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 robust third quarter 2021 results, achieving a net income of $103 million ($1.25 per diluted share) and $131 million in free cash flow. The company declared a quarterly cash dividend of $0.17 per share, totaling approximately $14 million, payable in Q4. CRC also tightened its full-year free cash flow guidance to $460 to $510 million. Highlights include operational strength with a production of 102,000 BOE per day and the addition of a fourth rig in October. Furthermore, CRC announced its 2045 Full-Scope Net Zero Goal, emphasizing its commitment to ESG initiatives.
California Resources Corporation (CRC) announced that Tiffany (TJ) Thom Cepak, Chair of its Board of Directors, has been named one of the 2021 “Most Influential Black Corporate Directors” by Savoy magazine. This recognition highlights her 26 years of experience in the energy sector, significantly benefiting CRC. Cepak, who has served on CRC's Board since 2020 and as Chair since 2021, also holds directorships with other companies. CRC is committed to energy transition focusing on carbon capture and storage, reinforcing its position in reducing carbon intensity.
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California Resources Corporation (NYSE: CRC) will host its third quarter 2021 financial results conference call on November 11, 2021, at 1:00 p.m. Eastern Time. The earnings release is scheduled for the same day before market open. Participants can pre-register using a provided link for expedited access. Company executives will also participate in several virtual events throughout November and December, including conferences by Goldman Sachs and BofA Securities. Presentation materials will be available on the Investor Relations page on the company’s website.
California Resources Corporation (NYSE: CRC) will host a virtual Carbon Storage Update on October 6, 2021, at 1 p.m. ET. The event will highlight the launch of CRC’s Carbon TerraVault I, aimed at capturing and permanently storing carbon dioxide (CO2) emissions. Attendees will also learn about the CalCapture project, focusing on the capture and utilization of CO2 for enhanced recovery, and CRC’s strategic role in carbon capture to support California's energy transition. Registration is encouraged for this informative session.
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.
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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.