California Resources

California Resources Corp. is an independent oil and natural gas company committed to energy transition in the sector. The firm has some of the lowest carbon intensity production in the U.S. It focuses on increasing the value of land, mineral and technical resources for decarbonization by developing carbon capture and storage and other emissions reducing projects. The company was founded on April 23, 2014 and is headquartered in Long Beach, CA.

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Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

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Earnings data Q4 2024

California Resources (CRC) focuses on cash flow, value enhancement

CRC adapting to market dynamics with strategic realignment and increased financial flexibility.
Balancing operational efficiency with shareholder returns through value-enhancing actions.
Navigating challenges like litigation, production decline, and changing market conditions.
Exploring opportunities in business separations, asset monetization, and growth projects.

California Resources (CRC) reports record Q1 earnings and carbon strategy focus

California Resources (CRC) delivered strong financial results in Q1 2023, with a focus on operational efficiency and shareholder returns. The company is strategically repositioning, evaluating cost-cutting initiatives, and advancing their carbon management strategy to align with clean energy objectives in California.

California Resources (CRC) maintains financial strength amidst operational challenges

California Resources (CRC) reaffirms 2023 guidance with narrowed free cash flow range and lower operating cost guidance. The company is making progress on converting an oilfield into a real estate project and is focused on expanding carbon management efforts and shareholder returns.

California Resources (CRC) reports robust Q3 earnings and advances clean energy initiatives

California Resources (CRC) showcased strong cash flow generation and a focus on carbon management projects, with plans for CO2 capture and storage at Elk Hills.
Despite regulatory challenges and decision uncertainties, CRC is strategically positioned for clean energy development and cost savings, aiming for increased drilling activity.
The company's emphasis on emission capture technology, responsibly sourced gas, and waste utilization presents growth opportunities aligned with California's clean energy goals.

California Resources (CRC) exceeds Q4 targets, poised for carbon management growth

California Resources (CRC) delivered a robust performance in Q4 2023, exceeding financial targets and showcasing strengths in cost management, operational excellence, and carbon management initiatives.
While facing challenges in tax predictability and regulatory compliance, CRC is well-positioned to capitalize on growth opportunities in carbon management, emissions control projects, and operational synergies post-Aera merger.
The company's strategic focus on free cash generation, debt reduction, and shareholder value enhancement, coupled with ongoing efforts to navigate operational complexities and regulatory landscapes, underpin its resilience and growth potential.
With a strong financial outlook, commitment to sustainability, and strategic partnerships driving future growth, CRC remains poised for success in the evolving energy landscape, particularly in the carbon management sector.

California Resources (CRC) excels in Q3, eyes sustainable growth

CRC's Q3 performance reflects strong financials and strategic progress post-merger.
The company's focus on decarbonization and clean energy solutions is gaining traction.
Balancing financial strength with sustainability initiatives is a key priority for CRC.
Exploration of new energy avenues and partnerships positions CRC for future growth.

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California Resources Corp. is an independent energy and carbon management company, which engages in energy transition. It focuses on increasing the value of land, mineral and technical resources for decarbonization by developing carbon capture, storage and other emissions reducing projects. The company was founded on April 23, 2014 and is headquartered in Long Beach, CA.

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that it will hold a virtual Carbon Storage Update on Wednesday, October 6, 2021, at 1 p.m. ET (10 a.m. PT). Adoption of carbon capture technologies is critical to achieving greenhouse gas emission reduction goals around the world. This event will provide details on the launch of CRC's Carbon TerraVault I, a carbon capture and storage (CCS) project focused on the capture and permanent storage of

California Resources Corporation Schedules Virtual Carbon Storage Update

California Resources Corporation (CRC) CEO Mark McFarland on Q2 2021 Results - Earnings Call Transcript

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent oil and natural gas company committed to energy transition in the sector, today reported second quarter 2021 operational and financial results. “CRC continued to deliver on its strategy with strong second quarter results driven by robust financial and operational performance, resulting in an increase in 2021 free cash flow1 guidance to $400 to $500 million. Given our financial strength and low s

California Resources Corporation Reports Second Quarter 2021 Results, Increases Free Cash Flow Guidance, Raises Share Repurchase Program to $250 Million and Announces Strategic A&D Transactions

