California Resources Corp (CRC) SEC Filings

California Resources Corporation (CRC) presented preliminary, unaudited estimated prices for the three months ended September 30, 2026. Oil realized prices were $83.42 per barrel without derivative settlements and $72.46 with them; NGLs were $48.57 per barrel and gas was $3.52 per Mcf under both measures. Index prices were Brent at $91.36 per barrel, WTI at $85.79 per barrel and NYMEX Henry Hub at $2.96 per Mcf.

CRC estimated a $134 million loss from net settlement from commodity derivatives, including $122 million from net settlements and premiums from commodity sales derivatives and $12 million from settlements of natural gas purchase derivatives. CRC said it does not view its third-quarter oil price realization relative to Brent as a long-term run rate and expects realizations to improve as commercial and logistics actions already underway take effect. The preliminary information does not reflect all adjustments and charges, remains subject to completion of CRC’s financial reporting process, and does not constitute an estimate of quarterly earnings.

California Resources Corp (CRC) is named in a Form 144 notice reporting Officer Jay A. Bys’s proposed sale of 11,907 common shares through Fidelity Brokerage Services LLC. The notice lists an aggregate market value of $642,978 and October 12, 2026, as the approximate sale date. The shares are listed as acquired on January 25, 2024, through restricted stock vesting as compensation.

California Resources Corp (CRC) executive Jay A. Bys, EVP & Chief Commercial Officer, reported selling 11,907 shares of common stock on September 4, 2026 at $54.00 per share in an open-market or private transaction. After this sale, he directly holds 135,610 shares, and the transaction occurred automatically under a Rule 10b5-1 trading plan adopted on March 5, 2026.

California Resources Corp (CRC) is the issuer of common stock covered by a notice of proposed sale under Rule 144 for the account of Jay A. Bys. The notice lists 11,907 common shares held at Fidelity Brokerage Services LLC and acquired through restricted stock vesting on January 25, 2024 as compensation from the issuer.

The filing also reports that Jay A. Bys has sold 11,907 common shares of California Resources Corp on each of June 4, 2026, July 13, 2026, and August 10, 2026, with reported aggregate sale prices for each transaction. The notice is signed by Daniel Tucci as a duly authorized representative of Fidelity Brokerage Services LLC, acting as attorney-in-fact for Jay Bys.

California Resources Corp executive Jay A. Bys, EVP & Chief Commercial Officer, reported selling 11,907 shares of common stock on August 10, 2026 at $54.00 per share in an open-market or private transaction. The sale occurred automatically under a Rule 10b5-1 trading plan adopted on March 5, 2026, and left him with 147,517 shares held directly.

CRC insider Jay A. Bys filed a notice of intent to sell 11,907 shares of common stock through Fidelity Brokerage Services LLC, with an aggregate market value of $642,978.00 as of 08/10/2026 on the NYSE. These shares originated from restricted stock vesting on 01/25/2024 as compensation. The filing also lists prior sales during the past three months, including 11,907 shares sold on 06/04/2026 for $734,423.76 and another 11,907 shares sold on 07/13/2026 for $642,978.00.

California Resources Corporation reported stronger quarterly performance while absorbing merger and hedging impacts. For the three months ended June 30, 2026, total operating revenues were $1,297 million, up from $978 million a year earlier, driven by higher oil prices and volumes including Berry’s contribution. Quarterly net income rose to $514 million (basic EPS $5.79) versus $172 million (EPS $1.93) in 2025, helped by a $205 million net gain on commodity sales derivatives.

For the six-month period, results were weaker: operating revenues were $1,416 million versus $1,890 million in 2025 and CRC recorded a net loss of $197 million versus income of $287 million, largely due to a $643 million net loss on commodity sales derivatives. Operating cash flow was $362 million for the first half, funding $280 million of capital investments, $72 million of dividends, and modest share repurchases. The Berry all-stock merger was preliminarily valued at $709 million, while CRC agreed to acquire Crimson Midstream for about $63 million. The company refinanced its debt stack with new $750 million 2034 and $550 million 2035 senior notes, fully redeeming 8.250% 2029 notes, and ended the quarter with $1,281 million of long-term debt and $56 million of cash. CRC advanced its carbon management strategy, beginning first CO₂ injection at its Elk Hills 26R reservoir and recording initial, though still insignificant, carbon-management revenue.

California Resources Corporation reported strong second-quarter 2026 results driven by higher commodity prices, derivative gains and operating efficiency. Net production averaged 149 MBoe/d (81% oil). Oil, gas and NGL sales were $1,056 million and total operating revenues before derivatives were $1,092 million.

Net income was $514 million, heavily influenced by a $370 million non-cash gain on commodity derivatives; adjusted net income was $88 million with adjusted EBITDAX of $338 million. Net cash provided by operating activities was $263 million, yielding $114 million of free cash flow. Liquidity totaled $1,322 million, including $43 million of cash and $1,279 million of revolver availability.

The company agreed to acquire Crimson Midstream for $63 million in cash, reduced its California long-term maintenance capital outlook and completed a $550 million 7.250% 2035 notes offering, redeeming all $550 million 8.250% 2029 notes for $573 million. CRC declared a quarterly dividend of $0.405 per share and has returned $1,655 million to shareholders since 2021. Full-year 2026 guidance includes net production of 150–155 MBoe/d, capital investments of $520–$560 million and adjusted EBITDAX of $1.2–$1.3 billion.

BlackRock, Inc. filed an amended Schedule 13G reporting a significant passive ownership position in California Resources Corporation common stock. BlackRock reports beneficial ownership of 11,576,596 shares, representing 13.0% of the outstanding common stock.

BlackRock has sole voting power over 11,477,968 shares and sole dispositive power over all 11,576,596 shares, with no shared voting or dispositive power. An affiliated fund, iShares Core S&P Small-Cap ETF, is stated to have an interest in CRC common stock exceeding five percent of the total outstanding shares.