California Resources entered into the Eighth Amendment to its Amended and Restated Credit Agreement to support the closing of its merger with Berry. The amendment, signed with Citibank as administrative and collateral agent and the lending syndicate, became effective at merger closing and adds an additional lender. It also increases the aggregate elected commitments from $1.45 billion to $1.46 billion, enhancing liquidity and flexibility post-transaction.

Agreement details:

Agreement type: Eighth Amendment to Amended and Restated Credit Agreement
Counterparty: Citibank, as administrative agent, and other lenders
Signed / Effective: Dec 15 2025 / Dec 18 2025
Reason: Facilitate Berry merger closing and enhance liquidity

Original SEC Filing: California Resources Corp [ CRC ] - 8-K - Dec. 18, 2025

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California Resources Signs Credit Agreement Amendment With Citibank and Lenders