Brief: California Resources Corporation Announces All-Stock Combination With Berry Corporation

Berry (Bry)

15/09/2025 13:18

Sept 15 (Reuters) - California Resources Corporation CRC.N:

CALIFORNIA RESOURCES CORPORATION ANNOUNCES ALL-STOCK COMBINATION WITH BERRY CORPORATION

CALIFORNIA RESOURCES : UNDER TERMS OF MERGER AGREEMENT, EXISTING CRC SHAREHOLDERS ARE EXPECTED TO OWN ABOUT 94% OF COMBINED COMPANY UPON CLOSING

CALIFORNIA RESOURCES : BERRY SHAREHOLDERS WILL RECEIVE A FIXED EXCHANGE RATIO OF 0.0718 SHARES OF CRC COMMON STOCK FOR EACH SHARE OF BRY COMMON STOCK

CALIFORNIA RESOURCES : COMBINED CO WOULD HAVE PRODUCED ABOUT 161 THOUSAND BARRELS OF OIL EQUIVALENT PER DAY (MBOE/D) (81% OIL) IN Q2 PRO FORMA BASIS

CALIFORNIA RESOURCES CORP: PROPOSED DEAL FOR ABOUT $717 MILLION

Source text: ID:nGNXbMGySQ

Further company coverage: CRC.N

 ((Reuters.Briefs@thomsonreuters.com;))