Tracked deals
6
6 tracked deals across 2021-2026.
Oil & Gas Buyers & Acquisitions in California
Buyer mix
Strategic-led
6 strategic · 1 pe
Top trend
Volume peaked in 2026
2 tracked deals announced in 2026.
Primary Insight
What Stands Out
- California Resources Corporation has completed major California combinations and purchases, including an acquisition of Crimson Midstream Holdings and a combination with Aera Energy, LLC.
- Infrastructure and logistics show up in both regulated midstream plays (pipeline corridors) and service-layer expansions (maintenance, compliance, and equipment installation).
- Downstream footprint growth is reflected in acquisitions like RelaDyne buying Dion and Sons, and Renewable Energy Group, Inc. acquiring Amber Resources (dba Sawyer Petroleum) and affiliates.
- Private-capital-backed platforms appear through Nwestco, LLC (with Guardian Capital Partners) expanding petroleum services capabilities in Northern California.
| Recurring buyer | Typical focus in California deals |
|---|---|
| California Resources Corporation | Integrated producer + carbon management and midstream expansion |
| CorEnergy Infrastructure Trust, Inc. | Regulated midstream pipeline assets |
| RelaDyne | West Coast distribution and reliability services |
| Nwestco, LLC | Turnkey petroleum services add-ons |
| Renewable Energy Group, Inc. | Downstream fuel and lubricants footprint |
| Guardian Capital Partners | Platform ownership for petroleum services |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| California Resources Corporation | 2 | Independent energy company focused on oil and gas product... | Strategic |
| CorEnergy Infrastructure Trust, Inc. | 1 | Publicly-listed REIT that owns and operates energy infras... | Strategic |
| Guardian Capital Partners | 1 | Private investment firm focused on niche manufacturing, b... | PE |
| Nwestco, LLC | 1 | Provider of fuel and car wash equipment maintenance, comp... | Strategic (PE-backed) |
| RelaDyne | 1 | National distributor of lubricants, fuel, diesel exhaust ... | Strategic (PE-backed) |
| Renewable Energy Group, Inc. | 1 | Public producer of renewable fuels (biodiesel/renewable d... | Strategic |
Acquisition Volume in Oil & Gas in California by Year
Last 5 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
September 4, 2026
- Buyer
- California Resources Corporation
- Target
- Crimson Midstream Holdings
- Seller
- CorEnergy Infrastructure Trust
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Buyout
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.
-
February 7, 2026
- Buyer
- RelaDyne
- Target
- Dion and Sons
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Addon
RelaDyne has acquired Dion and Sons, a Southern California petroleum distributor and provider of industrial reliability services with seven facilities across the region. The deal expands RelaDyne's West Coast footprint and strengthens its product and service offerings in fuel, lubricants, DEF, and reliability services.
-
February 28, 2025
- Buyer
- Nwestco, LLC, Guardian Capital Partners
- Target
- Gettler-Ryan Inc.
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Addon
Nwestco, a Guardian Capital Partners portfolio company, has acquired Gettler-Ryan Inc., a turnkey provider of petroleum services based in Dublin and Sacramento, California. The add-on expands Nwestco's capabilities and footprint in Northern California, enabling combined resources to deliver enhanced fuel and car wash equipment maintenance, compliance, and installation services to retail and industrial customers.
-
- Buyer
- California Resources Corporation
- Target
- Aera Energy, LLC
- Seller
- IKAV Energy Inc., Canada Pension Plan Investment Board, Oaktree Capital Management, LP
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Buyout
California Resources Corporation (CRC) completed an all-stock combination with Aera Energy, LLC, creating a larger California-focused oil producer and carbon management platform. The transaction issued 21.3 million CRC shares to Aera's former equity owners (IKAV, CPPIB and Oaktree), produces pro forma net daily output of ~146 Mboe/d, and CRC expects $150 million in annual synergies within 15 months.
-
January 4, 2022
- Buyer
- Renewable Energy Group, Inc.
- Target
- Amber Resources, LLC (dba Sawyer Petroleum), M.O. Dion & Sons, Amber Petroleum Products
- Seller
- Matt Cullen
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Buyout
Renewable Energy Group, Inc. (REG) has acquired Amber Resources, LLC (dba Sawyer Petroleum) and affiliated entities M.O. Dion & Sons and Amber Petroleum Products, expanding REG's downstream footprint in Southern California. The acquisition adds over 60 million gallons/year of diesel sales, a significant lubricants business (Shell Prestige distributor), eight locations including three cardlock sites, and is expected to be immediately accretive.
-
February 4, 2021
- Buyer
- CorEnergy Infrastructure Trust, Inc.
- Target
- Crimson Midstream Holdings, LLC
- Seller
- Owners of Crimson Midstream Holdings, LLC (including founder John Grier)
- Industry
- Oil & Gas
- Location
- California, United States
- Type
- Buyout
CorEnergy Infrastructure Trust, Inc. agreed to acquire Crimson Midstream Holdings, LLC's California crude oil pipeline systems in a transaction valued at approximately $350 million. The deal expands CorEnergy's regulated midstream footprint across roughly 1,800 miles of pipeline, funded with cash, new borrowings, equity commitments and the contribution of the Grand Isle Gathering System to the sellers.
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Frequently Asked Questions
What kinds of oil & gas acquisitions are happening in California?
Recent deals in California cover midstream pipeline systems, downstream fuel distribution, and petroleum services and reliability offerings—often expanding an existing footprint within the state.
Which buyers appear repeatedly in these California transactions?
Notable recurring buyers include California Resources Corporation, CorEnergy Infrastructure Trust, Inc., RelaDyne, Renewable Energy Group, Inc., Nwestco, LLC (with Guardian Capital Partners), and Renewable Energy Group, Inc.
Are there midstream-focused acquisitions in California?
Yes. Transactions include expansion of California crude oil pipeline systems and midstream networks intended to support moving locally produced oil to higher-value markets.
Do the deals include downstream or services companies?
Yes. Examples include acquisitions that broaden fuel, lubricants, DEF, and industrial reliability services, as well as turnkey petroleum services that support equipment maintenance, compliance, and installation.
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