'The combination of CRC and Berry will create a stronger, more efficient California energy leader. 'By realizing substantial corporate and operating synergies, we expect to significantly lower costs and generate higher free cash flow. As a result of this combination, CRC will also own C&J Well Services, a California-focused oilfield services subsidiary of Berry. As a result of this combination, CRC will also own C&J Well Services, a California-focused oilfield services subsidiary of Berry. Following the close of the transaction, CRC will provide additional financial and operating guidance for the combined company.