California Res Corp Stock Price, News & Analysis

California Resources Corporation (NYSE: CRC) has announced the redemption of all outstanding 7.125% Senior Notes due 2026. The redemption will take place on October 10, 2025, at a redemption price of 100.000% of the principal amount plus accrued and unpaid interest.

The company will use cash on hand for the redemption, demonstrating its commitment to maintaining a strong balance sheet, according to CRC President and CEO Francisco Leon. Following the redemption, there will be no 2026 Notes outstanding.

California Resources Corporation (NYSE: CRC) has announced the pricing of a $400 million private offering of senior unsecured notes due 2034 with a 7.000% interest rate. The notes will be priced at par and are expected to close on October 8, 2025.

The net proceeds of approximately $394 million will be used, along with cash on hand and revolving credit facility borrowings, to repay Berry Corporation's existing debt in connection with their pending merger. The notes include a special mandatory redemption provision if the Berry Merger doesn't close by March 14, 2026, or if CRC terminates or abandons the merger plans.

The notes will be guaranteed by CRC's existing subsidiaries that guarantee its other credit facilities and will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

California Resources Corporation (NYSE: CRC) has announced a private offering of $400 million senior unsecured notes due 2034. The notes will be guaranteed by CRC's existing subsidiaries that guarantee its revolving credit facility and other senior unsecured notes.

The proceeds will be used, along with cash on hand and revolving credit facility borrowings, to repay Berry Corporation's existing debt in connection with their pending merger. The notes include a special mandatory redemption provision if the Berry Merger doesn't close by March 14, 2026, or if CRC terminates or abandons the merger plans.

The notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

California Resources Corporation (NYSE: CRC), California's largest oil and gas producer, has released its 2024 Sustainability Report highlighting significant environmental achievements and strategic initiatives. The company introduced its Responsible Net Zero (RNZ) strategy following its merger with Aera Energy, achieving a 27% reduction in Scope 1 and 2 emissions and a 32% decrease in legacy methane emissions compared to 2020 baseline.

Through its Carbon TerraVault subsidiary, CRC is set to complete California's first carbon capture and storage project by end-2025, with CO₂ injection planned for early 2026. The company secured California's first EPA permits for underground CO2 injection and maintained a well production carbon intensity 9% below the state average, while recycling approximately 75% of total produced water.

California Resources Corporation (NYSE: CRC) and Berry Corporation (NASDAQ: BRY) have announced a definitive agreement to combine in an all-stock transaction valued at approximately $717 million, including Berry's net debt. Under the agreement, CRC shareholders will own approximately 94% of the combined company, with Berry shareholders receiving 0.0718 shares of CRC stock for each BRY share, representing a 15% premium.

The combined entity will create a stronger California energy leader with Q2 2025 production of 161 thousand barrels of oil equivalent per day (81% oil) and 652 million barrels of oil equivalent proved reserves (87% proved developed). The transaction is expected to achieve annual synergies of $80-90 million within 12 months post-closing and will be accretive to key financial metrics with projected second half 2025 per share accretion exceeding 10% before synergies.

The transaction is expected to close in Q1 2026, subject to regulatory approvals and Berry shareholder approval.

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 Corporation (NYSE: CRC) reported strong Q1 2025 financial results, with net income of $115 million and adjusted EBITDAX of $328 million. The company maintained stable production at 141 thousand barrels of oil equivalent per day (79% oil). CRC returned $258 million to stakeholders, including $100 million in share repurchases, $35 million in dividends, and $123 million in debt repurchases. The company realized $173 million in Aera-related merger synergies and is on track to achieve $185 million by end-2025. CRC maintains strong liquidity of $1.182 billion, including $199 million in cash and $983 million in available borrowing capacity. The company reaffirmed its 2025 guidance and announced a quarterly dividend of $0.3875 per share.

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.