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) is conducting a Consent Solicitation for its 7.125% Senior Notes due 2026, seeking approval for an amendment to its indenture. This amendment would allow unlimited Restricted Payments if the Total Leverage Ratio remains below 1.50:1.00. The Solicitation began on June 6, 2022, and will expire on June 10, 2022. Holders providing valid consents by the deadline will receive a payment of $10 per $1,000 of Notes. The company plans to fund the Solicitation using cash on hand.
California Resources Corporation (NYSE: CRC) will host its Q2 2022 financial results conference call on August 4 at 12:00 p.m. ET. Earnings will be released prior to market open. Participants can pre-register for the call via a provided link, allowing them to bypass the live operator. Additionally, CRC will participate in the 20th Annual TD Securities Calgary Energy Conference on July 12-13, 2022, with materials available on their Investor Relations page.
NEXT Carbon Solutions (NCS) and California Resources Corporation (CRC) have signed an agreement to explore decarbonization at CRC's Elk Hills Power Plant. NCS aims to implement its carbon capture technology to capture up to 95% of CO2 emissions, with a front-end engineering design (FEED) study expected to last six months. The CalCapture CCS+ project could capture and store 28 million metric tonnes of CO2. Both companies emphasize the potential for lower costs and scalable carbon solutions beneficial for California’s energy environment.
California Resources Corporation (NYSE: CRC) reported strong first quarter 2022 results, emphasizing operational success and a commitment to energy transition. The company increased its share repurchase program by $300 million, totaling $650 million, and raised 2022 production guidance to 91,000-94,000 BOE per day. CRC is advancing carbon capture initiatives, including 80 million metric tons of CO2 storage permits. Financially, the company reported a net loss of $175 million, though adjusted net income was positive at $91 million. Free cash flow stood at $61 million, with cash on hand amounting to $328 million.
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California Resources Corporation (NYSE: CRC) announced its first quarter 2022 financial results conference call scheduled for May 5, 2022, at 1:00 p.m. Eastern Time. Earnings will be released before market open on the same day. Participants can pre-register for the call to bypass the operator using a unique passcode. The company emphasizes its commitment to energy transition and decarbonization, focusing on initiatives like Carbon Capture and Storage (CCS).
California Resources Corporation (NYSE: CRC) reported strong operational and financial results for Q4 and the full year 2021. The company generated record free cash flow of $466 million, with net income of $612 million or $7.37 per share. CRC announced a $100 million increase to its share repurchase program, raising the total to $350 million, to enhance shareholder value. Despite divestitures impacting production, CRC expects to maintain an exit production rate of ~58,000 barrels per day for 2022 and plans to invest approximately $85 million in its Carbon Management Business.
California Resources Corporation (CRC) will host its fourth quarter and full year 2021 financial results conference call on February 24 at 1:00 p.m. Eastern Time. Earnings will be released before market open on the same day. Interested parties may pre-register for the call via the provided link. Participants can join by dialing (877) 328-5505 or through the webcast at www.crc.com. CRC is dedicated to energy transition and emphasizes its low carbon intensity production through Carbon Capture and Storage initiatives.
California Resources Corporation (NYSE: CRC) has achieved an A- rating from CDP for its 2021 climate disclosure, maintaining a top score for the third consecutive year. The company ranked highest among U.S. oil and gas operators, tying for first place. CRC emphasizes its commitment to Environmental, Social and Governance (ESG) practices and aims to decarbonize California through its 2045 Net Zero Goal and ongoing carbon management projects. This recognition further solidifies CRC's position as a low carbon intensity energy producer.
California Resources Corporation (NYSE: CRC) announced participation in key virtual and in-person events in December 2021 and January 2022, including Cowen’s Virtual Energy Summit and Goldman Sachs’ Global Energy and Clean Technology Conference. These events highlight CRC's commitment to energy transition and its focus on carbon capture and storage (CCS) technologies. Presentation materials will be accessible on their Investor Relations page, emphasizing CRC's strategy to maximize land and technical resources for decarbonization.