Core Insights - California Resources Corporation (CRC) reported significant financial improvements and operational results for 2024, highlighting the successful integration of the Aera merger and achieving over 70% of targeted synergies [5][6][9]. Fourth Quarter 2024 Highlights - Generated $206 million in net cash flow from operating activities and $118 million in free cash flow, with a reported net income of $33 million and adjusted net income of $84 million [5][7]. - Average net production was 141 thousand barrels of oil equivalent per day (MBoe/d), with 79% being oil [5][7]. - Returned $92 million to shareholders, approximately 78% of fourth quarter free cash flow, through share repurchases and dividends [5][7]. Full Year 2024 Highlights - Total net cash flow from operating activities reached $610 million, with free cash flow of $355 million and a net income of $376 million [5][7]. - Average net production for the year was 110 MBoe/d, with 73% being oil [5][7]. - Returned $303 million to shareholders, about 85% of free cash flow, through share repurchases and dividends [5][7]. 2025 Outlook and Highlights - Capital investments are expected to range between $285 million and $335 million, with net production projected at 132 to 138 MBoe/d [5][11]. - The company aims to achieve the remaining $65 million in Aera-related synergies by year-end 2025 [5][11]. - CRC plans to run a one rig program in the first half of 2025, increasing to two rigs in the second half [10][11]. Shareholder Returns and Dividend Announcements - Since mid-2021, CRC has returned approximately $1,060 million to shareholders, including $793 million in share repurchases and $267 million in dividends [12][13]. - A quarterly cash dividend of $0.3875 per share was declared, payable on March 21, 2025 [14]. Balance Sheet and Liquidity - As of year-end 2024, CRC had $354 million in available cash and $983 million in available borrowing capacity, totaling liquidity of $1,337 million [16][17]. - The company reaffirmed its $1,500 million borrowing base under its Revolving Credit Facility, extending its maturity date to March 2029 [15][16]. 2024 Sustainability Highlights - CRC achieved a 'Grade A' certification for methane emissions performance and eliminated 311 gas venting pneumatics, aligning with 2030 methane reduction goals [18][25]. - The company delivered over 112 million barrels of water for agricultural use, supporting local agriculture [25].

Core Insights - Carbon TerraVault Holdings, LLC (CTV) has signed a Memorandum of Understanding with National Cement Company of California to establish California's first net zero cement facility, highlighting its commitment to decarbonization in hard-to-abate sectors [1][2] - CTV has received the first Class VI well permits from the EPA for carbon dioxide (CO₂) storage, which is a significant regulatory milestone for the company [2][6] - The company is focused on executing its first carbon capture and storage (CCS) project at Elk Hills in 2025, with a project pipeline approaching 9 million metric tons per year [2][6] 2024 Highlights - CTV expanded its CO₂ storage portfolio by 70%, adding 134 million metric tons (MMT) in Class VI permit applications, bringing the total CO₂ storage capacity submitted to the EPA for review to 325 MMT [6] - The company signed agreements for 5.4 million metric tons per annum (MMTPA) of CO₂ management with major industrial partners [6] - CTV was awarded $12 million in funding and selected for an additional $35 million from the U.S. Department of Energy to support decarbonization projects in California [6] 2025 Outlook and Highlights - Construction of California's first CCS project at CRC's Elk Hills cryogenic gas plant is planned to commence in Q2 2025, with the first CO₂ injection anticipated by year-end [6] - CTV's total CO₂ emissions from CCS projects under consideration now stands at nearly 9 MMTPA [6] - Expected capital investments for 2025 are projected to be between $20 million and $35 million, with $14 million to $18 million allocated for the CCS project at Elk Hills [6][9] Financial Results - In Q4 2024, CMB expenses were reported at $20 million, up from $13 million in Q3 2024, with total expenses for the year reaching $56 million compared to $37 million in 2023 [5] - General and administrative expenses for Q4 2024 were consistent at $5 million, with total expenses for the year at $15 million, compared to $12 million in 2023 [5]

Carbon TerraVault Expects to Transport and Sequester up to 1 Million Metric Tons of CO2 Emissions Annually LONG BEACH, Calif., March 03, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) and its carbon management business, Carbon TerraVault (CTV), today announced the signing of a Memorandum of Understanding1 (MOU) with National Cement Company of California Inc. (National Cement) to provide carbon management services for the “Lebec Net Zero” - a first-of-its-kind initiative to produce car ...

Core Insights - California Resources Corporation (CRC) is expected to report quarterly earnings of $0.96 per share, a 3.2% increase year-over-year, with revenues projected at $907.09 million, reflecting a 24.9% year-over-year increase [1] Earnings Estimates - Over the past 30 days, the consensus EPS estimate has been adjusted downward by 1.3%, indicating a reassessment by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [3] Key Metrics - Total Production Per Day is estimated to reach 141.99 million barrels of oil equivalent, up from 98 MBoe/d a year ago [5] - Production Per Day - Oil is estimated at 111.51 million barrels, compared to 61 MBbl/d in the same quarter last year [5] - Production per day - Natural Gas is estimated at 119.54 million cubic feet, down from 155 MMcf/d a year ago [6] - Production Per Day - NGL is expected to be 10.92 million barrels, slightly down from 11 MBbl/d last year [6] Price Realizations - Average realized prices with derivative settlements for Oil are expected to be $70.80, compared to $71.34 in the same quarter last year [7] - Average realized prices for Natural Gas are projected at $3.15, down from $4.66 in the same quarter last year [7] Stock Performance - California Resources shares have decreased by 11.4% over the past month, while the Zacks S&P 500 composite has declined by 2.2% [8] - CRC holds a Zacks Rank 3 (Hold), indicating it is expected to closely follow overall market performance in the near term [8]

