California Resources Corp. (CRC) has agreed to sell its Uinta basin assets to an undisclosed buyer for approximately $90 million in cash, further concentrating the company’s upstream portfolio in California.The assets were acquired through CRC’s merger with Berry Corp. and are considered non-core to the company’s operations. The transaction has an effective date of July 1, 2026, and is expected to close by year-end, subject to third-party consents and customary closing conditions.“Today’s transaction strengthens our business. The monetization of our Uinta basin assets sharpens our focus on California and captures additional value from the Berry merger,” said Francisco Leon, CRC president and CEO.CRC said the divestiture will provide additional capital allocation flexibility for investments in California while supporting its shareholder return strategy. The company also expects the sale proceeds to help offset the purchase price of its recent midstream transaction.Net proceeds from the Uinta sale are expected to be used for shareholder returns and other corporate purposes.CRC expects to provide additional financial and operating guidance following completion of the transaction.