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California Resources Corporation

Long Beach, California, United States · Energy, Oil And Gas, Renewable Energy · 1,632 employees

California Resources Corporation (CRC) is an independent energy and carbon management company committed to energy transition. CRC produces some of the lowest carbon intensity oil in the US and is focused on maximizing the value of its land, mineral and technical resources for decarbonization efforts.

Funding history

  • Debt Financing — $300.0M — Oct 2025
  • Venture - Series Unknown — $50.0M — Feb 2018

Recent signals

  • Jun 26, 2026: SEC 8-K (1.01): On June 26, 2026, California Resources Corporation completed a private offering of $550 million in 7.250% senior unsecured notes due 2035. The issuance follows the Indenture executed on the same date among the Company, its Guarantors, and Wilmington Trust as Trustee. The notes mature on January 15, 2035, with interest starting from June 26, 2026, payable semi-annually. The proceeds from this transaction are intended to redeem all outstanding $550 million of its higher interest 8.250% senior unsecured notes, which reflects a strategic move to lower financing costs and improve capital structure.
  • Mar 23, 2026: SEC 8-K (1.01): On March 23, 2026, California Resources Corporation entered into a material definitive agreement by completing an upsized private offering of $350 million aggregate principal amount of 7.000% senior unsecured notes due 2034. The notes are governed by an Indenture that includes amendments from previous agreements, with Wilmington Trust serving as trustee. The issued notes will mature on January 15, 2034, with interest payments scheduled every six months starting July 15, 2026. The net proceeds from this offering are intended for strategic business purposes, likely enhancing the company's financial flexibility and funding operations.
  • Mar 16, 2026: California Resources Corporation Appoints Michael Helm as Principal Accounting Officer
  • Mar 16, 2026: SEC 8-K (5.02): Michael Helm has been appointed as the Vice President – Finance and Controller of California Resources Corporation, effective March 16, 2026. In this role, he will also serve as the Company’s principal accounting officer. Helm, age 58, has a substantial background in finance, having previously led the accounting function at Berry Corporation after CRC's merger with Berry in December 2025. His prior experience includes serving as Chief Financial Officer at Berry and as Vice President and Corporate Controller at CRC from 2014 to 2017.
  • Dec 22, 2025: California Resources Corporation Signs Agreement with Middle River Power for Carbon Capture Solutions.
  • Dec 18, 2025: Acquired California Resources Corp acquires Berry Corporation
  • Oct 31, 2025: Raised $300.0M in Debt Financing
  • Oct 29, 2025: SEC 8-K (1.01): On October 29, 2025, California Resources Corporation entered into the Seventh Amendment to its Amended and Restated Credit Agreement with Citibank, N.A. as the administrative and collateral agent. This amendment adds new lenders and increases the aggregate elected commitment amount from $1.15 billion to $1.45 billion, thus enhancing the company’s financial capacity. This revision may strategically position California Resources Corporation to better manage its financial obligations and invest in future growth opportunities.

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