California Resources Corp. (CRC), the state’s largest producer, late Wednesday joined a growing list of U.S. operators to seek Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Excessive debt related to its spinoff from Occidental Petroleum Corp. (Oxy), as well as Covid-19’s impact on energy demand, were the principal…
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The CEO of California Resources Corp. (CRC), the state’s largest independent, said Gov. Gavin Newsom may push for more oversight of the oil and gas industry, but more stringent rules unlikely would be onerous.
California Resources Corp.(CRC) on Thursday increased its full-year capital expenditures (capex) to a range of $650-700 million, including $100 million for joint venture (JV) funding, and raised its third quarter production forecast to 134,000-138,000 boe/d.CRC CEO Todd Stevens is focused on growth in the second half of the year, touting the company’s flagship Elk Hills interests, which are now totally under CRC’s control.
California Resources Corp. (CRC) the state’s largest exploration and production (E&P) company, is looking to grow and to strengthen its balance sheet by cutting debt and pursuing additional upstream joint ventures (JV), CFO Mark Smith said Thursday.
California Resources Corp. (CRC) will continue to stay patient to ride out low commodity prices, selling off assets, and continuing to reduce its billions of dollars of debt, CEO Todd Stevens said on a 3Q2016 earnings conference call Thursday.
Officials at struggling Los Angeles-based California Resources Corp. (CRC) on Monday reported a small increase in production for last year and the 4Q2015 amid a sea of red ink and operations cutbacks across the board. As a result, 2016 looks like more of the same, according to CRC senior executives.