Berry Petroleum Stock Delisted Following Merger Completion

The independent trading journey of Berry Petroleum shares has concluded. The company’s strategic all-stock merger with California Resources Corporation (CRC) is now final, removing its stock from public exchanges. This move consolidates significant California assets and shifts the focus entirely to the newly combined entity’s future.

Following shareholder approval, the transaction was formally completed on Thursday, December 18, 2025. The market impact was instantaneous.

By Friday, December 19, Nasdaq and options exchanges had initiated delisting procedures for Berry Petroleum securities. In its final standalone trading session prior to integration, the stock gained 2.19 percent, closing at $3.26. This price serves as the definitive valuation benchmark for converting former Berry holdings into CRC shares.

The merger unites substantial operational assets within California. The primary objective of the combined company is to enhance operational efficiency and fortify its market stance in the San Joaquin Basin, leveraging greater scale.

Part of a Broader Sector Consolidation Trend

This transaction occurs amidst a flurry of significant merger and acquisition activity within the North American energy sector in late 2025. Several other major deals were announced concurrently.

Should investors sell immediately? Or is it worth buying Berry Petroleum?

Coinciding with the Berry-CRC closure, Baytex Energy finalized the sale of its U.S. Eagle Ford assets for approximately $2.14 billion on December 20. Furthermore, on December 18, JAPEX acquired tight-oil assets from Verdad Resources in the Denver-Julesburg Basin for around $1.3 billion. This cluster of billion-dollar agreements highlights an industry-wide trend toward portfolio consolidation and strategic refocusing.

For former Berry shareholders, the merger creates a larger, more resilient organization. Analysts suggest the combined company is better positioned to navigate the complex regulatory environment specific to California’s energy market.

The Path Forward with California Resources Corporation

With the merger effective and delisting underway, investor attention now turns wholly to California Resources Corporation.

The immediate priority for the integrated management team will be operational consolidation and the realization of cost synergies, which were cited as a key rationale for the deal. Given the high level of M&A activity in the sector, market observers will closely monitor the new entity’s progress in delivering on promised efficiency gains throughout 2026.

The historical chart for Berry Petroleum (BRY) is now a record of the past. All future performance evaluation will pertain to CRC stock, which embodies the value of the former Berry assets.