• California Resources Corporation posted a net loss of USD 711 million, driven primarily by a non-cash loss in fair value of outstanding commodity derivatives.
• Adjusted net income rose to USD 79 million; adjusted EBITDAX increased to USD 304 million.
• Net production averaged 154 MBoe/d with 81% oil; realized oil price rose to USD 74.53 per barrel without derivative settlements.
• Free cash flow swung to negative USD 32 million; shareholder returns totaled USD 46 million, including USD 36 million in dividends and USD 10 million in share repurchases.
• 2026 adjusted EBITDAX guidance was raised 42% to a midpoint of USD 1.45 billion; capital budget increased to USD 520 million-USD 560 million as drilling ramps to a seven-rig program in second-half 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. California Resources Corporation published the original content used to generate this news brief on May 05, 2026, and is solely responsible for the information contained therein.