California Res Corp Stock Price, News & Analysis

California Resources Corporation (NYSE: CRC) reported strong Q2 2025 financial results, delivering 137 MBoe/d average net production (80% oil). The company generated $172 million in net income ($1.92 per diluted share) and $324 million in adjusted EBITDAX.

CRC returned a record $287 million to shareholders, including $252 million in share repurchases and $35 million in dividends. The company ended Q2 with $1.039 billion in liquidity and successfully implemented $235 million in annualized Aera merger-related synergies.

Management raised its 2025 guidance, increasing production outlook to 136 MBoe/d (79% oil) and adjusted EBITDAX to $1,235 million, while reducing drilling capital by $5 million. The company also received EPA authorization for carbon dioxide injection wells for the 26R storage reservoir.

California Resources Corporation (NYSE: CRC), an independent energy and carbon management company, has scheduled its second quarter 2025 earnings release for Tuesday, August 5th after market close. The company will host a conference call to discuss the results on Wednesday, August 6th at 1:00 p.m. Eastern Time.

Participants can pre-register for the call through a dedicated link and will receive a passcode and PIN for immediate access. Alternatively, they can dial (877) 328-5505 (International: +1-412-317-5421) or access the webcast via CRC's website. A digital replay will be available for approximately 90 days on the company's Investor Relations page.

California Resources Corporation (NYSE: CRC) reported strong Q1 2025 financial results, with net income of $115 million and adjusted EBITDAX of $328 million. The company maintained stable production at 141 thousand barrels of oil equivalent per day (79% oil). CRC returned $258 million to stakeholders, including $100 million in share repurchases, $35 million in dividends, and $123 million in debt repurchases. The company realized $173 million in Aera-related merger synergies and is on track to achieve $185 million by end-2025. CRC maintains strong liquidity of $1.182 billion, including $199 million in cash and $983 million in available borrowing capacity. The company reaffirmed its 2025 guidance and announced a quarterly dividend of $0.3875 per share.

California Resources (NYSE: CRC) has announced it will release its first quarter 2025 financial results on Tuesday, May 6th after market close. The company will host a conference call to discuss the results on Wednesday, May 7th at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).

Participants can pre-register for the call through a provided link and will receive a conference passcode and unique PIN for immediate access. The call can be accessed by dialing (877) 328-5505 for domestic callers or +1-412-317-5421 for international callers. A digital replay will be available for approximately 90 days on CRC's Investor Relations webpage.

Carbon TerraVault (CTV) and Net Power (NYSE: NPWR) have signed a Memorandum of Understanding to develop ultra-low emission power plants in California. The partnership aims to deploy up to 1 gigawatt of power capacity in Northern California, with potential to sequester 3.6 million metric tons of CO2 emissions annually.

The collaboration involves building Net Power's modular plants near CTV's underground storage vaults to reduce transportation costs. Each plant will require less than 20 acres, generate up to 250 megawatts, and eliminate substantially all carbon emissions. The project will support California's air quality standards and emissions goals while providing reliable energy sources.

California Resources (NYSE: CRC) and the Los Angeles Rams have launched 'Football Without the Footprint', a carbon management initiative aimed at reducing or offsetting the Rams' carbon emissions. As part of this partnership, CRC becomes the Rams' Official Carbon Management Partner. The Rams will be the first NFL team in California to purchase locally sourced carbon credits from CRC's Carbon TerraVault.

The initiative includes potential solutions such as the California Direct Air Capture Hub and Biomass with carbon removal and storage projects. The Rams may also reduce emissions by purchasing locally produced hydrocarbons like responsibly sourced gas from CRC's Los Angeles Basin operations. Both organizations will collaborate on community impact efforts and educate fans about carbon management technologies and responsible energy sourcing.

Sage Geosystems, Inc. and California Resources (NYSE: CRC) have signed a Memorandum of Understanding (MOU) to collaborate on subsurface energy storage and geothermal power generation projects in California. This strategic partnership aims to develop clean and reliable energy solutions to meet the growing global electricity demand, including the needs of AI-capable data centers.

The collaboration leverages CRC's established presence in California and Sage's next-generation geopressured geothermal technology. Francisco Leon, CRC's President and CEO, emphasized their commitment to sustainable energy solutions, while Cindy Taff, Sage Geosystems' CEO, highlighted the potential to enhance the California power grid's resiliency and reliability.

California Resources (NYSE: CRC) has launched its Carbon TerraVault I (CTV I) Elk Hills Community Benefits Plan (CBP) in Kern County, California. The plan commits 1% of each CTV I project investment to develop programs and partnerships that will benefit local communities. The CBP will focus on investing in America's workforce, engaging with communities and labor, advancing diversity and inclusion, and implementing the Justice 40 initiative.

The plan includes two phases: establishing a Community Advisory Council by the end of 2024, and enhancing partnerships with various organizations to provide workforce training, education programs, and community support. CRC aims to support local academic institutions and promote clean energy education and STEAM curriculum in the region.

California Resources (NYSE: CRC) announced the consideration for its cash tender offer to purchase up to $300 million of its outstanding 7.125% senior notes due 2026. The Early Tender Consideration is $1,009.15 per $1,000 principal amount for notes validly tendered by the Early Tender Time of August 21, 2024. The offer was oversubscribed, with $488,467,000 tendered, resulting in a proration rate of approximately 61.4%. CRC anticipates the Early Settlement Date will be August 23, 2024. The company does not expect to accept any notes tendered after the Early Tender Time. This tender offer is part of CRC's debt management strategy as an independent energy and carbon management company committed to energy transition.