{"schema_version":"secwatch.filing_event.v1","accession":"0001609253-24-000018","form_type":"8-K","ticker":"CRC","cik":"0001609253","company_name":"California Resources Corp","filed_at":"2024-02-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.798724+00:00","generated_at":"2026-06-06T07:05:14.572363+00:00","sec_items":["7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"CRC to acquire Aera Energy in $2.1B all-stock merger; pro forma production ~150 MBoe/d","bullets":["Deal values Aera at ~$2.1B; CRC issues 21.2M shares (22.9% fully diluted) to Aera owners IKAV (51%) and CPP Investments (49%).","Immediately accretive: 45% improvement to operating cash flow per share, 90% to free cash flow per share on 2024E estimates.","Pro forma production ~150 MBoe/d (76% oil); proved reserves ~680 MMBoe; $150M annual synergies expected within 15 months.","CRC increases share repurchase program to $1.35B, extends through 2025; expects to raise quarterly dividend post-closing.","Expands carbon management; close expected H2 2024; IKAV and CPP Investments each nominate one CRC board member."],"urls":{"canonical":"https://secwatch.observer/filing/0001609253-24-000018","json":"https://secwatch.observer/filing/0001609253-24-000018.json","markdown":"https://secwatch.observer/filing/0001609253-24-000018.md","text":"https://secwatch.observer/filing/0001609253-24-000018.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609253/000160925324000018/0001609253-24-000018-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609253/000160925324000018/crc-20240207.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T07:05:14.572363+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}