Berry Corporation (Bry) (BRY) News & EventsBRYBerry Corporation (Bry)

California Resources Completes All-Stock Merger with Berry Corporation

California Resources (CRC) closed its all-stock combination with Berry Corporation (BRY). The transaction enhances CRC's premier California portfolio of long-lived, low-decline conventional assets with significant development upside and adds strategic optionality in the Uinta basin. "CRC is entering 2026 stronger than ever, ready to build on our operational momentum and deliver meaningful synergies for our shareholders," said Francisco Leon, CRC's President and Chief Executive Officer. "This transaction adds high-quality assets in our core San Joaquin Basin and enhances cash flow durability and operating efficiencies as we build a stronger, more durable platform aimed to deliver sustainable shareholder value." Under the terms of the definitive agreement, Berry's former equity holders received approximately 5.6 million shares of CRC common stock, having an approximate aggregate value of $253 million based on CRC's closing share price on December 17, 2025.

Berry Corporation Shareholders Approve Merger with California Resources

Berry Corporation (BRY) announced that, at its Special Meeting of Stockholders held Monday, Berry stockholders voted to approve its combination with California Resources Corporation (CRC). As previously announced, under the terms of the merger agreement, Berry stockholders will receive a fixed exchange ratio of 0.0718 shares of CRC common stock for each share of Berry common stock. According to preliminary results, Berry stockholders approved the transaction with approximately 73% of the total shares outstanding and approximately 98% of the shares voted in support of the combination. The closing of the transaction is expected to occur on December 18.

Berry Corporation announces Q3 adjusted earnings per share of 8 cents, surpassing consensus estimate of 6 cents.

Reports Q3 revenue $128M vs. $154M last year. Produced 23.9 thousand barrels of oil equivalent per day. The company said, "Due to the pending merger with CRC, Berry has discontinued providing guidance. Accordingly, investors are cautioned not to rely on historical forward-looking statements as those forward-looking statements were the estimates of management only as of the date provided and were subject to the specified risks and uncertainties that accompanied such forward-looking statements."