California Resources To Double Oil Output in $2.1B Aera Deal ...Middle East

California’s largest oil company, California Resources Corp. (OTCPK:CRCQW), has announced it will buy Aera Energy in a $2.1 billion deal, including debt, as the oil and gas company looks to more than double its production.  According to California Resources, the merged company will own interests in five of the largest oil fields in California adding that its 2024 production is estimated to average 150,000 barrels of oil equivalent (boe) per day. The company has revealed that the deal will also unlock significant…

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