{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-173343","form_type":"8-K","ticker":"CRC","cik":"0001609253","company_name":"California Resources Corp","filed_at":"2024-07-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:13.759812+00:00","generated_at":"2026-06-01T00:01:33.776701+00:00","sec_items":["1.01","2.01","2.02","2.03","3.02","5.02","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"CRC closes Aera Energy acquisition; issues 21.3M shares worth ~$1.13B","bullets":["Combination creates California's leading energy producer/CMS provider; $150M annual synergies targeted within 15 months.","Pro forma Apr-May net production averaged 146 Mboe/d (79% oil); 2H24 guidance: 140-146 Mboe/d, capex $170-$210M.","Credit facility increased: borrowing base $1.2B to $1.5B, commitments $630M to $1.1B; Aera's prior facilities repaid.","Bobby Saadati (IKAV) and James Jackson (CPPIB) appointed to CRC board; director Nicole Neeman Brady resigned.","Acquisition funded entirely with stock; former Aera owners received 21.3M CRC shares valued at $1,134M at June 28 close."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-173343","json":"https://secwatch.observer/filing/0001193125-24-173343.json","markdown":"https://secwatch.observer/filing/0001193125-24-173343.md","text":"https://secwatch.observer/filing/0001193125-24-173343.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/0001193125-24-173343-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/d845209d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T00:01:33.776701+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2b4cbaa05e","claim":"Nicole Neeman Brady resigned as director at California Resources Corp.","evidence_excerpt":"On June 28, 2024, Ms. Nicole Neeman Brady notified CRC of her intent to resign from the Board effective as of July 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/0001193125-24-173343-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"d7c1f04fa6","claim":"James Jackson was appointed as director at California Resources Corp.","evidence_excerpt":"Effective July 1, 2024, pursuant to the terms of the Stockholder Agreements, our Board of Directors (the “ Board ”) appointed Bobby Saadati and James Jackson as directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/0001193125-24-173343-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"f0c681dca8","claim":"Bobby Saadati was appointed as director at California Resources Corp.","evidence_excerpt":"Effective July 1, 2024, pursuant to the terms of the Stockholder Agreements, our Board of Directors (the “ Board ”) appointed Bobby Saadati and James Jackson as directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/0001193125-24-173343-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"b15d7649025827326f8c6393ed48420ed1354e55","claim":"California Resources Corp completed an acquisition involving IKAV Energy Inc., IKAV Impact S.a.r.l., Simlog Inc., Oaktree Huntington Investment Fund II AIF (Delaware), L.P. – Class C, Oaktree Huntington Investment Fund II AIF (Delaware), L.P. – Class G, OCM Opps XI AIV Holdings (Delaware), L.P., OCM Opps Xb AIF Holdings (Delaware), L.P., OCM Aera E Holdings, for 21,315,707 shares of common stock of CRC (closed 2024-07-01).","evidence_excerpt":"CRC completed the Transaction through a series of mergers of CRC merger subsidiaries and holding companies of the Aera Companies and issued to the Sellers consideration of 21,315,707 shares of common stock of CRC, par value $0.01 per share (“ Common Stock ”). -3- The foregoing description of the Transaction and the Merger Agreement contained in this Item 2.01","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000119312524173343/0001193125-24-173343-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"IKAV Energy Inc., IKAV Impact S.a.r.l., Simlog Inc., Oaktree Huntington Investment Fund II AIF (Delaware), L.P. – Class C, Oaktree Huntington Investment Fund II AIF (Delaware), L.P. – Class G, OCM Opps XI AIV Holdings (Delaware), L.P., OCM Opps Xb AIF Holdings (Delaware), L.P., OCM Aera E Holdings,"},{"label":"Consideration","value":"21,315,707 shares of common stock of CRC"},{"label":"Closing","value":"2024-07-01"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}