Every 8-K that California Resources Corporation (CRC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow CRC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CRC filings page.
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 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.
California Resources Corporation reports preliminary realized pricing and hedge results for the three months ended June 30, 2026. Management estimates a $190 million loss from net settlement of commodity derivatives, including a $164 million loss from commodity sales derivatives and a $26 million loss from natural gas purchase derivatives.
Estimated index prices were Brent $96.87 per Bbl, WTI $92.79 per Bbl and NYMEX Henry Hub $2.90 per Mcf. The company reports an average realized oil price of $91.64 per Bbl before derivatives and $76.50 per Bbl after derivative settlements, with NGLs at $49.62 per Bbl and gas at $1.84 per Mcf. All figures are preliminary, unaudited and not a comprehensive presentation of quarterly results.
California Resources Corporation completed a private offering of $550 million of 7.250% senior unsecured notes due 2035 and used the net proceeds, plus cash and/or revolver borrowings, to fund the redemption of $550 million of its 8.250% senior unsecured notes due 2029 at 104.125% of principal plus accrued interest.
The new notes mature on January 15, 2035, pay interest semi-annually each January 15 and July 15 starting in 2027, are guaranteed on a senior unsecured basis by key subsidiaries, and include customary covenants, optional redemption features after July 15, 2029, and a 101% repurchase offer upon certain change of control trigger events.
California Resources Corporation is privately issuing $550 million of 7.250% senior unsecured notes due 2035 at par. The notes will be guaranteed by subsidiaries that already back its credit facility and existing senior notes. The company expects net proceeds of about $541 million.
CRC plans to use these proceeds, along with borrowings under its revolving credit facility and/or cash on hand, to redeem all $550 million of its 8.250% senior notes due 2029 at a redemption price of 104.125% of principal plus accrued interest. The new notes are offered only to qualified institutional buyers under Rule 144A and to certain non‑U.S. investors under Regulation S.
California Resources Corporation plans a private offering of $550 million of senior unsecured notes due 2035. The company intends to use the proceeds, with its credit facility and/or cash on hand, to redeem all $550 million of its 8.250% senior unsecured notes due 2029 at 104.125% of principal plus accrued interest.
Excerpts of an offering memorandum show historical and pro forma data after the Berry merger, including total operating revenues of $119 million and a net loss of $711 million for the three months ended March 31 2026, and adjusted EBITDAX of $304 million for that period. As of May 31 2026, cash and cash equivalents were $32 million with no balance outstanding under the revolving credit facility.
California Resources Corporation reported first quarter 2026 results showing strong underlying operations but a large non-cash hedge loss. The company recorded a net loss of $711 million driven by an $848 million loss on commodity derivatives, while generating adjusted net income of $79 million and adjusted EBITDAX of $304 million.
Average net production was 154 MBoe/d, 81% oil, and net cash from operating activities was $99 million. CRC raised its 2026 adjusted EBITDAX guidance midpoint by 42% to $1,450 million, increased its capital budget to $520–$560 million to accelerate drilling, and ended the quarter with $1,276 million of liquidity. It returned $46 million to shareholders and its nine director nominees and auditor were approved at the 2026 annual meeting.
California Resources Corporation entered into a Ninth Amendment to its Amended and Restated Credit Agreement effective April 14, 2026. The amendment, with Citibank, N.A. as administrative and collateral agent and a syndicate of lenders, updates the pricing grid to reduce the company’s borrowing costs under the existing credit facility and makes other technical changes. The full terms are contained in the Ninth Amendment, filed as Exhibit 10.1.
California Resources Corporation completed an upsized private offering of an additional $350 million of 7.000% senior unsecured notes due 2034. These new notes are issued under the existing indenture and form a single series with the previously issued $400 million 7.000% senior notes due 2034.
The company intends to use the net proceeds, together with cash on hand and/or borrowings under its revolving credit facility, to redeem $350 million of its 8.250% senior unsecured notes due 2029 at 100% of principal plus the applicable premium and accrued interest. The redemption is expected to close on March 24, 2026, effectively refinancing higher-coupon debt with longer-dated 7.000% notes.
The notes are senior unsecured obligations guaranteed on a senior unsecured basis by existing subsidiary guarantors and certain future subsidiaries. They carry semi-annual interest payments each January 15 and July 15, include optional redemption features, and require a repurchase offer at 101% if specified change of control trigger events occur.
California Resources Corporation appointed Michael Helm as Vice President – Finance and Controller and designated him as its principal accounting officer effective March 16, 2026. Helm previously led Berry Corporation’s accounting function as Chief Accounting Officer and later served as its Chief Financial Officer, and earlier held senior accounting roles at CRC and other companies.
