California Resources completes acquisition of Berry Corp, BRY shares delisted from Nasdaq
California Resources Corporation has completed its acquisition of Berry Corp, resulting in Berry Corp becoming a wholly owned subsidiary and its shares being delisted from Nasdaq. The transaction involved an exchange of Berry Corp stock for California Resources common stock at a fixed ratio. Berry Corp's directors and officers have resigned, and the company plans to suspend its reporting obligations to the SEC.
California Resources (CRC) Completes Merger with Berry Corporation
California Resources Corporation (CRC) has finalized its all-stock merger with Berry Corporation, announced on December 18, 2025, strengthening its oil and gas portfolio and adding strategic options in the Uinta basin. Berry shareholders received approximately 5.6 million shares of CRC, valuing the deal at $253 million. This merger is expected to generate $80–90 million in annual synergies within a year, enhancing CRC's operational momentum and shareholder value.
Berry Petroleum (BRY) Options to Be Delisted in December
Berry Petroleum (BRY) options will be delisted effective December 19th, impacting trading strategies for investors. The company, Berry Corp, focuses on conventional oil reserves in California and faces financial challenges including negative earnings and a distressed Altman Z-Score. Despite these issues, institutional ownership is high, and valuation metrics suggest potential undervaluation.
Berry (NASDAQ:BRY) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened
Berry Corporation's (NASDAQ:BRY) share price recently rose above its 200-day moving average, trading at $3.27 on heavy volume. Despite this technical signal, analysts maintain a cautious "Reduce" rating with an average target price of $4.00, reflecting recent mixed rating changes and the company's missed quarterly EPS and revenue estimates. Berry, an independent energy company, still offers a 3.7% dividend yield and is heavily owned by institutional investors.
Berry Corporation (NASDAQ: BRY) closes merger with California Resources and ends Nasdaq listing
Berry Corporation (BRY) has completed its merger with California Resources Corporation, making Berry a wholly-owned subsidiary of California Resources. As a result, Berry's common stock has been delisted from the Nasdaq Global Select Market, and its credit facilities were terminated and fully repaid. Berry plans to deregister its shares and suspend its SEC reporting obligations, with former Berry stockholders now holding California Resources common stock.
Berry Corp Announces Resignation of Directors and Officers
Berry Corp (BRY) announced the resignation of all its directors and several officers on December 18, 2025, as part of a merger agreement. The company stated that these resignations were not due to any disagreements. The announcement lists ten individuals who have either resigned or ceased service, along with their roles and the effective date of their departure.
California Resources (NYSE: CRC) closes Berry merger and lifts credit line
California Resources Corporation (NYSE: CRC) has completed its all-stock merger with Berry Corporation, making Berry a wholly-owned subsidiary of CRC. As part of the merger, CRC also amended its credit agreement, increasing its aggregate elected commitment from $1.45 billion to $1.46 billion. Berry's common stock was converted into CRC common stock at an exchange ratio of 0.0718 shares of CRC for each Berry share, and Berry's equity awards were either cashed out or converted into CRC restricted stock units.
California Resources closes all-stock combination with Berry Corp.
California Resources Corporation has finalized its all-stock combination with Berry Corporation, enhancing its position as a leading conventional oil and gas producer in California. The deal, valued at approximately $253 million, involved Berry shareholders receiving 5.6 million shares of California Resources common stock. This acquisition expands California Resources' portfolio, aiming to improve cash-flow durability and operational efficiencies while providing strategic optionality through Berry’s Uinta basin assets.
California Resources completes all-stock acquisition of Berry Corp
California Resources Corporation has completed its all-stock acquisition of Berry Corporation, valued at approximately $253 million. This strategic move enhances CRC's portfolio, adding Berry's stable operational profile and operations in Utah’s Uinta Basin, and is expected to improve cash flow durability and operating efficiencies for the combined entity. The acquisition reinforces CRC's position in California’s San Joaquin Basin and supports its focus on energy transition and environmental stewardship.
Berry Corporation (BRY) and California Resources Finalize Merger
California Resources Corporation (CRC) has completed an all-stock merger with Berry Corporation (BRY), significantly bolstering its asset portfolio in California and expanding into the Uinta basin. The integration aims to enhance cash flow stability and operational efficiencies, with former Berry shareholders receiving approximately 5.6 million shares of CRC stock. While the merger presents strategic growth opportunities for CRC, Berry Corporation's financial health shows challenges including a negative net margin and an Altman Z-Score indicating potential bankruptcy risk.
California Resources closes all-stock combination with Berry Corp.
