approximately 20,000 net acres in the San Joaquin Basin in California and the Uinta Basin in Utah. Berry carried 107 MMBoe of proved reserves as of January 3, 2025 (DeGolyer & MacNaughton) with a…
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