Zacks Investment ResearchSep 2, 2026, 2:03 PM
California Resources Completes $63M Acquisition of Crimson Midstream
California Resources Corporation (CRC) has completed its $63 million acquisition of Crimson Midstream Holdings from CorEnergy Infrastructure Trust. The deal expands CRC's midstream infrastructure in California, providing greater control over oil transportation to higher-value markets and improving operational flexibility. CRC is also evaluating Crimson's pipeline corridors for potential CO2 transportation as part of its carbon management strategy. Near-term financial contribution is expected to be modest, with Q3 2026 G&A and capital expenses estimated at $1-2 million each.
