California Resources Corporation
CRCQW
Other OTC17.12
USD
+0.87
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California Resources Corporation
CRCQW
(Other OTC)
Recent
price
17.12
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- California Resources Corporation (CRCQW) is an independent oil and natural gas company engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids primarily in California. The company operates across key assets including the Elk Hills Oil and Gas Field, the Wilmington Oil Field, and the San Joaquin Basin; it also focuses on carbon capture and storage (CCS) projects, energy transition initiatives, and low-carbon fuel production through its subsidiary Crimson Midstream. CRC holds interests in approximately 700,000 net acres of mineral acreage, targeting conventional and unconventional reservoirs to serve utility, industrial, and commercial customers in the western United States. Founded in 2014 and headquartered in Long Beach, California, CRC conducts its operations exclusively within the state, leveraging advanced technologies for enhanced oil recovery and emissions reduction. Its business segments encompass upstream production, midstream transportation via pipelines and terminals, and emerging carbon management solutions such as the California Carbon Capture and Storage Project. The company markets its hydrocarbons to refiners, marketers, and integrated energy firms, emphasizing sustainable practices amid California's regulatory environment. In recent developments, CRC has advanced its energy transition strategy through the 2024 acquisition of Aera Energy LLC, significantly expanding its asset base and production capacity to over 150,000 barrels of oil equivalent per day. The company secured a landmark $500 million financing commitment in early 2025 for CCS infrastructure development, enabling Class VI permit applications and partnerships with Occidental Petroleum for joint CO2 injection projects. Additionally, CRC launched new low-carbon intensity natural gas products in late 2024 and restructured its capital stack with convertible preferred equity issuances to support expansion amid volatile commodity prices.