California Resources Corp.
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About
California Resources Corp. is the largest oil and natural gas exploration and production company in California on a gross-operated basis. The company operates its world-class resource base exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, California Resources Corp. focuses on safely and responsibly supplying affordable energy for California by Californians.
Editor's note: Updated July 23, 2019.
Transactions
Marketed: California Resources San Joaquin Basin Conventional Opportunity
Marketed: California Resources San Joaquin Basin Conventional Opportunity
California Resources Sells Ventura Basin Operations for $102 Million
California Resources Sells Ventura Basin Operations for $102 Million
Marketed: California Resources San Joaquin Basin Opportunity
Marketed: California Resources San Joaquin Basin Opportunity
California Resources Announces $53 Million Bolt-on in San Joaquin Basin
California Resources Announces $53 Million Bolt-on in San Joaquin Basin
California Resources Lands $500 Million JV To Develop Historic Field
California Resources Lands $500 Million JV To Develop Historic Field
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New Financings
Priced private offering of 2026 senior unsecured notes previously announced Jan. 13 at par. Proceeds will…
California Resources Corp., announced the commencement of private offers to exchange, upon the terms and…
Purchased approximately 2.34 million shares of common stock for an aggregate purchase price of $50…
California Resources Corp. has closed a $1.3 billion first lien secured term loan facility. The 2017 term…
Priced a proposed new first-lien secured credit facility that would allow it to reduce outstanding…
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News
SilverBow Gears Up for Proxy Fight with Kimmeridge
Both SilverBow Resources and Kimmeridge Energy Management have proposed a slate of candidates for the board of directors with a vote set for May 21.
California Resources Corp. Nominates Christian Kendall to Board of Directors
California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.
Berry Bolts On More California Assets as Kern County M&A Continues
As Berry Corp. continues its aggressive hunt for growth opportunities outside of California, the E&P made a second bolt-on acquisition in Kern County in the fourth quarter.
California Resources Corp., Aera Energy to Combine in $2.1B Merger
The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.
Carbon Terravault’s CCS Plans Progress with Release of Draft Well Permits
If required regulatory approvals are secured, Carbon TerraVault will have permission to drill California’s first wells for underground CO2 sequestration in a depleted oil and gas field.
Quadrupling Energy Transition Financing and the Quest for Net Zero
McKinsey Partner Kassia Yanosek details private equity’s unique role in the climate transition, despite corporate uneasiness at partnering with firms, and the need to quadruple funding while government ramps up support.
California DAC Receives Nearly $12 Million from DOE
The funding will go towards Direct Air Capture facilities in the state.
California Resources Appoints Parra to Community Affairs Post
Nicole Parra comes to California Resources as vice president of community affairs with over 30 years of experience in legislation and politics.
Carbon TerraVault Enters Into Two CO2 Management Agreements, Submits Class VI Permit to EPA
Carbon TerraVault Holdings LLC entered into two separate storage-only CO2 management agreements with Yosemite Clean Energy and InEnTec.
California Resources Appoints New CFO Molina
Manuela Molina is succeeding Francisco Leon as California Resources Corp.’s new CFO following Leon’s appointment to CEO.
California Resources to Separate E&P, Carbon Businesses Under New CEO
California Resources sees the separation of its E&P and carbon management businesses as a way to strengthen shareholder returns under Francisco Leon, who will become president and CEO in April.Â
CTV Announces California DAC Hub Consortium
Led by Carbon TerraVault Holdings’ subsidiary CTV Direct, Kern Community College District, and EPRI, the California DAC Hub Consortium will pursue CO2 neutrality and community benefits in California.Â
Energy Transition in Motion (Week of Jan. 6, 2023): Advancing Projects, Investment
Here’s a look at some of this week’s renewable energy news.
CRC Scores ‘Leadership’ Level Ranking in CDP’s 2022 Climate Disclosure
This is the fourth year in a row that California Resources Corp. has achieved this level of recognition, emphasizing the company’s ESG commitments.Â
California Resources, Grannus Partner on Blue Hydrogen, Ammonia Project
The project aims to produce 150,000 mt of blue ammonia and 10,000 mt of blue hydrogen annually, according to a Jan. 4 news release from CRC.
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