California Resources Corporation

California Resources Corporation to combine with Aera Energy

February 7, 2024

Oil and Gas 360 Transaction highly accretive across key 2024E financial metrics Complementary assets to significantly scale E&P business and expand leading carbon management platform 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

California Resources Corporation appoints Nelly Molina as Executive Vice President and Chief Financial Officer

May 1, 2023

Oil and Gas 360 LONG BEACH, Calif.–(BUSINESS WIRE)– California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Manuela (Nelly) Molina has been appointed as Executive Vice President and Chief Financial Officer, effective May 8, 2023. As previously announced, CRC’s prior CFO Francisco Leon was named President and Chief Executive Officer and

California Resources Corporation initiates strategic realignment of business operations and corporate structure to maximize cash flow per share

February 27, 2023

Oil and Gas 360 Francisco J. Leon to Succeed Mark A. McFarland as President and Chief Executive Officer McFarland to Continue as a Non-Executive Director and Chair the Board of Carbon TerraVault, CRC’s Carbon Management Business, to Oversee its Continued Growth LONG BEACH, Calif.–(BUSINESS WIRE)– California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) announced today a strategic realignment of the Company’s business

California Resources Corporation announces carbon dioxide management agreement for CTV’s first permanent carbon storage project

December 8, 2022

Oil and Gas 360 LONG BEACH, Calif.–(BUSINESS WIRE)– California Resources Corporation (NYSE: CRC) today announced a Carbon Dioxide Management Agreement (CDMA) between Carbon TerraVault JV Holdco, LLC (CTV JV) and Lone Cypress Energy Services, LLC (Lone Cypress), an independent energy company focused on the development of low-carbon hydrogen generation facilities and energy infrastructure, to sequester 100,000 metric tons (MT) of carbon

California Resources Corporation announces updated and expanded ESG goals

April 22, 2022

Goals build upon CRC’s commitment to sustainability, 2045 Full-Scope Net Zero …

California Resources Corporation agrees on comprehensive balance sheet restructuring with key creditors

July 16, 2020

Oil and Gas 360 Transaction to be implemented in pre-arranged Chapter 11 case Finally resolves leveraged capital structure inherited from 2014 spin-off Pre-arranged restructuring will eliminate over $5 billion of debt and mezzanine equity interest and consolidate CRC’s ownership of the Elk Hills power plant and cryogenic gas plant upon court approval Liquidity will be bolstered by $1.1 billion debtor-in-possession

E&P Forms $500 Million JV With PE Firm

July 23, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Colony Capital agrees to invest up to $500 million in California Resources Corporation California Resources Corporation (stock ticker: CRC) has formed a strategic joint venture with Colony HB2 Energy, the energy investment management arm of private equity firm Colony Capital (stock ticker: CLNY), in which Colony will fund the development of

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