California Resources Corporation reports news on its oil and natural gas operations, capital spending, production activity, and drilling programs across California and Utah. Company updates commonly cover financial results, operating guidance, shareholder returns, drilling permits, integration of the completed Berry Corporation combination, and debt or capital-structure actions.
CRC also reports developments in carbon management through Carbon TerraVault, including carbon capture, transportation and permanent storage services, environmental products, and emissions-reduction initiatives. Other recurring news themes include methane certification for San Joaquin Valley assets, customer or community decarbonization partnerships, and governance or shareholder voting matters.
California Resources Corporation (NYSE: CRC) plans to release its third-quarter 2026 financial results after market hours on November 2, 2026. The company will discuss the results on a conference call on November 3 at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). A digital replay will be available on its Investor Relations website for approximately 90 days.
California Resources Corporation (CRC) has signed an agreement to divest its Uinta Basin assets to an undisclosed buyer for approximately $90 million in cash, subject to customary purchase price adjustments.
The assets are described as non-core holdings acquired through the Berry merger, and their sale is intended to further align CRC’s portfolio with its California-focused operations. CRC expects to use net proceeds for shareholder returns and other corporate purposes, and the company said the transaction enhances capital allocation flexibility, supports its shareholder return strategy, and helps offset the purchase price of a recent midstream transaction. The deal is effective July 1, 2026 and is expected to close by year end, subject to third-party consents and customary conditions. RBC Capital Markets is serving as financial advisor to CRC.
California Resources Corporation (NYSE: CRC) has closed its approximately $63 million all-cash acquisition of Crimson Midstream Holdings from CorEnergy Infrastructure Trust, following approval from the California Public Utilities Commission on August 13, 2026.
CRC said Crimson’s diversified pipeline network complements its integrated energy portfolio, enhancing delivery of California-produced barrels to higher-value markets and improving operating flexibility and flow assurance. The company also highlighted Crimson’s corridors as potential pathways for future CO2 transportation as part of its carbon management strategy.
For the third quarter of 2026, CRC expects Crimson-related G&A expenses of $1–$2 million and capital investment of $1–$2 million, reflecting the September 1, 2026 closing. CRC plans to update full-year 2026 guidance with its third quarter 2026 earnings release.
California Resources Corporation (NYSE: CRC) released its 2025 Sustainability Report Update and Summary, outlining progress in responsible energy production and carbon management in California. The company reported a 25% reduction in Scope 1 and 2 greenhouse gas emissions since 2020, avoiding over 1.61 million metric tons of CO2e while keeping well production carbon intensity below the California Air Resources Board statewide average.
CRC highlighted completion of CTV I, California’s first commercial carbon capture and storage facility, designed to store up to 1.6 million metric tons of CO2 annually. In 2025, CRC delivered about 4.6 billion gallons of treated reclaimed water to local districts, invested nearly $10 million in methane detection and abatement, over $2 million in community initiatives, and contributed more than $130 million in state and local taxes while employing more than 1,500 people.
Centuri Holdings (NYSE: CTRI) announced executive leadership changes, appointing Kelly Youngblood as Executive Vice President and Chief Financial Officer and Danielle Hunter as Executive Vice President, Chief Legal & Administrative Officer and Corporate Secretary, effective immediately. Youngblood succeeds Gregory A. Izenstark and brings over 30 years of global energy services and industrial distribution experience, including senior roles at DNOW and MRC. Hunter succeeds Jason S. Wilcock and has more than 15 years of public company executive leadership in the energy industry, most recently serving as President of Berry Corporation. According to Centuri, these appointments support its Vision One Centuri transformation and growth strategy.
California Resources Corporation (NYSE: CRC) reported second quarter 2026 net income of $514 million, including a non-cash commodity derivative gain, with adjusted net income of $88 million and adjusted EBITDAX of $338 million. Average net production was 149 MBoe/d (81% oil).
CRC generated $263 million of net cash from operating activities and $114 million of free cash flow, returned $36 million in dividends, and ended the quarter with $1.322 billion in liquidity. The company agreed to acquire Crimson Midstream for $63 million, cut long-term California maintenance capital about 5% to $450–$475 million, and reaffirmed 2026 guidance while trimming 2026 drilling, completions and workover capital by $10 million.
California Resources Corporation (NYSE: CRC) agreed to acquire Crimson Midstream Holdings from CorEnergy Infrastructure Trust for $63 million in cash, subject to customary adjustments. The planned deal adds about 2,000 miles of California pipelines with transportation capacity of up to 400,000 barrels per day, including the SoCal Pipeline Network, IVEC Line, San Pablo Bay Pipeline and KLM Pipeline.
CRC describes the transaction as attractively priced at roughly 4.4x enterprise value / 2027E adjusted EBITDA and expects it to be accretive to key financial metrics. The acquisition is intended to strengthen CRC’s integrated California energy infrastructure platform, enhancing crude transport, market connectivity and third‑party transportation opportunities. The closing is targeted for the third quarter of 2026, subject to regulatory approvals, after which CRC plans to update its financial and operating guidance.
California Resources (NYSE:CRC) will release its second quarter 2026 financial results on Monday, August 10, 2026, before market hours. A related earnings conference call is scheduled for 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).
Investors can participate via phone, webcast, or 90-day replay.
California Resources (NYSE: CRC) priced a private offering of $550 million aggregate principal amount of 7.250% senior unsecured notes due 2035 at par. Net proceeds are estimated at about $541 million.
CRC plans to use proceeds, plus borrowings and/or cash, to redeem its 8.250% senior notes due 2029.
California Resources (NYSE: CRC) plans a private offering of $550 million senior unsecured notes due 2035, guaranteed by key subsidiaries.
According to California Resources, net proceeds, plus revolver borrowings and/or cash, are intended to redeem all $550 million 8.250% senior notes due 2029 at 104.125% of principal, plus accrued interest, subject to market conditions.