California Resources Corp. , an independent California-based oil and gas exploration and production company, today issued the following statement on media speculation: ?Over the past five years, we have consistently pursued options to preserve and enhance the value of CRC and we are fighting hard for the best outcome for our shareholders and other stakeholders. We have significant operating flexibility and are focusing on [...]
California Resources Corp. today announced the termination of its private exchange and subscription offers and consent solicitation relating to its outstanding 8% Senior Secured Second Lien Notes due 2022 , 5½% Senior Notes due 2021 and 6% Senior Notes due 2024 . The Company has also terminated the private subscription agreements it entered into with certain significant holders of the Notes because the obligations [...]
California Resources Corp. announced today it is reducing its capital investment due to recent changes in the commodity market to a level that maintains the mechanical integrity of its facilities to operate them in a safe and environmentally responsible manner. CRC has effectively ceased investment in its internally funded field development and growth projects until the company sees a higher degree of market clarity. The [...]
California Resources Corp. , today announced the early participation results of its private exchange and subscription offers relating to its outstanding 8% Senior Secured Second Lien Notes due 2022 , 5½% Senior Notes due 2021 and 6% Senior Notes due 2024 . As of 5:00 p.m. New York City time on March 4, 2020, , the Offers and the subscriptions by certain significant holders of the Notes resulted in the participation [...]
California Resources Corp. , an independent California-based oil and gas exploration and production company, today reported a net loss attributable to common stock of $67 million, or $1.36 per diluted share, for the fourth quarter of 2019. Adjusted net income1 for the fourth quarter of 2019 was $36 million, or $0.73 per diluted share. For the full year of 2019, CRC reported a net loss attributable to common stock of $28 [...]
California Resources Corp. , an independent California-based oil and gas exploration and production company, announced that its executives will be participating in the following conferences in March: Mark Smith, CRC’s Senior Executive Vice President and Chief Financial Officer, will be presenting at the Raymond James 41st Annual Institutional Investors Conference at 10:25 am EST on March 2nd, 2020 in Orlando [...]
California Resources Corp. , today announced the commencement of private offers to exchange , upon the terms and conditions set forth in the offering memorandum and solicitation statement , dated February 20, 2020, and the related letter of transmittal, to all Eligible Holders of its outstanding 8% Senior Secured Second Lien Notes due 2022 , 5½% Senior Notes due 2021 and 6% Senior Notes due 2024 to exchange the [...]
California Resources Corp. received an A- from CDP for our 2019 climate disclosure, scoring at CDP’s Leadership Level. CRC received the highest ranking among all U.S. oil and gas companies, tying for first with one other U.S.-based E&P with global operations. This recognition highlights CRC’s differentiated value as a California E&P and the company’s ongoing commitment to provide sustainable, safe and [...]
California Resources Corp. will host its fourth quarter and full year 2019 financial results conference call on Wednesday, February 26th at 5:00 p.m. EST . The Company’s earnings and guidance will be released following the market close on the same date. We encourage participants to pre-register for the conference call webcast using the following link http://dpregister.com/10137361. Callers who pre-register will be [...]
California Resources Corp. , an independent California-based oil and gas exploration and production company, announced that Mark Smith, CRC’s Senior Executive Vice President and Chief Financial Officer, will be participating in the Goldman Sachs Global Energy Conference 2020 on January 7th - 8th, 2020, in Miami, Florida. Presentation materials will be available on the day of the event on the “Earnings and [...]
California Resources Corp. , an independent California-based oil and gas exploration and production company, today reported net income attributable to common stock of $94 million, or $1.89 per diluted share, for the third quarter of 2019. Adjusted net income1 was $17 million, or $0.35 per diluted share. Operational and financial highlights for the third quarter of 2019 were as follows: Third Quarter Highlights Reported [...]
California Resources Corp. , an independent California-based oil and gas exploration and production company, announced that Todd Stevens, CRC’s President and Chief Executive Officer, will be presenting at Bank of America Merrill Lynch’s 2019 Global Energy Conference. He will be presenting at 2:00 pm EST on November 13th in Miami, Florida. Presentation materials and the link to the live audio webcast will be [...]
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