Senior Vice President and Controller Noelle Repetti is retiring effective March 16, 2026, after more than 11 years with the company. Her departure is stated not to result from any dispute or disagreement regarding operations, financial statements, internal controls, policies, or practices. CRC will enter into an Indemnification Agreement with Helm consistent with its existing form for directors and executive officers.
California Resources Corporation is raising new debt through an upsized private offering of $350 million aggregate principal amount of 7.000% senior unsecured notes due 2034, priced at 100.500% of par. These additional notes will form a single series with $400 million of existing 7.000% notes under the same indenture.
The notes mature on January 15, 2034 and pay 7.000% interest semi-annually starting July 15, 2026. CRC intends to use the net proceeds, along with cash on hand or borrowings under its revolving credit facility, to redeem $350 million of its 8.250% senior unsecured notes due 2029, at 100% of principal plus the Applicable Premium and accrued interest, with the redemption expected to be conditioned on completion of this new offering.
California Resources Corporation plans a private offering of $250 million of 7.000% senior unsecured notes due 2034. The company expects to use the net proceeds, along with cash and/or revolver borrowings, to redeem $250 million of 8.250% senior unsecured notes due 2029, at 100% of principal plus the applicable premium and accrued interest. The redemption is expected to be conditioned on completing the new notes offering, while the offering itself is not contingent on redemption. Exhibit data show 2025 pro forma adjusted EBITDAX of $1,453 million, free cash flow of $545 million, and pro forma average daily net production of 161 MBoe/d. As of March 6, 2026, the company had $2 million in cash and cash equivalents and $42 million drawn under its revolving credit facility.
California Resources Corporation reported strong fourth quarter and full-year 2025 results and issued 2026 guidance. For 2025, total operating revenues were $3,669 million versus $3,198 million in 2024, with net income of $363 million and adjusted net income of $359 million. Adjusted EBITDAX reached $1,241 million, and free cash flow was $543 million, the highest since 2021.
Average 2025 net production rose 25% year over year to 138 MBoe/d, while proved reserves increased to 654 MMBoe and proved undeveloped reserves grew 190%. The company returned $513 million to shareholders through $377 million of share repurchases and $136 million of dividends, and raised its annual dividend by 5% to $1.62 per share.
For 2026, California Resources targets about 12% production growth to 152–157 MBoe/d (81% oil), capital investments of $430–$470 million, and adjusted EBITDAX of $970–$1,070 million. Management also expects $80–$90 million of Berry merger synergies and plans first CO₂ injection at its Elk Hills CCS project in spring 2026, subject to commissioning and regulatory approval.
California Resources Corporation completed its previously announced all-stock merger with Berry Corporation (bry), making Berry a direct, wholly owned subsidiary of CRC. Each share of Berry common stock (other than excluded insider and subsidiary holdings) was converted into 0.0718 shares of CRC common stock, with cash paid instead of fractional shares.
The companies also amended CRC’s Amended and Restated Credit Agreement. Upon closing of the merger, CRC added an additional lender and increased the aggregate elected commitment amount under the credit facility from $1.45 billion to $1.46 billion. Berry’s restricted stock units and performance-based stock units were either cashed out if they had single-trigger change-in-control vesting, or converted into CRC restricted stock units using the same 0.0718 exchange ratio. CRC will provide required pro forma financial information for the combined company in a later amendment.
California Resources Corporation (CRC) announced a key regulatory milestone for its pending Berry Merger. The Hart-Scott-Rodino waiting period expired at 11:59 p.m. Eastern Time on November 10, 2025 for the combination under which Berry Corporation (bry) would become a direct, wholly owned subsidiary of CRC.
Closing still depends on other customary conditions, including Berry shareholder approval of the merger and prior authorization by the Federal Energy Regulatory Commission under Section 203 of the Federal Power Act. CRC’s Form S-4 registration statement became effective on November 3, 2025, and the definitive proxy statement/prospectus has been sent to Berry stockholders.
California Resources Corporation furnished an update on its financial condition and results of operations for the three and nine months ended September 30, 2025. The company shared these details via a press release attached as Exhibit 99.1 to this report.
The information in Item 2.02 and Exhibit 99.1 is being furnished, not filed, under the Exchange Act. The filing also includes forward‑looking statements regarding a proposed transaction involving CRC and Berry Corporation (bry), with plans to file a Form S‑4 containing a proxy statement/prospectus. It emphasizes that this communication is not an offer or solicitation to sell securities and outlines where investors can access future SEC documents related to the transaction.
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.