Core Insights - California Resources Corporation (CRC) and Range Resources (RRC) are two stocks in the Oil and Gas - Exploration and Production sector in the United States, with CRC currently presenting a better value opportunity compared to RRC [1][7]. Valuation Metrics - CRC has a forward P/E ratio of 11.16, while RRC has a forward P/E of 11.68, indicating that CRC is relatively cheaper [5]. - The PEG ratio for CRC is 0.95, suggesting a favorable valuation considering its expected earnings growth, whereas RRC has a significantly higher PEG ratio of 4.49 [5]. - CRC's P/B ratio stands at 0.88, which is lower than RRC's P/B ratio of 2.34, further indicating that CRC may be undervalued [6]. Earnings Outlook - CRC is experiencing an improving earnings outlook, which contributes to its stronger Zacks Rank of 2 (Buy), compared to RRC's Zacks Rank of 3 (Hold) [3][7].

Group 1 - California Resources Corporation (CRC) announced a partial redemption of its 7.125% Senior Notes due 2026, amounting to $123 million, scheduled for February 28, 2025 [1][2] - The redemption will occur at a price of 100% of the principal amount, plus any accrued and unpaid interest, resulting in $122.5 million of Notes remaining outstanding post-redemption [2] - CRC is an independent energy and carbon management company focused on energy transition and environmental stewardship, aiming to maximize the value of its land and mineral ownership through decarbonization projects [3]

Core Viewpoint - The article emphasizes the importance of value investing and highlights California Resources (CRC) as a strong value stock based on its metrics and Zacks Rank [2][3][6] Company Analysis - California Resources (CRC) has a Zacks Rank of 2 (Buy) and an A for Value, indicating it is among the strongest value stocks currently available [3] - The P/B ratio for CRC is 1.27, which is significantly lower than the industry average of 3.35, suggesting that CRC is undervalued [4] - CRC's P/S ratio stands at 1.45, compared to the industry's average P/S of 2.19, further indicating its potential undervaluation [5] - The metrics suggest that CRC is likely being undervalued, and its strong earnings outlook makes it an attractive investment opportunity [6]

Core Viewpoint - California Resources Corporation (CRC) is experiencing significant selling pressure, with a 5.3% decline over the past four weeks, but is positioned for a potential trend reversal as it enters oversold territory, supported by analysts predicting better earnings than previously expected [1] Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to identify oversold stocks, with a reading below 30 indicating that a stock may be oversold [2] - CRC's current RSI reading is 28.43, suggesting that the heavy selling may be exhausting, indicating a potential bounce back towards equilibrium in supply and demand [5] Group 2: Earnings Estimates - There is a strong consensus among sell-side analysts that CRC's earnings estimates for the current year have increased by 12.2% over the last 30 days, which typically correlates with price appreciation in the near term [5] - CRC holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further indicating a potential turnaround [6]

Core Points - California Resources Corporation (CRC) announced a total contribution of $100,000 to support wildfire relief efforts in California, with funds equally distributed between the California Community Foundation and the Los Angeles Fire Department Foundation [1][2] - The California Community Foundation will use the donation to assist families in rebuilding their lives, focusing on housing, food, and other critical needs, while the Los Angeles Fire Department Foundation will allocate funds for vital equipment and support for firefighters [2] - CRC has also initiated a company match campaign to support the American Red Cross, which provides essential aid such as food, shelter, and financial assistance [3] Company Overview - California Resources Corporation is an independent energy and carbon management company committed to energy transition and environmental stewardship, focusing on responsibly sourced energy and decarbonization projects [4] Partner Organizations - The California Community Foundation has been serving Los Angeles County since 1915, managing $2.3 billion in assets and overseeing 1,900 charitable foundations, with a mission to create lasting community impact [5] - The Los Angeles Fire Department Foundation, established in 2010, serves as the nonprofit arm of the LAFD, bridging funding gaps for essential tools and programs to support firefighters [6] - The American Red Cross provides disaster relief, blood supply, and humanitarian aid, relying on volunteers and public generosity to fulfill its mission [7]

Core Points - California Resources Corporation (CRC) announced a total contribution of $100,000 to support wildfire relief efforts in California, with funds equally distributed between the California Community Foundation and the Los Angeles Fire Department Foundation [1][2] - The California Community Foundation will use the donation to assist families in rebuilding their lives, focusing on housing, food, and other critical needs, while the Los Angeles Fire Department Foundation will allocate funds for vital equipment and support for firefighters [2] - CRC has also initiated a company match campaign to support the American Red Cross, which provides essential aid such as food, shelter, and financial assistance [3] Company Overview - California Resources Corporation is an independent energy and carbon management company committed to energy transition and environmental stewardship while providing responsibly sourced energy [4] - The company focuses on maximizing the value of its land and mineral ownership, as well as developing carbon capture and storage (CCS) and other emissions-reducing projects [4] Related Organizations - The California Community Foundation has been serving Los Angeles County since 1915, managing $2.3 billion in assets and overseeing 1,900 charitable foundations, with a mission to create lasting impact in the region [5] - The Los Angeles Fire Department Foundation, established in 2010, serves as the nonprofit arm of the Los Angeles City Fire Department, bridging funding gaps for essential tools and programs to help firefighters protect the community [6] - The American Red Cross provides disaster relief, supplies about 40% of the nation's blood, and supports veterans and military families, relying on volunteers and public generosity [7]