California Resources Corporation (CRC) came out with quarterly earnings of $0.93 per share, missing the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $1.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.92%. A quarter ago, it was expected that this company would post earnings of $0.79 per share when it actually produced earnings of $1.02, delivering a surprise of 29.11%.Over the last four quarte ...

LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today reported financial and operating results for the fourth quarter and full-year 2023. The Company plans to host a conference call and webcast on Wednesday, February 28th at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time). Participation details can be found within this release. In addition, supplemental slides are posted to CRC’s website at www.crc.com. 2023 Highlights: Generated $653 million of net cash from operatin ...

LONG BEACH, Calif.--(BUSINESS WIRE)--Carbon TerraVault (CTV) today provided an update on its 2023 operations. California Resources Corporation (NYSE: CRC) conducts its carbon management business through Carbon TerraVault which pursues carbon capture and sequestration projects that are directly sited or within close proximity to significant sources of carbon dioxide (CO2) emissions in California. “During 2023, our team meaningfully advanced the expansion of our carbon management business by announcing new ...

Seasonality | --- | --- | --- | --- | |--------------------------------------------------------------------------|-----------------|-----------------|---------------| | U.S. federal statutory tax rate | 2023 \n21 % | 2022 \n21 % | 2021 \n21 % | | State income taxes, net | 5 | 9 | (81) | | Exclusion of income attributable to noncontrolling interests | — | — | (1) | | Changes in tax attributes | — | (2) | (8) | | Executive compensation | 1 | — | 2 | | Change in the U.S. federal valuation allowance | (2) | 2 | ...

California Resources Corporation (CRC) , an oil exploration and production company, announced a merger agreement with Aera Energy, LLC, in an all-stock deal valued at $2.1 billion.Details of the TransactionThe transaction includes Aera’s net debt and other obligations. Per the terms of the agreement, Aera’s owners will receive 21.2 million shares of CRC’s common stock at closing, which is equivalent to approximately 22.9% of CRC’s fully diluted shares. To facilitate the deal’s closure, expected in the secon ...

LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today announced the signing of a definitive merger agreement to combine with Aera Energy, LLC (Aera) 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% of CRC’s fully diluted s ...

California Resources Corporation. (NYSE:CRC) Q3 2023 Earnings Conference Call November 2, 2023 12:00 PM ET Company Participants Joanna Park - Vice President of Investor Relations, Treasurer Francisco Leon - President & Chief Executive Officer Manuela Molina - Executive Vice President & Chief Financial Officer Chris Gould - Executive Vice President & Chief Sustainability Officer, & Managing Director, CTV Holdings Jay Bys - Executive Vice President and Chief Commercial Officer Omar Hayat - Executive Vice Pres ...

As of September 30, 2023 NOTE 12 CONDENSED CONSOLIDATING FINANCIAL INFORMATION We have designated certain of our subsidiaries as Unrestricted Subsidiaries under the indenture governing our Senior Notes (Senior Notes Indenture). Unrestricted Subsidiaries (as defined in the Senior Notes Indenture) are subject to fewer restrictions under the Senior Notes Indenture. We are required under the Senior Notes indenture to present the financial condition and results of operations of CRC and its Restricted Subsidiarie ...

California Resources Corporation (OTCPK:CRCQW) Q2 2023 Earnings Conference Call August 1, 2023 1:00 PM ET Company Participants Joanna Park - Vice President, Investor Relations and Treasurer Francisco Leon - President and Chief Executive Officer Manuela Molina - Executive Vice President and Chief Financial Officer Chris Gould - Executive Vice President and Chief Sustainability Officer, and Managing Director, CTV Holdings Conference Call Participants Scott Hanold - RBC Capital Markets Kalei Akamine - Bank of ...

$0 2023E 2026E 2028E $400 $100 MID - HIGH CO2 CONCENTRATION PROJECTS (≥15% CO2 STREAM CONCENTRATION) ▪ Capital requirements for capture systems, while still significant, are expected to be on the lower end of the capture cost curve due to higher CO2 concentration of stream ▪ Potential LCFS expansion could provide further EBITDA potential ▪ Inflation Reduction Act of 2022 expands potential project opportunities ▪ CalCapture2is an advantaged low CO2 concentration project given its proximity to storage (insign ...