California Resources(NYSE) CRC

California Resources Corporation provides oil and gas for California homes. It also captures and stores carbon to help the environment. These services meet local energy needs and reduce industrial emissions.

Energy and Carbon Solutions

• Oil and Natural Gas: Produces crude oil and natural gas for refineries and marketers throughout the San Joaquin and Los Angeles basins.
• Carbon Management: Builds and operates Carbon TerraVault facilities to capture and permanently store carbon dioxide in deep underground reservoirs.
• Power Generation: Owns and operates the Elk Hills power plant and smaller gas-fired facilities to generate electricity for operations and the grid.

Strategic Growth and Expansion

• Acquired Berry Corporation on Dec. 18, 2025, to increase its energy production assets and market footprint.
• Entered an agreement in June 2026 to acquire Crimson Midstream Holdings to enhance pipeline market access and flow.
• Achieved the first injection at its carbon capture project during the second quarter of 2026.
• Formed the Carbon TerraVault joint venture with Brookfield to fund and develop large-scale carbon storage projects.

What Makes CRC Stand Out?

California Resources manages extensive land and mineral rights that provide a foundation for carbon storage projects. The company uses its existing energy infrastructure to lead the development of underground emissions-reduction technology.

Recent Financial Performance

• Total operating revenues reached $1.4 billion for the six months ended June 30, 2026.
• Net loss was $197 million for the six-month period ended June 30, 2026.
• Average daily production reached 152 MBoe/d (thousand barrels of oil equivalent per day) during the first half of 2026.
• Capital investments totaled $280 million for the six-month period ended June 30, 2026.
• Average realized oil prices after derivative settlements rose to $72.88 per barrel during the first half of 2026.

Bottom Line

California Resources has transitioned from a pure oil producer into a dual-focus energy and carbon management firm. This strategy combines traditional resource extraction with new technologies designed to lower the carbon intensity of California energy.