California Resources (CRC) lifts credit facility to $1.45B

California Resources Corporation entered into a Seventh Amendment to its Amended and Restated Credit Agreement.

Rhea-AI Filing Summary

California Resources Corporation entered into a Seventh Amendment to its Amended and Restated Credit Agreement. The amendment adds new lenders and increases the aggregate elected commitment amount from $1.15 billion to $1.45 billion, effective October 29, 2025.

This change expands the company’s committed borrowing capacity under its existing facility. The amendment was executed with Citibank, N.A. as administrative and collateral agent, alongside participating lending institutions. The full amendment is available as Exhibit 10.1.

Insights

Credit markets analyst

Expanded commitments to $1.45B add liquidity flexibility.

California Resources increased the aggregate elected commitments under its credit facility from $1.15B to $1.45B and added lenders. An elected commitment reflects committed borrowing capacity within a revolving credit line.

This amendment can support working capital and general corporate needs if drawn, but it does not by itself change leverage or cash flow. Actual impact depends on future borrowings and terms embedded in the amendment.

The effective date is October 29, 2025. Subsequent disclosures may detail pricing, covenants, or maturity structure, which would frame the practical availability of the expanded capacity.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did CRC change in its credit facility?

It entered a Seventh Amendment that added certain new lenders and increased the aggregate elected commitment amount.

How much did CRC increase its commitments under the facility?

The aggregate elected commitment amount rose from $1.15 billion to $1.45 billion.

When did the amendment take effect for CRC (NYSE: CRC)?

The amendment was effective October 29, 2025.

Who is the administrative and collateral agent on CRC’s facility?

Citibank, N.A. serves as the administrative agent and collateral agent.

Where can investors find the full amendment document?

The Seventh Amendment is filed as Exhibit 10.1.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/31/2025 - 04:30 PM EDT Learn about SEC filing dates

0001609253false00016092532025-10-292025-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 8-K

_____________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 29, 2025

_____________________

California Resources Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware			001-36478						46-5670947
(State or Other Jurisdiction of Incorporation)			(Commission File Number)						(IRS Employer Identification No.)
1 World Trade Center
Suite 1500
Long Beach
California						90831
(Address of Principal Executive Offices)						(Zip Code)

Registrant’s Telephone Number, Including Area Code: (888) 848-4754

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock			CRC			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01    Entry into a Material Definitive Agreement.

On October 29, 2025, California Resources Corporation (the “Company”) entered into an amendment (the “Seventh Amendment”) to the Amended and Restated Credit Agreement, dated as of April 26, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time), with Citibank, N.A., as administrative agent and collateral agent, and the banks, financial institutions and other lending institutions from time to time parties thereto. The purpose of the Seventh Amendment was to, among other things, (i) add certain new lenders to the facility, and (ii) increase the aggregate elected commitment amount of the lenders from $1.15 billion to $1.45 billion. The above description of the Seventh Amendment is not complete and is qualified in its entirety by reference to the full text of the Seventh Amendment, which is filed as Exhibit 10.1 hereto and incorporated by reference herein.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.						Description
10.1						Seventh Amendment to Amended and Restated Credit Agreement, entered into effective as of October 29, 2025.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

*    Certain portions of this exhibit (indicated by “[*****]”) have been omitted pursuant to Item 601(b)(10) of Regulation S-K.

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			California Resources Corporation
			/s/ Michael L. Preston
			Name:			Michael L. Preston
			Title:			Executive Vice President, Chief Strategy Officer and General Counsel

DATED: October 31, 2025