加州资源以7.17亿美元的全股票交易收购Berry Corp

Shares of Berry Corporation (NASDAQ:BRY) jumped on Monday after the company announced it will merge with California Resources (NYSE:CRC) in an all-stock deal valuing Berry at approximately $717 million, including debt.

Berry (NASDAQ:BRY) shareholders will receive 0.0718 CRC shares for each BRY share, a 15% premium based on September 12 closing prices, valuing the combined company at over $6 billion. Berry Corporation (BRY) shares are up +12.39% pre-market at $3.72. California Resources down marginally.

Under the terms of the merger agreement, existing CRC shareholders (NYSE:CRC) are expected to own approximately 94% of the combined company upon closing.

The transaction is expected to add high-quality, oil-weighted, mostly conventional proved developed reserves and sustainable cash flow to California Resources (NYSE:CRC).

On a pro forma basis, the combined company would have produced about 161 thousand barrels of oil equivalent per day (Mboe/d) (81% oil) in the second quarter of 2025 and would have held approximately 652 million barrels of oil equivalent (MMboe) proved reserves (87% proved developed) as of year-end 2024.

As a result of this combination, CRC will also own C&J Well Services, a California-focused oilfield services subsidiary of Berry.

The oil and gas giant also anticipates substantial synergies from the deal, expecting to realize $80–90 million in annual savings within 12 months of closing—about 12% of the transaction’s total value.

The synergies are expected to primarily come through corporate synergies, lower interest costs through debt refinancing, operating improvements, and supply chain efficiencies.