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that it will host its second quarter 2021 financial results conference call on Thursday, August 5th at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The Company's earnings will be released following the market close on the same date. We encourage participants to pre-register for the conference call webcast using the following link https://dpregister.com/sreg/10157220/e9185e9690. Callers who p

California Resources Corporation Schedules Second Quarter 2021 Conference Call and Earnings Release

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that the Company's executives will be participating in the 2021 TD Securities Virtual Energy Conference on July 6-8. CRC's presentation materials will be available the day of the event on the Earnings and Presentations page in the Investor Relations section on www.crc.com. About California Resources Corporation (CRC) California Resources Corporation (CRC) is an independent oil and natural gas ex

California Resources Corporation Announces July Investor Conference Participation

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) today announced that Chris Gould has been appointed as the Company's first ever Executive Vice President and Chief Sustainability Officer. “Bringing Chris on board reflects the importance of our ESG initiatives and our commitment to decarbonization and a realistic energy transition,” said Mac McFarland, CEO and President. “His considerable leadership skills and experience in climate change and i

California Resources Corporation Announces Appointment of First Chief Sustainability Officer

California Resources Corp (CRC) CEO Mark McFarland on Q1 2021 Results - Earnings Call Transcript

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent oil and natural gas exploration and production company, today reported first quarter 2021 operational and financial results. “CRC delivered on its strategy with strong first quarter results while maintaining solid environmental and safety records,” said Mac McFarland, President and Chief Executive Officer. "Given the positive first quarter results, supported by the previously announced capital s

California Resources Corporation Announces First Quarter 2021 Results and $150 Million Share Repurchase Program

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that it will host its first quarter 2021 financial results conference call on Thursday, May 13 at 11:00 a.m. Eastern Time (08:00 a.m. Pacific Time). The Company's earnings will be released prior to the market open on the same date. We encourage participants to pre-register for the conference call webcast using the following link https://dpregister.com/sreg/10153648/e58af1b180. Callers who pre-re

California Resources Corporation Schedules First Quarter 2021 Conference Call and Earnings Release, and Announces Investor Conference Participation

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today that Tiffany (TJ) Thom Cepak has been appointed as the Chair of the Board of Directors of the Company. Ms. Cepak replaces Mark A. (Mac) McFarland as the Chair following his appointment as the permanent President and Chief Executive Officer of the Company on March 22, 2021. Mr. McFarland will continue to serve as a director the Company. Mr. McFarland, President and Chief Executive

California Resources Corporation Announces Appointment of New Chair of the Board

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today the appointment of Mark A. (“Mac”) McFarland as the Company's permanent President and Chief Executive Officer, effective immediately. Mr. McFarland has served on the Company's board since its emergence from bankruptcy in October 2020, as its Executive Chairman from November 2020 through December 31, 2020 and as its Chairman of the Board and interim Chief Executive Officer since D

California Resources Corporation Announces Appointment of Permanent CEO

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent California-based oil and natural gas exploration and production company, today reported fourth quarter and full year 2020 results. Operational and financial highlights were as follows: 2020 Fourth Quarter and Full Year Highlights For the full year of 2020, CRC reported net income of $1,871 million and an adjusted net loss attributable to common stock1 of $257 million, excluding unusual and infre

California Resources Corporation Announces Fourth Quarter 2020 and Full Year Results

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) announced today that it will release its fourth quarter and full year 2020 financial results following the market close on Thursday, March 11, 2021. Strategy Day: CRC will hold a virtual Strategy Day on Thursday, March 18, 2021, at 1 p.m. ET (10 a.m. PT) to review the company's strategic repositioning, expected outcomes of the new strategic alignment and 2021 guidance. The event will feature Mac McFarland, Chai

California Resources Corporation Schedules Fourth Quarter and Full Year 2020 Earnings Release; Announces Virtual Strategy Day and Investor Conference Participation

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today that it is reducing the size of its leadership team and realigning several functions as it focuses on efficiency and cost reductions. The Company is eliminating leadership positions in the areas of public affairs, exploration and development, investor relations and finance, and implementing the following functional realignment: (1) reporting to Mac McFarland (interim CEO) will be

