California Resources Corp (N:CRC)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1 World Trade Center, Suite 1500 LONG BEACH CA 90831 |
| Tel: | 1-818-6613731 |
| Website: | https://www.crc.com |
| IR: | See website |
| Key People | ||
| Francisco J. Leon President, Chief Executive Officer, Director | Manuela Molina Peralta Chief Financial Officer, Executive Vice President | Omar Hayat Executive Vice President - Operations, Senior Vice President - Operations |
| Michael L. Preston Executive Vice President, Chief Strategy Officer and General Counsel | Jay A. Bys Executive Vice President and Chief Commercial Officer | Chris D. Gould Executive Vice President, Chief Sustainability Officer |
| Business Overview |
| California Resources Corporation is an independent energy and carbon management company committed to energy transition. It produces the lowest carbon intensity oil in the United States. It is in the early stages of developing several carbon capture and storage projects in California. Its carbon management business, Carbon TerraVault, is focused on building, installing, operating, and maintaining carbon dioxide (CO2) capture equipment, transportation assets and storage facilities in California. It has operations in oil and gas basins, including San Joaquin Basin, Los Angeles Basin, Sacramento Basin, and other. It holds substantially all the working, surface and mineral interests in the Elk Hills field, which is its largest producing asset in the San Joaquin basin, and has a large ownership interest in several other oil fields located in the San Joaquin basin, including Buena Vista and Coles Levee. The Los Angeles Basin is a northwest-trending plain about 50 miles long and 20 miles wide. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, California Resources Corp revenues increased 3% to $2.8B. Net income increased 8% to $564M. Revenues reflect Oil Equivalent Production (Units/d)-Los increase of 6% to 19K barrels per day, Net loss from commodity derivatives increase of 98% to -$12M, Marketing of purchased natural gas increase of 28% to $401M. Net income benefited from Development Costs decrease of 49% to $198M. |
| Employees: | 970 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $3,849M as of Dec 31, 2023 |
| Annual revenue (TTM): | $2,801M as of Dec 31, 2023 |
| EBITDA (TTM): | $1,004M as of Dec 31, 2023 |
| Net annual income (TTM): | $564.00M as of Dec 31, 2023 |
| Free cash flow (TTM): | $387.00M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $44.00M as of Dec 31, 2023 |
| Shares outstanding: | 69,274,418 as of Jan 31, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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