Articles from California Resources Corporation

LONG BEACH, Calif., Dec. 16, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, announced today that the Company’s executives will be participating in the following events in January 2025:

LONG BEACH, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Clio C. Crespy will join the Company as Executive Vice President and Chief Financial Officer, effective January 1, 2025. CRC’s current CFO Nelly Molina will be stepping down at the end of the year.

Delivering Improved Capital Efficiencies and Advancing Leading Carbon Management Platform

LONG BEACH, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) today announced the publication of its 2023 Sustainability Report detailing the Company’s sustainability initiatives and strategy as well as progress toward its environmental, social and governance (ESG) goals.

Board Approval Represents Major Step for California’s First CCS Project, Critical to Achieving State’s Carbon Neutrality Goal

Award Advances Development of CTV III Carbon Storage Project in California

LONG BEACH, Calif., Oct. 07, 2024 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) plans to release its third quarter 2024 financial results on Tuesday, November 5th after market close. The Company will hold a conference call to discuss these financial results on Wednesday, November 6th at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).

California Resources Corporation (NYSE: CRC) and the Los Angeles Rams today announced “Football Without the Footprint,” a carbon management initiative that will allow the Rams to reduce or offset carbon emissions from the team’s operations in coming years. CRC and the Rams will also invest in community impact efforts such as garden builds, beautification projects, and science, technology, engineering, art, and math (STEAM) initiatives that will integrate carbon management practices and education. Through this partnership, CRC will become the Rams’ Official Carbon Management Partner.

Sage Geosystems, Inc. (Sage) and California Resources Corporation (NYSE: CRC) today announced the signing of a Memorandum of Understanding (MOU) to establish a collaborative framework for pursuing commercial projects and joint funding opportunities related to subsurface energy storage and geothermal power generation in California.

California Resources Corporation (NYSE: CRC), an independent energy and carbon management company, today announced the launch of its Carbon TerraVault I (CTV I) Elk Hills Community Benefits Plan (CBP) in Kern County, California.

California Resources Corporation (NYSE: CRC) (the “Company”) today announced the consideration payable as set forth in the table below in respect of the previously announced cash tender offer (the “Tender Offer”) to purchase up to $300 million aggregate principal amount of its outstanding 7.125% senior notes due 2026 (the “2026 Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated August 8, 2024, as amended (the “Offer to Purchase”).

California Resources Corporation (NYSE: CRC) (the “Company”) today announced the early tender results in respect of the previously announced cash tender offer (the “Tender Offer”) to purchase up to $300 million aggregate principal amount of its outstanding 7.125% senior notes due 2026 (the “2026 Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated August 8, 2024, as amended (the “Offer to Purchase”).

California Resources Corporation (NYSE: CRC) (the “Company”) previously announced the commencement of a cash tender offer (the “Tender Offer”) to purchase up to $200 million aggregate principal amount of its outstanding 7.125% senior notes due 2026 (the “2026 Notes”). The Company hereby amends the Tender Offer to purchase for cash up to $300 million aggregate principal amount of the 2026 Notes (as such aggregate principal amount may be increased or decreased by the Company, the “Maximum Tender Amount”). The Tender Offer is being made pursuant to an Offer to Purchase, dated August 8, 2024, as amended by the terms set forth herein (the “Offer to Purchase”). Other than the increase to the Maximum Tender Amount, no other terms of the Tender Offer have changed.

California Resources Corporation (NYSE: CRC) (the “Company”) announced today the pricing of an upsized private offering of $300 million in aggregate principal amount of its 8.250% senior unsecured notes due 2029 (the “Notes”). The offering size was increased from the previously announced $200 million aggregate principal amount. The Notes were priced at 101% of par, plus accrued and unpaid interest from June 5, 2024. The Notes will mature on June 15, 2029, pay interest at the rate of 8.250% per year and are payable semi-annually on June 15 and December 15 of each year. The first interest payment will be made on December 15, 2024. The Offering is expected to close on August 22, 2024, subject to customary closing conditions.