California Resources Corporation Announces Functional Realignment and Streamlining of Leadership Team

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today the pricing of its private offering of $600 million in aggregate principal amount of its 7.125% senior unsecured notes due 2026 (the “Notes”) at par. The Notes will be guaranteed by all of the Company's existing subsidiaries that guarantee its revolving credit facility and certain future subsidiaries. The offering is expected to close on January 20, 2021, subject to customary clo

California Resources Corporation Announces Pricing of Private Offering of $600 Million of Senior Unsecured Notes

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $600 million in aggregate principal amount of senior unsecured notes due 2026 (the “Notes”). The Notes will be guaranteed by all of the Company's existing subsidiaries that guarantee its revolving credit facility and certain future subsidiaries. The Company intends to use the net pro

California Resources Corporation Announces Private Offering of $600 Million of Senior Unsecured Notes

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (the “Company”) announced today that Todd A. Stevens, President and Chief Executive Officer, will be leaving the Company on December 31. Mark A. (“Mac”) McFarland, the Company's Executive Chairman, will serve as interim Chief Executive Officer and James N. Chapman will serve as Lead Independent Director. The Board of Directors will launch a search process for the Company's next CEO. Mr. McFarland said, “Todd ha

California Resources Corporation Announces CEO Departure

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) received an A- from CDP for its 2020 climate disclosure, securing a top score at CDP's Leadership Level. CRC once again received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. Scoring at CDP's Leadership Level for two years in a row further highlights CRC's differentiated value as a dedicated and dependable energy producer for

CRC Recognized with Leadership Level Ranking for 2020 Climate Disclosure by CDP

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, announced that Shawn Kerns, Executive Vice President Operations and Engineering, will be participating in the Cowen 2020 Energy Conference. He will be participating virtually on a panel titled “Carbon Capture Utilization and Storage (CCUS) Opportunities Within Upstream Oil & Gas” at 11:10 a.m. EST on December 4th. CRC's present

California Resources Corporation to Participate in December 2020 Investor Conference

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, today reported a net loss attributable to common stock of $29 million for the third quarter of 2020, and adjusted net loss1 of $55 million. GAAP reporting requires the accounting return from the non-controlling interest in the Ares JV upon our emergence from bankruptcy to be taken into account in determining earnings per share. Acc

California Resources Corporation Announces Third Quarter 2020 Results

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC), an independent California-based oil and gas exploration and production company, announced that Todd Stevens, CRC's President and Chief Executive Officer, will be presenting at the BofA Securities 2020 Global Energy Conference. He will be presenting virtually at 1:00 pm EST on November 12th, and will be accompanied by other members of the executive management team for the virtual conference. Presentation materi

California Resources Corporation to Participate in November 2020 Investor Conference

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced the publication of its third annual Sustainability Report. The report provides a comprehensive overview of CRC's continuous progress on its sustainability efforts in environmental, social and governance (ESG) performance while improving overall corporate transparency and highlighting a positive impact on communities where it operates. Todd Stevens, President and CEO of C

CRC Releases 2019 Sustainability Report Detailing Sustainability Goals, Progress and Industry ESG Leadership

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) will host its third quarter 2020 financial results conference call on Thursday, November 5th at 5:00 p.m. EST (2:00 p.m. PST). The Company's earnings will be released following the market close on the same date. We encourage participants to pre-register for the conference call webcast using the following link http://dpregister.com/10140527. Callers who pre-register will be given a conference passcode and unique

California Resources Corporation Announces Its Third Quarter 2020 Earnings Release and Conference Call

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) announced that it will today complete its financial restructuring and emerge from the bankruptcy process with a significantly stronger balance sheet. CRC's Joint Plan of Reorganization (“Plan”) in its Chapter 11 case cancelled pre-existing debt, consolidated CRC's ownership in the Elk Hills power plant and cryogenic gas plant, and provided for the payment in full of all valid and undisp

California Resources Corporation Completes Financial Restructuring

SANTA CLARITA, Calif.--(BUSINESS WIRE)--California Resources Corporation (OTC: CRCQQ) announced today that it has entered into an amended and restated Restructuring Support Agreement with approximately 85% of the holders of its term loans due 2017 and 68% of the holders of its unsecured and deficiency debt claims.

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