CPP Investments holds a 49% equity stake in Aera Energy Combined company to play leading role in California's energy transition Canada Pension Plan Investment Board today announced certain affiliates of CPP Investments have signed a definitive agreement providing for a proposed merger of Aera Energy, LLC , and California Resources Corp. , an independent energy and carbon management company committed to the energy [...]
California Resources Corp. today announced the signing of a definitive merger agreement to combine with Aera Energy, LLC in an all-stock transaction. The transaction values Aera at approximately $2.1 billion, inclusive of Aera's net debt and certain other obligations1, and is expected to be immediately accretive. At closing, Aera's owners will receive 21.2 million shares of CRC's common stock, equal to approximately 22.9 [...]
California Resources Corp. updated select guidance ranges for the fourth quarter of 2023 in conjunction with its participation in various investor conferences later this month. CRC's fourth quarter of 2023 free cash flow1 is expected to range between $40 to $60 million primarily due to higher margins earned from natural gas marketing activities and lower investments in carbon capture and storage related subsurface land [...]
California Resources Corp. and its carbon management business, Carbon TerraVault , today announced that the U.S. Environmental Protection Agency released draft Class VI well permits for underground carbon dioxide injection and storage in CTV's 26-R reservoir located within the CTV I carbon capture and storage vault at the Elk Hills Field in Kern County, California. This marks an important step in advancing the development [...]
California Resources Corp. , an independent energy and carbon management company committed to energy transition, announced today that the Company's executives will be participating in the following events in January 2024: Goldman Sachs Global Energy and Clean Tech Conference on January 4 to 5 in Miami, FL TD Global Energy Conference on January 8 to 9 in London, UK RBC Capital Markets Energy Transition: The Future of [...]
California Resources Corp. , an independent energy and carbon management company committed to energy transition, announced today that the Company's executives will be participating in the following event in December 2023: Morgan Stanley Energy & Clean Tech Symposium on December 6 in New York City, NY CRC's presentation materials will be available the day of the event on the Earnings and Presentations page in the Investor [...]
California Resources Corporation , an independent energy and carbon management company committed to energy transition, today reported third quarter 2023 operational and financial results. "CRC's strong third-quarter performance demonstrates the hard work of our team and the flexibility of the Company's business strategy to create value for shareholders across various fronts. Foundational to this success has been CRC's [...]
Carbon TerraVault , a subsidiary of California Resources Corp. which provides carbon management services that include capture, transport and storage of carbon dioxide for its customers, today provided an update on its operations. "During the third quarter, our team made tremendous progress on the Carbon TerraVault front by announcing California's first 100 thousand metric tons per year fully integrated capture to storage [...]
California Resources Corp. plans to release its third quarter 2023 financial results on Wednesday, November 1st after market close. The Company will hold a conference call to discuss these financial results on Thursday, November 2nd at 1:00 p.m. Eastern Time . We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10182061/fa45058ce0. Callers who [...]
California Resources Corp. today announced the publication of its 2022 Sustainability Update. The Update details the progress CRC made last year as it continues to work toward meeting a high standard for environmental, social and governance performance and its 2045 Full-Scope Net Zero Goal. "At CRC, we are dedicated to becoming an even more sustainable energy company while prioritizing health, safety, and the environment [...]
Lone Cypress Energy Services today announced the completion of the Front-End Engineering Design study for its Lone Cypress Hydrogen Project located at the Elk Hills Field in Kern County, California. The study encompassed a 65 metric tonnes per day steam methane reformation plant with an integrated post combustion carbon capture system, hydrogen liquefaction, storage, dispensing, and all associated balance of plant [...]
Carbon TerraVault Holdings, LLC , a subsidiary of California Resources Corp. , today announced that the California Direct Air Capture Hub has been selected to receive $11.8 million in funding from the U.S. Department of Energy under its Regional DAC Hubs Initiative related to the proposed development of California's first full-scale DAC plus storage network of regional hubs. DAC+S is a solution that is intended to remove [...]
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