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BRIEF-California Resources reports JV to invest $250 mln in oil & gas properties
February 16, 2017 / 10:02 PM / 6 months ago

BRIEF-California Resources reports JV to invest $250 mln in oil & gas properties

Feb 16 (Reuters) - California Resources Corp :

* California Resources Corporation announces joint venture to invest $250 million in oil & gas properties

* California Resources Corp - BSP will make an initial $50 million investment to be directed toward drilling activities across properties subject to JV

* California Resources - BSP will make subsequent investments in tranches up to $50 million at discretion of JV partners over a two year investment window

* California Resources Corp - announced joint venture with Benefit Street Partners L.L.C. (BSP) to invest in CRC's oil and gas properties in California

* California Resources Corp - cos anticipate that initial investment will fund in approximately two weeks Source text for Eikon: Further company coverage:

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