California Resources Corporation CRC

Company Overview

California Resources Corporation (CRC) is an independent energy and carbon management company focused primarily on oil and natural gas production, power generation, carbon capture and storage (CCS), and related infrastructure in California. The company operates across upstream energy production and emerging low-carbon businesses, with operations concentrated in some of California’s largest hydrocarbon basins. CRC was formed in 2014 through a spin-off from Occidental Petroleum Corporation and has since evolved from a traditional exploration and production company into a broader energy transition and carbon management platform.

CRC’s primary revenue drivers historically have been crude oil, natural gas, and natural gas liquids production, supported by extensive mineral rights, processing infrastructure, and power assets throughout California. In recent years, the company has expanded its strategic focus toward carbon sequestration, renewable energy integration, and industrial decarbonization initiatives through its carbon management platform. CRC serves refinery, utility, industrial, and commercial energy markets within California, positioning itself as one of the state’s largest in-state energy producers with significant existing infrastructure and geologic storage capacity that may support long-term CCS development.