Welcome to our dedicated page for California Res news (Ticker: CRC), a resource for investors and traders seeking the latest updates and insights on California Res stock.
California Resources Corporation (CRC) is a New York Stock Exchange–listed independent energy and carbon management company focused on California. News related to CRC often combines traditional oil and natural gas operations with developments in carbon capture and storage (CCS), methane emissions performance, corporate transactions and community initiatives.
Recent company announcements describe CRC’s role in the energy transition and its efforts to align local energy production with California’s climate goals. Investors and observers can find updates on CRC’s financial and operating results, including quarterly earnings releases and associated conference calls, where the company discusses its performance, capital allocation and balance sheet actions. These events are typically accompanied by press releases and webcast details.
CRC’s news flow also highlights its carbon management business, Carbon TerraVault (CTV). The company issues releases on memoranda of understanding with power producers and other partners to evaluate CCS solutions for facilities in California, as well as milestones such as the groundbreaking of Carbon TerraVault I at Elk Hills Field in Kern County. These items provide insight into how CRC is developing services to capture, transport and store CO2 for industrial customers.
Corporate and strategic developments are another key news theme. CRC has reported an all-stock combination with Berry Corporation, with Berry becoming a wholly owned subsidiary of CRC, and has disclosed related credit facility amendments and note offerings. Additional news covers topics such as MiQ "Grade A" methane emissions certifications for CRC’s production assets, community donations to support food security, and partnerships like the "Football Without the Footprint" initiative with the Los Angeles Rams.
For those following CRC, the news page offers a way to monitor earnings announcements, carbon management projects, regulatory and financing updates, and community-focused activities tied to the company’s operations in California.
California Resources Corporation (NYSE: CRC) reported strong Q2 2025 financial results, delivering 137 MBoe/d average net production (80% oil). The company generated $172 million in net income ($1.92 per diluted share) and $324 million in adjusted EBITDAX.
CRC returned a record $287 million to shareholders, including $252 million in share repurchases and $35 million in dividends. The company ended Q2 with $1.039 billion in liquidity and successfully implemented $235 million in annualized Aera merger-related synergies.
Management raised its 2025 guidance, increasing production outlook to 136 MBoe/d (79% oil) and adjusted EBITDAX to $1,235 million, while reducing drilling capital by $5 million. The company also received EPA authorization for carbon dioxide injection wells for the 26R storage reservoir.
California Resources Corporation (NYSE: CRC), an independent energy and carbon management company, has scheduled its second quarter 2025 earnings release for Tuesday, August 5th after market close. The company will host a conference call to discuss the results on Wednesday, August 6th at 1:00 p.m. Eastern Time.
Participants can pre-register for the call through a dedicated link and will receive a passcode and PIN for immediate access. Alternatively, they can dial (877) 328-5505 (International: +1-412-317-5421) or access the webcast via CRC's website. A digital replay will be available for approximately 90 days on the company's Investor Relations page.
California Resources (NYSE: CRC) has announced it will release its first quarter 2025 financial results on Tuesday, May 6th after market close. The company will host a conference call to discuss the results on Wednesday, May 7th at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).
Participants can pre-register for the call through a provided link and will receive a conference passcode and unique PIN for immediate access. The call can be accessed by dialing (877) 328-5505 for domestic callers or +1-412-317-5421 for international callers. A digital replay will be available for approximately 90 days on CRC's Investor Relations webpage.
Carbon TerraVault (CTV) and Net Power (NYSE: NPWR) have signed a Memorandum of Understanding to develop ultra-low emission power plants in California. The partnership aims to deploy up to 1 gigawatt of power capacity in Northern California, with potential to sequester 3.6 million metric tons of CO2 emissions annually.
The collaboration involves building Net Power's modular plants near CTV's underground storage vaults to reduce transportation costs. Each plant will require less than 20 acres, generate up to 250 megawatts, and eliminate substantially all carbon emissions. The project will support California's air quality standards and emissions goals while providing reliable energy sources.
California Resources (NYSE: CRC) and the Los Angeles Rams have launched 'Football Without the Footprint', a carbon management initiative aimed at reducing or offsetting the Rams' carbon emissions. As part of this partnership, CRC becomes the Rams' Official Carbon Management Partner. The Rams will be the first NFL team in California to purchase locally sourced carbon credits from CRC's Carbon TerraVault.
The initiative includes potential solutions such as the California Direct Air Capture Hub and Biomass with carbon removal and storage projects. The Rams may also reduce emissions by purchasing locally produced hydrocarbons like responsibly sourced gas from CRC's Los Angeles Basin operations. Both organizations will collaborate on community impact efforts and educate fans about carbon management technologies and responsible energy sourcing.
Sage Geosystems, Inc. and California Resources (NYSE: CRC) have signed a Memorandum of Understanding (MOU) to collaborate on subsurface energy storage and geothermal power generation projects in California. This strategic partnership aims to develop clean and reliable energy solutions to meet the growing global electricity demand, including the needs of AI-capable data centers.
The collaboration leverages CRC's established presence in California and Sage's next-generation geopressured geothermal technology. Francisco Leon, CRC's President and CEO, emphasized their commitment to sustainable energy solutions, while Cindy Taff, Sage Geosystems' CEO, highlighted the potential to enhance the California power grid's resiliency and reliability.
California Resources (NYSE: CRC) has launched its Carbon TerraVault I (CTV I) Elk Hills Community Benefits Plan (CBP) in Kern County, California. The plan commits 1% of each CTV I project investment to develop programs and partnerships that will benefit local communities. The CBP will focus on investing in America's workforce, engaging with communities and labor, advancing diversity and inclusion, and implementing the Justice 40 initiative.
The plan includes two phases: establishing a Community Advisory Council by the end of 2024, and enhancing partnerships with various organizations to provide workforce training, education programs, and community support. CRC aims to support local academic institutions and promote clean energy education and STEAM curriculum in the region.
California Resources (NYSE: CRC) announced the consideration for its cash tender offer to purchase up to $300 million of its outstanding 7.125% senior notes due 2026. The Early Tender Consideration is $1,009.15 per $1,000 principal amount for notes validly tendered by the Early Tender Time of August 21, 2024. The offer was oversubscribed, with $488,467,000 tendered, resulting in a proration rate of approximately 61.4%. CRC anticipates the Early Settlement Date will be August 23, 2024. The company does not expect to accept any notes tendered after the Early Tender Time. This tender offer is part of CRC's debt management strategy as an independent energy and carbon management company committed to energy transition.
California Resources (NYSE: CRC) announced early tender results for its cash tender offer to purchase up to $300 million of its 7.125% senior notes due 2026. As of August 21, 2024, $488,467,000 principal amount had been validly tendered, exceeding the maximum tender amount. Due to oversubscription, the notes will be subject to proration at a rate of approximately 61.4%. The company anticipates an early settlement date of August 23, 2024.
The Early Tender Consideration includes an early tender premium of $30 per $1,000 principal amount. CRC has appointed Jefferies , Citigroup Global Markets Inc., and TD Securities (USA) as dealer managers for the offer. The tender offer is subject to conditions, including a financing condition.