California Resources Corporation

California Resources Corporation is an independent energy and carbon management company focused on the exploration, development, and production of oil and natural gas resources within California. The company's operations are strategically divided into two key segments: Oil and Natural Gas, and Carbon Management. In its core energy business, CRC extracts and produces crude oil, oil condensate, natural gas liquids, and natural gas, serving as a vital supplier to California's refineries, marketers, and other end-users. Beyond traditional energy production, CRC is a pioneer in carbon management solutions through its Carbon TerraVault initiative. This segment is dedicated to building, installing, operating, and maintaining comprehensive carbon capture, utilization, and storage (CCUS) infrastructure, including CO2 capture equipment, transportation assets, and secure underground storage facilities. Furthermore, the company leverages its integrated business model by owning and operating power generation facilities, including smaller gas-fired plants, which provide essential electricity for its oil and natural gas operations, enhancing operational efficiency and reliability. This dual focus on responsible energy production and innovative carbon management positions CRC as a unique player in the evolving energy landscape.