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) received an A- from CDP for its 2020 climate disclosure, achieving a top score at CDP’s Leadership Level. This marks the second consecutive year CRC secured the highest ranking among U.S. oil and gas companies. The recognition highlights CRC's commitment to sustainability and its alignment with California’s 2030 Sustainability Goals. Todd Stevens, President and CEO, emphasized the importance of their ESG principles and the company's dedication to responsibly meeting California’s energy demands. For further details on CRC's sustainability efforts, visit the company's Sustainability page.
California Resources Corporation (NYSE: CRC) announced that Executive Vice President of Operations and Engineering, Shawn Kerns, will virtually participate in the Cowen 2020 Energy Conference. His panel, titled “Carbon Capture Utilization and Storage (CCUS) Opportunities Within Upstream Oil & Gas,” is scheduled for December 4th at 11:10 a.m. EST. Presentation materials will be accessible on CRC’s Investor Relations page on their website.
As the largest oil and natural gas exploration company in California, CRC focuses on responsible energy production using advanced technology.
California Resources Corporation (NYSE: CRC) reported a net loss of $29 million for Q3 2020, with an adjusted net loss of $55 million. The company emerged from Chapter 11 bankruptcy with a new capital structure, while facing significant challenges including a 17% decline in production year-over-year. Average net production was 106,000 BOE per day. Despite lower crude prices at $42.15 per barrel, CRC achieved free cash flow of $44 million. The restructuring eliminated pre-filing debt and established a new liquidity framework for operations.
California Resources Corporation (NYSE: CRC) will have its President and CEO, Todd Stevens, present at the BofA Securities 2020 Global Energy Conference on November 12, 2020, at 1:00 pm EST. The presentation will be virtual and include other members of the executive management team. On the event day, presentation materials and a link to the live audio webcast will be available on the Investor Relations section of www.crc.com, under the 'Earnings and Presentations' page.
CRC is the largest independent oil and gas exploration company in California, focusing on supplying affordable energy responsibly.
Summary not available.
California Resources Corporation (NYSE: CRC) has completed its financial restructuring and emerged from Chapter 11 bankruptcy with a strengthened balance sheet. The company's Joint Plan of Reorganization has cancelled approximately $4.4 billion in debt and consolidated ownership in the Elk Hills power and cryogenic gas plants. CRC's new capital structure includes about 83.3 million shares of common stock and a $1.2 billion revolving credit facility. As of emergence, CRC is well-capitalized with over $345 million in available liquidity and aims to deliver sustainable energy to Californians.