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California Resources Corporation - CRC STOCK NEWS

Welcome to our dedicated news page for California Resources Corporation (Ticker: CRC), a resource for investors and traders seeking the latest updates and insights on California Resources Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect California Resources Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of California Resources Corporation's position in the market.

News
California Resources Corporation Achieves MiQ “Grade A” Certification for its Los Angeles Basin Assets
Rhea-AI Summary
California Resources (CRC) receives a 'Grade A' certification for methane emissions reduction in its operating assets in Los Angeles and Orange Counties. The achievement highlights CRC's commitment to ESG goals and sustainability. CRC aims to reduce methane emissions by 30% from the 2020 baseline by 2030, surpassing California's 2030 goal.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.7%
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none
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News
California Resources Corporation Schedules First Quarter 2024 Earnings Conference Call
Rhea-AI Summary
California Resources (CRC) will release its first quarter 2024 financial results on May 7th and hold a conference call on May 8th to discuss these results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.73%
Tags
earnings
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News
California Resources Corporation Announces the Nomination of Christian S. Kendall to Its Board of Directors
Rhea-AI Summary
California Resources (CRC) has nominated Christian S. Kendall as a director, bringing valuable industry experience to navigate the growth of low carbon intensity oil and natural gas businesses. Mr. Kendall's background includes executive roles at Denbury and Noble Energy, showcasing his strategic insights in the energy sector.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.58%
Tags
management
News
California Resources Reports Fourth Quarter and Full-Year 2023 Financial and Operating Results
Rhea-AI Summary
California Resources Corporation (CRC) reported record cash flow and free cash flow per share for 2023, showcasing strong financial performance and operational efficiency. The company generated significant net cash from operating activities, demonstrated capital efficiency, and reported a leverage ratio decrease. CRC returned a substantial amount to stakeholders through share repurchases, debt repurchases, and dividends. The business transformation initiative led to annual cost savings, and the receipt of draft permits for underground carbon dioxide injection and storage highlights CRC's focus on sustainability. The Aera merger aims to enhance operational scale, improve cash flows, and accelerate decarbonization efforts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.22%
Tags
earnings
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News
Carbon TerraVault Provides 2023 Update
Rhea-AI Summary
California Resources Corporation (CRC) through its subsidiary Carbon TerraVault provided an update on its 2023 operations, highlighting advancements in carbon management projects, EPA permits, DOE funding, and a pending merger with Aera Energy. Key achievements include securing new Carbon Dioxide Management Agreements, receiving DOE grants, submitting EPA permits for CO2 storage, and expanding its workforce. The company aims to accelerate decarbonization efforts in California through strategic partnerships and project developments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.22%
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News
California Resources Corporation to Combine with Aera Energy
Rhea-AI Summary
California Resources Corporation (CRC) announced a merger agreement with Aera Energy, LLC, in an all-stock transaction valued at approximately $2.1 billion, expected to be immediately accretive. The transaction will create scale in operations, generate significant free cash flow, and expand the energy transition platform. The combined company will have estimated production of approximately 150 thousand Boe/d and proved reserves of approximately 680 million Boe, with a projected pro forma 2024E free cash flow of approximately $685 million at strip pricing. The merger is expected to enhance shareholder returns, reduce debt, and fund expansion of the carbon management business, with identified synergies totaling $150 million annually and a strong balance sheet. The transaction is set to close in the second half of 2024, with CRC shareholders owning approximately 77.1% of the combined company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
13.21%
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none
News
California Resources Corporation Expecting Strong Fourth Quarter 2023 Results; Schedules Fourth Quarter and Full Year 2023 Earnings Conference Call
Rhea-AI Summary
California Resources Corporation (CRC) updated select guidance ranges for the fourth quarter of 2023, with an expected free cash flow of $40 to $60 million, higher margins from natural gas marketing, and reduced investments in carbon capture and storage. Total net production is expected to range between 82 – 84 thousand barrels of oil equivalent per day, with approximately 60% being oil. Capital investments are expected to be in the $65 to $75 million range. CRC plans to release its fourth quarter and full year 2023 financial results on February 27th after market close, with a conference call on February 28th.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.48%
Tags
earnings
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News
U.S. EPA Releases Draft Class VI Permits to CRC’s Carbon TerraVault for CO2 Injection and Storage in California
Rhea-AI Summary
California Resources Corporation (CRC) (NYSE:CRC) and Carbon TerraVault (CTV) have received draft Class VI well permits from the U.S. Environmental Protection Agency (EPA) for underground carbon dioxide (CO2) injection and storage in CTV’s 26-R reservoir at the Elk Hills Field in Kern County, California. The proposed wells are California’s first draft permits for underground CO2 sequestration and the first draft permits utilizing a depleted oil and natural gas field in the U.S. The 26-R reservoir has an expected injection rate of 1.46 million metric tons (MT) per annum and a total estimated capacity of up to 38 million MT, part of CTV I which has a total estimated storage of up to 46 million MT. The Elk Hills Field is considered one of the premier CO2 sequestration sites in the U.S. by the California Energy Commission. CTV is partnering with clean technology companies to develop greenfield projects at Elk Hills, expected to create new jobs in clean energy industries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.22%
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none
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News
California Resources Corporation Announces January Investor Conference Participation
Rhea-AI Summary
California Resources Corporation (CRC) executives will participate in various energy and clean tech conferences in January 2024, including Goldman Sachs Global Energy and Clean Tech Conference, TD Global Energy Conference, RBC Capital Markets Energy Transition Seminar, UBS Global Energy and Utilities Conference, and Bank of America Clean: 2024 Carbon Capture & Sequestration Mini-Conference.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.92%
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none
News
California Resources Corporation Announces December Investor Conference Participation
Rhea-AI Summary
California Resources Corporation (CRC) to Participate in Morgan Stanley Energy & Clean Tech Symposium in December 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
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Stock CRC logo
California Resources Corporation

NYSE:CRC

CRC Rankings

#1367 Ranked by Market Cap
#1069 Ranked by Stock Gains
#1334 Ranked by Dividends

CRC Stock Data

3.84B
64.94M
0.77%
104.73%
10.47%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
US
Santa Clarita

About CRC

california resources corporation (nyse: crc) is a publicly traded oil and natural gas exploration and production company and the largest oil and natural gas producer in california on a gross-operated basis. we operate our world-class resource base exclusively within the state of california, and use integrated infrastructure to gather, process and market our production. using advanced technology, crc’s workforce of more than 5,000 employees and contractors focuses on safely and responsibly supplying affordable energy for california by californians. crc provides “energy for california by californians.” california homes, farms, businesses and communities need ample, affordable and reliable energy, and crc’s dedicated workforce of more than 5,000 california employees and contractors develop dependable local crude oil and natural gas reserves that help to reduce our state’s chronic dependence on imported energy. investing in california crc is also an economic engine for california. in