California Resources outlines oil and gas strategy, carbon capture growth in corporate presentation

California Resources Corp

California Resources Corp

CRC

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  • California Resources outlined a plan to lift activity in 2H26 by three drilling rigs, targeting about 1% entry-to-exit gross production growth.
  • Raised 2026E adj. EBITDAX guidance to $1.4 billion-$1.5 billion at $91 Brent; 1Q26 adj. EBITDAX totaled $304 million.
  • Carbon TerraVault I began CO2 injection in May 2026 following final EPA clearance; project targets up to about 100,000 metric tons annually.
  • Net debt stood at $1.3 billion at March 31, 2026; liquidity was $1.28 billion with a $1.5 billion revolving credit facility borrowing base.
  • Merger synergy target increased to $90 million-$100 million; 2026E facilities capital cut by $10 million.


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