California Resources Corporation reported first quarter 2023 operational and financial results. "We're off to a great start this year with strong quarterly free cash flow driven by operational execution and natural gas markets in California, which underscores the quality of our asset portfolio and commodity diversification strategy," said Francisco Leon, President and Chief Executive Officer. "We made good progress in [...]
California Resources Corp. today announced a storage-only Carbon Dioxide Management Agreement between Carbon TerraVault Holdings, LLC , a subsidiary of CRC that provides services including the capture, transport and storage of carbon dioxide , and Yosemite Clean Energy, LLC . CRC also announced a second storage-only CDMA between CTV and InEnTec Inc. . "2023 began on a good note for Carbon TerraVault as we continued to [...]
California Resources Corp. , an independent energy and carbon management company committed to energy transition, today announced that Manuela Molina has been appointed as Executive Vice President and Chief Financial Officer, effective May 8, 2023. As previously announced, CRC's prior CFO Francisco Leon was named President and Chief Executive Officer and a member of the Company's Board of Directors as of April 28, 2023 [...]
California Resources Corp. announced today that it will host its first quarter 2023 financial results conference call on Tuesday, May 2nd at 1:00 p.m. Eastern Time . The Company's earnings will be released the day before the conference call following the market close. We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10177066/f8cf780338. Callers who [...]
California Resources Corp. announced today a strategic realignment of the Company's business operations and structure. The Company intends to reduce costs to align with activity levels, increase its financial flexibility and optimize its portfolio of assets. The Company believes that the combination of these actions will allow it to continue to strengthen shareholder returns. The Company is also repositioning the business [...]
California Resources Corporation , an independent oil and natural gas company committed to energy transition in the sector, today reported fourth quarter and full year 2022 operational and financial results. "CRC continued to deliver as we closed out 2022 with record operating cash flow which allowed us to return $372 million to shareholders. Given our positive outlook on 2023 free cash flow generation, we are increasing [...]
Carbon TerraVault Holdings, LLC , a subsidiary of California Resources Corp. , today announced it has assembled a consortium of organizations across industry, technology, academia, national labs, community, government, and labor, to pursue U.S. Department of Energy funding under its Regional Direct Air Capture Hubs Initiative to create the California DAC Hub, the state's first full-scale DAC plus storage network of [...]
California Resources Corp. announced today that it will host its fourth quarter and full year 2022 financial results conference call on Friday, February 24th at 1:00 p.m. Eastern Time . The Company's earnings will be released the day before the conference call following the market close. We encourage participants to pre-register for the conference call using the following link [...]
California Resources Corp. received an A- from CDP for its 2022 climate disclosure, securing a score at CDP's Leadership Level for the fourth year in a row. This accomplishment is further evidence of CRC's commitment to maintaining a strong ESG and sustainability platform. Mac McFarland, CRC's President and CEO, stated, "We are extremely pleased with CDP's scoring of our 2022 climate disclosure. Our consistent leadership [...]
California Resources Corp. today announced a Carbon Dioxide Management Agreement between Carbon TerraVault Holdings, LLC and Grannus, LLC , an independent clean-tech company that is building a portfolio of blue ammonia and hydrogen production facilities to supply the agriculture, mobility and marine fuel markets, to sequester 370,000 metric tons of carbon dioxide per annum at CTV III from a new blue ammonia and hydrogen [...]
California Resources Corp. announced today that the Company's executives will be participating in the following in-person events in January 2023: Goldman Sachs Energy and Clean Technology Conference on January 5 in Miami, FL TD Securities London Energy and Power Conference on January 9 - 10 in London, UK CRC's presentation materials will be available the day of the event on the Earnings and Presentations page in the [...]
California Resources Corp. today announced a Carbon Dioxide Management Agreement between Carbon TerraVault JV Holdco, LLC and Lone Cypress Energy Services, LLC , an independent energy company focused on the development of low-carbon hydrogen generation facilities and energy infrastructure, to sequester 100,000 metric tons of carbon dioxide per annum from a newly constructed blue hydrogen plant at the Elk Hills Field in [...]
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