- California Resources Corp. (NYSE:CRC) +1.9% premarket after announcing a joint venture with Benefit Street Partners to invest in CRC's oil and gas properties in California.
- BSP plans to invest up to $250M for development opportunities in both conventional and unconventional assets, with an initial $50M investment to be directed toward drilling activities across properties, and subsequent investments in tranches up to $50M over a two year investment window.
- CRC also reported a larger than expected Q4 loss relative to limited analyst coverage.