California Resources Corporation (CRC) has completed its all-stock merger with Berry Corporation, strengthening its position as a leading oil and gas producer in California. The deal, valued at approximately $253 million, grants Berry shareholders 5.6 million shares of CRC. This combination is expected to enhance cash flow durability, improve operating efficiencies in the San Joaquin basin, and provide strategic optionality through Berry’s Uinta basin assets.
Berry Announced Transfer or Voluntary Withdrawal of Listing
Berry Corporation announced that it notified Nasdaq on December 18, 2025, requesting withdrawal of its listing in connection with a merger. Trading of BRY stock ceased prior to market open on that date, and the company plans to file a Form 15 to suspend its reporting obligations. Nasdaq subsequently filed a Form 25 to delist and deregister the common stock.
Berry Stockholders Approve Combination with CRC
Berry Corporation (BRY) stockholders have approved a combination with California Resources Corporation (CRC). Under the merger agreement, Berry stockholders will receive 0.0718 shares of CRC common stock for each Berry share. The transaction, supported by approximately 73% of outstanding shares, is expected to close on December 18, 2025.
Berry Corporation (BRY) Stockholders Approve Merger with Califor
Berry Corporation stockholders have approved the merger with California Resources Corporation (CRC), with 98% of shares voted in favor. The merger is slated for completion on December 18, 2025, with Berry stockholders receiving 0.0718 shares of CRC for each Berry share. This strategic move aims to integrate Berry's focus on conventional oil reserves in the San Joaquin basin with CRC's operations.
Berry Stockholders Approve Combination with CRC
Berry Corporation (BRY) stockholders have approved the combination with California Resources Corporation (CRC), with approximately 73% of outstanding shares and 98% of shares voted in favor. Under the merger agreement, Berry stockholders will receive 0.0718 shares of CRC common stock for each Berry share. The transaction is expected to close on December 18.
Prudential Financial Inc. Purchases 391,688 Shares of Berry Corporation $BRY
Prudential Financial Inc. significantly increased its stake in Berry Corporation (NASDAQ:BRY) by 91.6% in the second quarter, acquiring an additional 391,688 shares and bringing its total holdings to 819,235 shares, valued at approximately $2.27 million. Berry Corporation has faced challenges, missing quarterly earnings expectations and operating with a negative net margin of 12.42%. The company currently trades near $3.44, has a market capitalization of $266.98 million, and analysts have a mixed-to-negative outlook with an average "Reduce" rating and a $4 target.
SHAREHOLDER RIGHTS ALERT: Halper Sadeh LLC Investigates PINC, BFIN, BRY, BLBX on Behalf of Shareholders - Barchart.com
Halper Sadeh LLC is investigating several companies, including Premier, Inc. (PINC), BankFinancial Corporation (BFIN), Berry Corporation (BRY), and Blackboxstocks Inc. (BLBX), for potential violations of federal securities laws and breaches of fiduciary duties related to their recent sales or mergers. The investor rights law firm encourages shareholders of these companies to contact them to discuss their legal rights and options, including seeking increased consideration or additional disclosures. Halper Sadeh LLC operates on a contingent fee basis, meaning shareholders would not incur out-of-pocket legal fees or expenses.
CRC to Acquire Oil Rival
Long Beach-based California Resources Corp. (CRC) is set to acquire Dallas-based Berry Corp. in an all-stock transaction valued at $717 million, further solidifying CRC's position as California's largest oil producer. This acquisition, which follows CRC's purchase of Aera Energy last year, is expected to bring significant synergies, particularly in Kern County where both companies have substantial operations, and is bolstered by recent legislative changes favorable to in-state oil production and carbon management.
Berry Corporation Publishes 2025 Sustainability Report
Berry Corporation (BRY) announced the publication of its 2025 Sustainability Report, detailing its 2024 performance and commitment to long-term stakeholder value. The report highlights expanded disclosures, alignment with SASB and TCFD, and significant progress in emissions reduction and climate strategy. Berry achieved a nearly 50% reduction in Scope 1 methane emissions from a 2022 baseline and increased recycled water usage to 47% in 2024.
Now That California Resources Corp. Will Buy Rival Berry Corp., It's Time for Newsom to Demand Full Bonding to Avoid Taxpayers Holding the Bag, says Consumer Watchdog
Consumer Watchdog is urging California Governor Newsom to demand full bonding from California Resources Corp. (CRC) following its acquisition of Berry Corp. This is crucial to prevent taxpayers from bearing the costs of plugging and remediating oil wells. The organization cites past failures by regulators to adequately bond CRC after its acquisition of Aera Energy, which could leave taxpayers responsible for billions in environmental cleanup costs.
California Resources and Berry Corp to combine in an all-stock deal
The article reports that California Resources and Berry Corp have agreed to an all-stock combination. This strategic move aims to merge the two companies, indicating a significant development in their respective market positions and operational strategies. The deal will be executed using only stock, suggesting a merger of equals or a strategic alignment without cash exchange.
