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California State Legislature (SB 237)

California State Legislature (SB 237)

State lawmaking body

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CRC buys Berry, builds a bigger California oil empire—while betting on carbon storage as the second act

Money Moves

Passed and chaptered SB 237, reshaping fuel-supply and permitting politics

The CRC–Berry all-stock combination is now in the paperwork-and-plumbing phase. CRC's post-close 8-K confirms Berry is a wholly owned subsidiary and discloses an amendment raising CRC's elected credit-facility commitments to $1.46 billion. CRC has 71 days to publish pro forma financials for the combined company.

Updated Yesterday