California Resources Corporation Acquires Crimson Midstream Holdings
September 4, 2026
California Resources Corporation (CRC) completed its approximately $63 million all-cash acquisition of Crimson Midstream Holdings from CorEnergy Infrastructure Trust. The deal was approved by the California Public Utilities Commission on August 13, 2026 and closed September 1. CRC said Crimson’s midstream network expands its integrated California energy platform and strengthens its ability to move locally produced oil to higher-value markets while adding pipeline corridors that could support future CO2 transportation infrastructure.
- Buyers
- California Resources Corporation
- Targets
- Crimson Midstream Holdings
- Sellers
- CorEnergy Infrastructure Trust
- Industry
- Oil & Gas
- Location
- California, United States
- Transaction Type
- Buyout
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