California Resources Corporation filed an 8-K reporting a material event that documents an indenture executed on October 8, 2025 among the company, identified guarantors, and a trustee. The filing also references an embedded Inline XBRL Cover Page Interactive Data File and is signed by Michael L. Preston, Executive Vice President, Chief Strategy Officer and General Counsel. The disclosure is brief and focuses on the existence and execution date of the indenture rather than financial terms, transaction size, or other contractual details.
California Resources Corporation (CRC) states that a Registration Statement on Form S-4 will be filed in connection with the proposed Berry merger and that Berry's definitive proxy statement/prospectus will be sent to Berry stockholders. The filing package will include a proxy statement that also serves as CRC's prospectus and will be available free at the SEC website and on CRC's and Berry's investor websites. The notice cites specific existing filings that contain related disclosure, including CRC's Form 10-K for the year ended December 31, 2024 (filed March 3, 2025), multiple Current Reports (including May 6, 2025 and June 23, 2025), and Berry's definitive proxy (filed April 7, 2025) and Annual Report for the year ended December 31, 2024 (filed March 13, 2025). The communication directs investors to SEC Forms 3/4/5 for officer and director ownership and references a press release dated September 24, 2025.
California Resources Corporation filed an 8-K disclosing several related documents and actions tied to the proposed Berry merger and financing. The company referenced an S-4 Registration Statement that will include a proxy statement/prospectus for the Berry Merger and said the definitive proxy/prospectus will be sent to Berry stockholders. The filing points readers to the SEC website and the companies' investor sites for free copies of the Registration Statement and proxy materials. The 8-K also lists a Sixth Amendment to the Amended and Restated Credit Agreement effective September 22, 2025, a company press release dated September 24, 2025, excerpts from an offering memorandum, and a Cover Page Interactive Data File in Inline XBRL. The filing is signed by Michael L. Preston, Executive Vice President, Chief Strategy Officer and General Counsel.
California Resources Corporation entered into an Agreement and Plan of Merger to acquire Berry Corporation in an all-stock transaction. At closing, each share of Berry common stock will be converted into 0.0718 shares of CRC common stock, and Berry will become a direct, wholly owned subsidiary of CRC. Certain Berry restricted stock units and performance units will vest and be cashed out, while others will convert into CRC-based equity awards using the same 0.0718 exchange ratio.
The deal is subject to multiple conditions, including approval by a majority of Berry shareholders, antitrust clearance under the HSR Act, Federal Power Act approval, effectiveness of a CRC Form S-4 registration statement, NYSE listing of the new CRC shares and the absence of material adverse effects. The merger agreement includes termination rights, a $12,044,370 termination fee payable by Berry in specified circumstances and expense reimbursements of up to $5,000,000 for either side in certain termination scenarios.
California Resources Corporation (CRC) states that a registration statement that will include Berry's proxy statement/prospectus is expected to be filed and, when definitive, will be mailed to Berry shareholders. The filing and related proxy materials will be available free on the SEC website and on CRC's and Berry's investor websites. The communication is not an offer to sell securities. CRC and Berry and certain of their directors, officers and employees may be participants in the solicitation of proxies; descriptions of their interests and ownership will be included in the proxy statement/prospectus when filed. Additional ownership details are available on Forms 3, 4 and 5 referenced on the SEC site.
California Resources Corporation (CRC) filed an 8-K announcing a block repurchase and related board change. On 23 June 2025 the company agreed to buy back 4,950,000 common shares from major shareholder IKAV at $46.00 per share, for a total consideration of $227.7 million. Settlement is expected on 25 June 2025. The transaction will be funded with existing cash and operating cash flow and falls under CRC’s previously disclosed $1.35 billion share-repurchase program.
Following the buyback, IKAV’s ownership will drop below the 5 % threshold that entitled it to nominate one board director under the July 2024 Stockholder Agreement. Consequently, IKAV-nominated director Mr. Bobby Saadati will resign from the Board upon closing. In addition, the lock-up restrictions that limited IKAV and its affiliates from selling CRC shares under the 2024 Registration Rights Agreement will terminate once the repurchase is completed.
The filing contains customary forward-looking statement disclaimers noting execution risk and referencing the company’s SEC filings for broader risk factors.
- Aggregate buyback size: $227.7 million (approx. 3.8 % of FY-end 2024 market cap if similar to share count; actual percentage not disclosed in filing).
- Source of funds: cash on hand and operating cash flow; no new debt indicated.
- Governance impact: one less shareholder-nominated director; board composition may shift toward management-nominated members.
Overall, the event reduces share count, returns capital to shareholders, and eliminates a special nomination right tied to a now-smaller shareholder, but also removes lock-up protections, potentially allowing IKAV to dispose of its remaining holdings on the open market.