California Resources Corp. studying next steps after court ruling [Seeking Alpha]
California Resources Corporation (CRC)
NASDAQ:AMEX Investor Relations:
crc.com/investor-relations
Company Research
Source: Seeking Alpha
"As we assess next steps and potential timelines, we expect to continue to execute the capital and drilling programs described in our fourth quarter 2023 earnings release" and its 10-K filing, according to an 8-K filing on Thursday. The company reiterated that if it's unable to obtain new permits this year, it plans to run a one rig program with $200 million to $240 million total capital program in 2024 and expects a 5% to 7% entry-to-exit production decline rate. California Resources ( CRC ) dropped 8% in the wake of the court ruling on Thursday. CRC dropped 10% on Jan. 27, 2023 after disclosing a court order suspended the ability of Kern County, California, to rely on an existing environmental impact report for oil and gas permitting "We think there is a path for permit resumption, but the County must address those items before a permit process is reinstated," RBC analyst Scott Hanold, who has an outperform rating on CRC, wrote in a note on Thursday. "This uncertainty could w
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News
- California Resources Corporation (NYSE:CRC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- California Resources Reports First Quarter 2024 Financial and Operating Results [Yahoo! Finance]Yahoo! Finance
- Carbon TerraVault Provides First Quarter 2024 Update [Yahoo! Finance]Yahoo! Finance
- California Resources Reports First Quarter 2024 Financial and Operating ResultsBusiness Wire
- Carbon TerraVault Provides First Quarter 2024 UpdateBusiness Wire
CRC
Earnings
- 5/7/24 - Beat
CRC
Sec Filings
- 5/9/24 - Form 8-K
- 5/8/24 - Form 10-Q
- 5/7/24 - Form 4
- CRC's page on the SEC website