Welcome to our dedicated page for California Resources Corporation news (Ticker: $CRC), a resource for investors and traders seeking the latest updates and insights on California Resources Corporation stock.
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California Resources Corporation (CRC) reported strong third-quarter operational and financial results. The company generated $104 million in net cash provided by operating activities and delivered $71 million of free cash flow during the quarter. CRC raised its quarterly dividend by 10% to $0.31 per share and has repurchased $604 million of stock since the inception of its share repurchase program. The company also announced new carbon management projects and is on track to achieve $55 million in annual cost reductions. However, CRC reported a net loss of $22 million for the quarter.
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Carbon TerraVault, a subsidiary of California Resources Corporation (CRC), announced the first fully integrated capture to storage CO2 project at Elk Hills and a new storage-only CDMA with NLC Energy. The project aims to remove and permanently store 100,000 metric tons per annum (MTPA) of CO2 by year end 2025. The CDMA with NLC Energy commits to sequestering a minimum of 150,000 MTPA of CO2. CTV's total projected CO2 injection rate is now 1,065,000 MTPA. CTV's total submitted storage capacity under permits to the EPA is 191 million metric tons (MMT).
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California Resources Corporation (NYSE: CRC) plans to release its Q3 2023 financial results on November 1st after market close. Conference call to discuss these results will be held on November 2nd at 1:00 p.m. ET. Participants can pre-register for the call using the provided link. Replay available for 90 days.
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California Resources Corporation (NYSE: CRC) has published its 2022 Sustainability Update, highlighting its progress in meeting environmental, social, and governance (ESG) goals. The update includes achievements such as expanded ESG goals, advancements towards the company's net zero emissions target, joint ventures for carbon capture and storage (CCS) development, and community support initiatives.
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California Resources Corporation (CRC) reported solid operational and financial performance in Q2 2023. They returned nearly $84 million to shareholders, bringing the total shareholder return program to nearly $700 million. CRC also submitted a Class VI permit to the EPA for 17 million metric tons of CO2 reservoir and signed a new carbon dioxide management agreement with Verde Clean Fuels Inc. They reported net income of $97 million and generated net cash provided by operating activities of $108 million.
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California Resources Corporation (CRC) has announced a storage-only Carbon Dioxide Management Agreement (CDMA) with Verde Clean Fuels Inc. (Verde) for the capture, transport, and storage of carbon dioxide (CO2). CRC has also expanded its Lone Cypress blue hydrogen project and submitted a Class VI permit to the EPA for CTV V CO2 reservoir. The CDMA with Verde includes the construction of a renewable gasoline plant at CRC's Net Zero Industrial Park, with a minimum volume commitment of 100 thousand metric tons per annum (KMTPA) of CO2 injection. The project is expected to produce 7.5 million gallons per year of renewable gasoline.
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California Resources Corporation (CRC) will release its Q2 2023 financial results on July 31st. A conference call will be held on August 1st at 1:00 p.m. ET. Participants can pre-register for the call to gain immediate access.
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California Resources Corporation
NYSE:CRC
CRC Rankings
CRC Stock Data
3.55B
64.94M
0.77%
104.73%
10.47%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
United States of America
LONG BEACH
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