California Resources Corporation (NYSE: CRC) (the “Company”) announced today the commencement of a cash tender offer (the “Tender Offer”) to purchase up to $200 million aggregate principal amount of its outstanding 7.125% senior notes due 2026 (the “2026 Notes”) upon the terms and conditions described in the Company’s Offer to Purchase, dated August 8, 2024 (as may be amended or supplemented, the “Offer to Purchase”).

California Resources Corporation (NYSE: CRC) (the “Company”) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $200 million in aggregate principal amount of its 8.250% senior unsecured notes due 2029 (the “Notes”). The Notes are being offered as additional notes under the indenture dated as of June 5, 2024, as may be supplemented from time to time (the “Indenture”), pursuant to which the Company previously issued $600 million aggregate principal amount of 8.250% Senior Notes (the “Existing Notes”). The Notes will have substantially identical terms, other than the issue date and issue price, as the Existing Notes, and the Notes and the Existing Notes will be treated as a single series of securities under the Indenture and will vote together as a single class. Except with respect to Notes offered pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Notes will have the same CUSIP and ISIN numbers as, and will be fungible with, the Existing Notes immediately upon issuance.

California Resources Corporation (NYSE: CRC) today reported financial and operating results for the second quarter of 2024. The Company plans to host a conference call and webcast at 1 p.m. ET (10 a.m. PT) on Wednesday, August 7, 2024. Participation details can be found within this release. In addition, supplemental slides have been posted to CRC’s website at www.crc.com.

Carbon TerraVault Holdings, LLC (CTV) today provided a second quarter 2024 update. California Resources Corporation (NYSE: CRC) conducts its carbon management business through CTV and its subsidiaries, which pursues carbon capture and sequestration (CCS) projects that are directly sited or within close proximity to significant sources of carbon dioxide (CO2) emissions in California.

California Resources Corporation (NYSE: CRC) plans to release its second quarter 2024 financial results on Tuesday, August 6th after market close. The Company will hold a conference call to discuss these financial results on Wednesday, August 7th at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).

California Resources Corporation (NYSE: CRC) announced today the completion of the all-stock combination with Aera Energy, LLC (Aera). The issuance of shares was approved by CRC shareholders at a special meeting held on June 26, 2024, where CRC shareholders voted in favor of the stock issuance necessary for the closing of the combination of CRC and Aera.

California Resources Corporation (NYSE: CRC) (the “Company”) announced today the pricing of its upsized private offering of $600 million in aggregate principal amount of its 8.250% senior unsecured notes due 2029 (the “Notes”) at par. The Notes will be guaranteed by all of the Company’s existing subsidiaries that guarantee its revolving credit facility, its 7.125% senior unsecured notes due 2026 and certain future subsidiaries. The offering is expected to close on June 5, 2024, subject to customary closing conditions.

California Resources Corporation (NYSE: CRC) (the “Company”) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $500 million in aggregate principal amount of senior unsecured notes due 2029 (the “Notes”). The Notes will be guaranteed by all of the Company’s existing subsidiaries that guarantee its revolving credit facility, its 7.125% senior unsecured notes due 2026 and certain future subsidiaries. The Company intends to use the net proceeds from this offering, cash on hand and borrowings under its revolving credit facility to repay the existing indebtedness of Aera Energy, LLC and its operating affiliate Aera Energy Services Company (together, the “Aera Companies”) in connection with the pending business combination with the Aera Companies (the “Aera Merger”).

California Resources Corporation (NYSE: CRC) today reported financial and operating results for the first quarter 2024. The Company plans to host a conference call and webcast on Wednesday, May 8th 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.

Carbon TerraVault (CTV) today provided an update on its first quarter 2024 operations. California Resources Corporation (NYSE: CRC) conducts its carbon management business through CTV which pursues carbon capture and sequestration (CCS) projects that are directly sited or within close proximity to significant sources of carbon dioxide (CO2) emissions in California.

California Resources Corporation (NYSE: CRC) received a “Grade A” certification through MiQ’s Methane Emissions Performance Standard for its operating assets in Los Angeles and Orange Counties. This is the first “Grade A” independently certified gas (ICG) designation that MiQ has presented to oil and natural gas operating assets in California and the Rocky Mountain region. This achievement demonstrates CRC’s dedication to its ESG goals and sustainability platform.