California Resources Expands Asset Base with Berry Merger Completion

California Resources Corporation has completed its all-stock merger with Berry Corporation, expanding its asset base and portfolio. The deal adds high-quality, long-lived conventional assets in the San Joaquin Basin and provides strategic optionality in the Uinta Basin. CRC expects $80-$90 million in annual synergies within 12 months and plans to share full-year 2026 guidance with its year-end earnings release.