California Resources, Energy Company Berry To Merge In An All-Stock Deal
California Resources Corp and Berry Corp announced an all-stock merger valued at approximately $717 million, including Berry's net debt. Existing CRC shareholders will own about 94% of the combined company, which is expected to close in Q1 2026. The merged entity anticipates producing 161,000 barrels of oil equivalent per day and achieving $80 million to $90 million in annual synergies.
California Resources to acquire Berry Corp in $717M all-stock deal (BRY:NASDAQ)
Berry Corporation (BRY) shareholders saw their stock jump after the company announced an all-stock merger with California Resources (CRC). The deal values Berry at approximately $717 million, including debt, with Berry shareholders receiving 0.0718 CRC shares per share. The acquisition is expected to create a larger, more diversified energy company.
California Resources to acquire Berry Corp in $717 million deal
California Resources Corporation announced it will acquire Berry Corporation in an all-stock transaction valued at approximately $717 million, including Berry’s net debt. The deal, expected to close in Q1 2026, will create a larger California energy producer with combined second-quarter 2025 production of approximately 161,000 barrels of oil equivalent per day, and is projected to generate $80-90 million in annual synergies. Berry shareholders will receive 0.0718 shares of CRC common stock for each Berry share, representing a 15% premium.
California Resources Corporation Announces All-Stock Combination with Berry Corporation
California Resources Corporation (CRC) and Berry Corporation (BRY) have announced an all-stock combination valued at approximately $717 million, inclusive of Berry’s net debt. This merger is expected to create a more efficient California energy leader, with significant synergies projected to reach $80-90 million annually. The combined company will enhance CRC’s portfolio with Berry’s high-quality oil-weighted assets and improve its financial strength and flexibility, with the transaction anticipated to close in the first quarter of 2026.
CRC, Berry agree to merge amid ‘improving’ California landscape
California Resources Corp. (CRC) and Berry Corp. have agreed to an all-stock merger valued at $717 million, driven by an "improving permitting backdrop" in Kern County, California. The merger creates a company with an estimated 161,000 boe/d production as of Q2 2025 and 652 MMboe proved reserves by year-end 2024. The deal is expected to achieve $80-90 million in annual synergies and is supported by recently passed Senate Bill 237, which codifies Kern County's ability to issue 2,000 new drill permits annually.
Berry Corporation: California Regulatory Situation Looking More Positive (NASDAQ:BRY)
Berry Corporation's lease operating expenses per BOE were 6% below guidance midpoint in H1 2025, which is expected to improve further with increased production in H2 2025. The company is benefiting from a more favorable regulatory environment in California. Despite projected H2 2025 free cash flow exceeding $50 million, Berry's debt burden remains a significant concern.
Berry Bolts On More California Assets as Kern County M&A Continues
Berry Corp. expanded its California assets by acquiring "highly synergistic" working interest in Kern County, financing the $30 million deal with a reserve-based loan. This move is part of Berry's strategy to extend its production runway amidst drilling permit halts in California, although the company is also looking for growth opportunities outside the state. The article also highlights continued M&A activity in Kern County, including California Resources Corp.'s acquisition of Aera Energy for $2.1 billion.
Berry wins auction for C&J Well Services with $43 million bid
Berry Corp., a Kern County oil producer, acquired C&J Well Services for $43 million from Basic Energy Services Inc.'s bankruptcy case. This acquisition significantly boosts Berry's workforce and positions the company to pursue state contracts for plugging orphan and idle wells in California, aligning with the state's climate goals. C&J Well Services, with its expertise in well abandonment, will help Berry manage its own wells and potentially expand into the broader market for addressing abandoned wells, estimated to be a $6 billion need in California.
Berry Petroleum Corporation Announces Launch of Initial Public Offering
Berry Petroleum Corporation announced the launch of its initial public offering (IPO) of common stock, offering 12,198,013 shares, with selling stockholders offering an additional 6,551,987 shares. The company plans to use a portion of the proceeds to repurchase shares from affiliated funds. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol "BRY" with an initial offering price between $15.00 and $17.00 per share.
LINN Energy and LinnCo to Acquire Berry Petroleum Company for $4.3 Billion
LINN Energy, LLC and LinnCo, LLC announced a definitive merger agreement to acquire Berry Petroleum Company for $4.3 billion, including assumed debt. This transaction marks the first-ever acquisition of a public C-Corp by an upstream LLC or MLP, expected to be tax-free for Berry shareholders. The acquisition aims to significantly increase LINN's production, reserves, and liquids exposure, while being highly accretive to distributable cash flow per unit, with anticipated distribution and dividend increases for both LINN and LinnCo.
