California Res Corp Stock Price, News & Analysis

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.

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.