California Resources Corp completed a merger with Aera Energy, LLC and its operating affiliate Aera Energy Services Company, becoming wholly-owned subsidiaries of CRC. CRC also entered into a Registration Rights Agreement and Stockholder Agreements with the sellers, and made amendments to its Credit Agreement and Supplemental Indentures. Two new directors were appointed to the Board, and a director resigned. CRC issued a press release announcing the completion of the Transaction and the appointment of new directors.