Vancouver, British Columbia--(Newsfile Corp. - August 11, 2025) - Canter Resources Corp. (CSE: CRC) (OTC Pink: CNRCF) (FSE: 6O1) ("Canter" or the "Company") a U.S.-focused lithium-boron exploration company, announces that, subject to regulatory approval, it intends to effect a consolidation of the Company's issued and outstanding common shares (the "Shares") on the basis of seven (7) existing Shares for one (1) new Share (the "Consolidation"). The Consolidation is being undertaken to enhance the Company's ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 001-36478 California Resources Corporation (Exact name of registrant as specified in its charter) (State or other jurisd ...

California Resources (CRC) Q2 2025 Earnings Call August 06, 2025 01:00 PM ET Company ParticipantsJoanna Park - VP - IR & TreasurerFrancisco Leon - President & CEOClio Crespy - EVP & CFOScott Hanold - MD - Energy ResearchJosh Silverstein - Managing DirectorZach Parham - Executive DirectorDavid Deckelbaum - MD - Sustainability & Energy TransitionNate Pendleton - Vice PresidentChris Gould - EVP, Chief Sustainability Officer & MD - CTV HoldingsMichael Furrow - Vice PresidentScott Gruber - Director - Oilfield Se ...

Financial Data and Key Metrics Changes - The company reported record quarterly returns to shareholders, returning nearly $290 million this quarter, which is more than 260% of its free cash flow [5] - Adjusted EBITDAX for the quarter was $324 million, exceeding consensus expectations, driven by strong commodity price realization, higher than expected production, and lower operating costs [12] - Free cash flow generated was $109 million, demonstrating the resilience and cash-generating power of the company's assets [12] - Year-to-date, the company has returned nearly $422 million to shareholders, with a record $287 million returned in the second quarter [13] Business Line Data and Key Metrics Changes - The company recorded net total production of 137,000 BOE per day, with average realizations at 97% of Brent before hedges and 100% after hedging [10] - First half 2025 costs were down approximately 11% from 2024, reflecting lower general and administrative expenses, lower non-energy operating costs, and lower taxes other than on income [11] - Total capital was $56 million, with 60% allocated to high return workovers and sidetracks [11] Market Data and Key Metrics Changes - The California Energy Commission is actively working to improve the oil and gas permitting process, which could provide greater flexibility for the company to access its extensive inventory [8] - The state is collaborating with refiners and the industry to ensure fuel reliability during the energy transition [7] Company Strategy and Development Direction - The company is focused on advancing its carbon and power platforms while returning meaningful capital to shareholders [4] - The company is strategically positioned to support California's energy transition, providing cleaner and more affordable in-state production while advancing decarbonization solutions [18] - The company plans to get California's first CCS project into operation, with construction authorization received from the EPA [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improving regulatory environment in California and the potential for new oil and gas permits [22] - The company expects to raise full-year production guidance, lower both cost and drilling capital expectations, and increase its adjusted EBITDAX forecast [14] - Management highlighted the importance of local production to address California's energy challenges, emphasizing the need for affordable and clean energy [23] Other Important Information - The company has slightly over $200 million remaining under its current share repurchase authorization, which was recently extended through June 2026 [14] - The company is committed to driving long-term shareholder value and providing shareholder returns, having returned about $1.5 billion in dividends and share repurchases since the inception of its program [38] Q&A Session Summary Question: What is the company's view on the regulatory changes in California regarding oil and gas permitting? - Management is optimistic about the changes and believes the state is actively looking to resolve the permitting situation to stabilize local production [22][24] Question: What is driving the underlying capital efficiency improvements? - The combination of strong assets and operational leadership has led to improved performance, with maintenance capital expected to be at the lower end of the previously guided range [28] Question: How does the company plan to allocate free cash flow going forward? - The company plans to remain opportunistic with share repurchases while balancing other strategic priorities, including redeeming the remainder of its 2026 notes [40] Question: What is the status of the Class six permitting process? - The company is encouraged by the progress and expects to receive incremental Class six permits in the near term [72] Question: How does the company view the potential Elk Hills power deal? - The company is focused on making the right deal that adds significant value to shareholders and is optimistic about the interest in clean power solutions [50][54]

Second Quarter 2025 Results August 5, 2025 2Q25 Key Takeaways 137MBOE/D 2Q25 NET PRODUCTION 80% 7% 13% Oil NGLs Gas See slide 24 for "Assumptions, Estimates and Endnotes". 2 1. RECORD QUARTERLY CAPITAL RETURNS TO SHAREHOLDERS1 2. ROBUST OPERATIONAL AND FINANCIAL PERFORMANCE 3. OPERATIONAL MOMENTUM CONTINUES IN 2025 $287MM 2Q25 TOTAL SHAREHOLDER RETURN1 $35 $252 Dividend SRP $165MM 2Q25 OPERATING CASH FLOW $56 $109 Capex Free Cash Flow * ▪ Repurchased $228MM of shares in a private deal at $46/sh and $24MM in ...

California Resources Corporation (CRC) came out with quarterly earnings of $1.1 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.6 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +20.88%. A quarter ago, it was expected that this company would post earnings of $0.83 per share when it actually produced earnings of $1.07, delivering a surprise of +28.92%.Over the last four quarte ...

California Resources Corporation Reports Second Quarter 2025 Financial and Operating Results Company Raises 2025E Production and Adjusted EBITDAX Guidance, Reduces Drilling, Completions and Workover Capital Program Returned Quarterly Record of $287 Million to Shareholders LONG BEACH, California, August 5, 2025 - California Resources Corporation (NYSE: CRC) reported financial and operating results for the second quarter of 2025. The Company is hosting a conference call and webcast at 1 p.m. ET (10 a.m. PT) o ...

Company Raises 2025E Production and Adjusted EBITDAX Guidance, Reduces Drilling, Completions and Workover Capital Program Returned Quarterly Record of $287 Million to Shareholders LONG BEACH, Calif., Aug. 05, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) reported financial and operating results for the second quarter of 2025. The Company is hosting a conference call and webcast at 1 p.m. ET (10 a.m. PT) on Wednesday, August 6, 2025. Conference call details can be found within this re ...

Carbon TerraVault JV Received Authorization to Construct CO2 Injection Wells From the U.S. EPA LONG BEACH, Calif., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Carbon TerraVault Holdings, LLC (CTV), a carbon management subsidiary of California Resources Corporation (NYSE: CRC), today provided an update on second quarter 2025 operating and financial results. “We remain intensely focused on executing CRC’s first CCS project at Elk Hills — a foundational step in enabling real decarbonization for California, capturing cro ...

Core Points - Canter Resources Corp. has issued 2,200,000 common shares at a deemed price of $0.07 per share to settle debts totaling $154,000 related to past management and consulting services [1][2][3] - The debt settlements are classified as related party transactions, with key executives receiving shares through their respective companies [2][3] - The shares issued are subject to a statutory hold period of four months following the debt settlements [4] Company Overview - Canter Resources Corp. is focused on critical mineral exploration, specifically advancing the Columbus Lithium-Boron Project and the Railroad Valley Lithium-Boron Project in Nevada, USA [5] - The company is employing a phased drilling approach at Columbus to explore brine targets for lithium-boron enrichment and aims to build a portfolio of high-quality projects to support technology and clean energy supply chains in North America [5]