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 (NYSE: CRC) news coverage tracks the largest oil and natural gas producer operating exclusively in California. As a major player in the state's energy sector, CRC generates significant news flow around production operations, commodity market conditions, and regulatory developments that affect California's energy industry.
The company's news typically covers quarterly earnings reports detailing production volumes, operating costs, and capital allocation decisions. Investors monitoring CRC follow announcements about drilling programs, infrastructure investments, and operational updates across the San Joaquin, Ventura, and Los Angeles basins. These updates provide insight into the company's execution of development plans and response to changing commodity prices.
CRC's carbon capture and storage initiatives generate news about partnership agreements, project milestones, and permitting progress. The company's position as a first-mover in California carbon management means announcements about sequestration projects, power sector collaborations, and carbon credit developments attract attention from investors interested in the energy transition.
Regulatory news plays an important role in CRC coverage, as the company operates under California's distinct environmental and permitting framework. Policy developments, permit decisions, and emissions regulations directly impact the company's operational outlook. Corporate news including capital markets activity, strategic transactions, and governance matters rounds out coverage of this California-focused energy producer.
Bookmark this page to follow CRC developments as they happen. Our coverage captures press releases, SEC filings, and market-moving announcements to help you track this significant participant in California's oil and gas industry.
California Resources Corporation (CRC) reported strong second quarter results, increasing its 2021 free cash flow guidance to $400-$500 million. The company raised its Share Repurchase Program from $150 million to $250 million and announced an acquisition of a 90% working interest in joint venture wells for $53 million. CRC also plans to divest non-core Ventura operations, projected to generate up to $102 million in cash. The company is advancing its CCS initiatives, targeting a 40 million metric ton permanent storage project, reinforcing its commitment to energy transition.
California Resources Corporation (NYSE: CRC) will host its second quarter 2021 financial results conference call on August 5th at 5:00 p.m. ET. Earnings will be released after market close on the same day. Participants can pre-register for the call to gain immediate access using a unique PIN. The conference call can also be joined via dial-in methods or a webcast. A replay will be available for 90 days on the investor relations page.
CRC specializes in oil and natural gas exploration and production, utilizing advanced technology for efficient energy supply.
California Resources Corporation (NYSE: CRC) will participate in the 2021 TD Securities Virtual Energy Conference from July 6-8. CRC will provide presentation materials on the day of the event, accessible through their Investor Relations page. The company specializes in oil and natural gas exploration and production, leveraging advanced technology to ensure safe and responsible energy supply.
California Resources Corporation (CRC) reported strong Q1 2021 results with a net loss of $94 million, but adjusted net income of $102 million. The company generated free cash flow of $120 million, reaffirming its 2021 guidance of $250-$350 million. CRC's Board authorized a $150 million Share Repurchase Program, enhancing shareholder value. The company successfully simplified its capital structure with a $600 million debt offering and ended the quarter with $130 million cash. Operationally, CRC produced an average of 99,000 BOE per day while maintaining significant cost reductions.
California Resources Corporation (NYSE: CRC) will participate in the 2021 Virtual Wells Fargo Energy Conference on June 2-3. The Company’s executives will present at this event, and relevant presentation materials will be available on the Investor Relations section of the CRC website the day of the conference. CRC is engaged in oil and natural gas exploration and production, utilizing advanced technology to supply affordable energy safely and responsibly.
California Resources Corporation (NYSE: CRC) will host its first quarter 2021 financial results conference call on May 13 at 11:00 a.m. ET. Earnings will be released before the market opens on the same day. Participants can pre-register for the call online to gain immediate access. The company will also participate in several upcoming virtual events in May and June, including conferences by Goldman Sachs, RBC Capital Markets, and J.P. Morgan. Presentation materials will be available on the Investor Relations page of CRC's website.
California Resources Corporation (CRC) announced the appointment of Tiffany (TJ) Thom Cepak as the new Chair of the Board of Directors, succeeding Mark A. (Mac) McFarland, who is now the President and CEO. This change emphasizes the Company's commitment to strong corporate governance by separating the roles of Chair and CEO. Ms. Cepak brings over 26 years of energy industry experience and has held significant positions such as Chief Financial Officer at multiple energy companies. Her leadership is expected to enhance the Company’s oversight following its emergence from bankruptcy.
California Resources Corporation (NYSE: CRC) has appointed Mark A. McFarland as its permanent President and CEO, effective immediately. McFarland has been with the Company since its post-bankruptcy emergence in October 2020, serving as interim CEO before this appointment. Under his leadership, the Company has successfully achieved high yield financing and is focused on reducing costs and optimizing operations to improve cash flow. The Board expresses confidence in McFarland's leadership, emphasizing a strong asset base and commitment to ESG initiatives.
California Resources Corporation (CRC) reported its fourth quarter and full-year 2020 results, revealing a net income of $1.87 billion but an adjusted net loss of $257 million due to bankruptcy-related items. For 2020, CRC achieved $106 million in net cash from operations and $172 million in free cash flow, excluding one-time bankruptcy costs. Average daily production was 111,000 BOE, down 13% year-over-year. CRC emerged from Chapter 11 on October 27, 2020, enhancing liquidity to $335 million by year-end. Strategic initiatives include a $600 million debt offering and ongoing cost-cutting to reduce operating expenses.
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