The leaders of California Resources Corp., Long Beach, have sold the company’s Uinta basin assets for about $90 million to an undisclosed buyer. The deal has an effective date of July 1 and is expected to close by yearend.

“Today’s transaction strengthens our business,” said Francisco Leon, CRC president and chief executive officer. “This transaction enhances our capital allocation flexibility, allowing us to invest in higher-return opportunities within the Golden State, and supports our shareholder return strategy.”

CRC had come to own the Uinta assets, which span about 100,000 net acres, after it acquired Berry Corp. in December of last year for $709 million. But the operation accounts for a small part of CRC’s business–2.5% of oil production and 8% of natural gas production in the second quarter–and Leon last month told analysts “it’s hard to see allocating a lot of dollars back into the Uinta” as his team focuses on building out its California network of assets.

“It requires a pretty significant amount of capital to develop the scale that we need for a second asset,” Leon said Aug. 10 after CRC reported its second-quarter results. “So as we do a side-by-side and we compare the Uinta assets with California, Uinta has higher capital intensity, higher break-evens, lower crude quality [and] higher transportation and operating costs and steeper declines.”

In the deal announcement, Leon said the Uinta sale also offsets the price CRC will pay for a set of midstream assets in California it plans to buy from CorEnergy Infrastructure Trust. The purchase of those pipelines and other operations is expected to close later this month.

Shares of CRC (Ticker: CRC) were down slightly to $54.24 in late-morning trading Sept. 17. They have lost about 15% of their value over the past 6 months, trimming the company’s market capitalization to about $4.8 billion.