CRC on NYSE

California Resources Corporation

American oil company

California Resources Corporation is an American energy corporation engaged in hydrocarbon exploration in California. It is organized in Delaware and headquartered in Long Beach, California.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

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  • TickerCRC on NYSE1
  • Industrypetroleum industry1
  • HeadquartersLos Angeles1
  • Websitewww.crc.com
  • Legal formDelaware corporation1
  • Incorporated inDE4
  • Business address1 World Trade Center, Suite 1500, Long Beach, Ca 908314
  • Filer categoryLarge accelerated filer4

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OccidentalOilWellsElkHills
Photo: Antandrus at English Wikipedia, CC BY-SA 3.0, via Wikimedia Commons6

California Resources Corporation is an American energy corporation engaged in hydrocarbon exploration in California. It is organized in Delaware and headquartered in Long Beach, California. Its mineral acreage holdings in California constitute the largest privately held position in the state.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.5%Operating margin7
12.5%Net margin7
14.7%Revenue growth, 20257
9.9%Return on equity7
0.35×Debt to equity7
$543.0MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Oil And Natural Gas brought in 50% of the revenue California Resources Corporation broke down this way in fiscal 2025.

  1. Oil And Natural Gas$3.0B750%up 15% from 2024
  2. Reportable$2.9B750%up 15% from 2024
Business segments by year
Business segments202320242025
Oil And Natural Gas$2.0B$2.6B$3.0B
Reportable$2.0B$2.5B$2.9B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin11¢$333.0M
  • Other costs71¢$2.1B
  • Income tax5¢$139.0M
  • Profit12¢$363.0M

Out of $2.9B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending37¢$322.0M
  • Dividends paid16¢$136.0M
  • Share buybacks44¢$377.0M
  • Kept or used elsewhere3¢$30.0M

Out of $865.0M of cash from operations.7

Financial statements

Revenue89107$2.9B in 2025+28% since 2019
0$1.0B$2.0B$3.0B2019: $2.3B$2.3B20192021: $2.0B$2.0B2021−10%2022: $2.6B$2.6B2022+29%2023: $2.2B$2.2B2023−18%2024: $2.5B$2.5B2024+18%2025: $2.9B$2.9B2025+15%
Operating income89107$598.0M in 2025+39% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $429.0M$429.0M20192021: $293.0M$293.0M2021−32%2022: $812.0M$812.0M2022+177%2023: $808.0M$808.0M2023−0%2024: $620.0M$620.0M2024−23%2025: $598.0M$598.0M2025−4%
Net income89107$363.0M in 2025
-$200.0M0$200.0M$400.0M$600.0M$800.0M2019: -$28.0M-$28.0M20192021: $612.0M$612.0M20212022: $524.0M$524.0M2022−14%2023: $564.0M$564.0M2023+8%2024: $376.0M$376.0M2024−33%2025: $363.0M$363.0M2025−3%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Oil, natural gas and natural gas liquids sales$2.9B$2.5B$2.2B
Net gain (loss) from commodity derivatives$266.0M$241.0M-$12.0M
Total operating revenues$3.7B$3.2B$2.8B
Operating costs$1.3B$966.0M$822.0M
General and administrative expenses$333.0M$321.0M$267.0M
Depreciation, depletion and amortization$511.0M$388.0M$225.0M
Asset impairment$59.0M$14.0M$3.0M
Taxes other than on income$242.0M$242.0M$165.0M
Accretion expense$114.0M$87.0M$46.0M
Net loss on natural gas purchase derivatives$50.0M$30.0M$8.0M
Measurement period adjustments, net$1.0M-$12.0M$0
Other operating expenses, net$209.0M$239.0M$95.0M
Total operating expenses$3.1B$2.6B$2.0B
(Loss) gain on asset divestitures-$1.0M$11.0M$32.0M
OPERATING INCOME$598.0M$620.0M$808.0M
Interest and debt expense, net-$106.0M-$87.0M-$56.0M
Loss on early extinguishment of debt-$1.0M-$5.0M-$1.0M
Equity loss from unconsolidated subsidiaries-$4.0M-$10.0M-$9.0M
Other non-operating income (expense), net$15.0M-$2.0M$6.0M
INCOME BEFORE INCOME TAXES$502.0M$516.0M$748.0M
Income tax provision-$139.0M-$140.0M-$184.0M
NET INCOME$363.0M$376.0M$564.0M
Basic (in dollars per share)$4.17$4.74$8.10
Diluted (in dollars per share)$4.15$4.62$7.78
Basic (in shares)87.0M shares79.3M shares69.6M shares
Diluted (in shares)87.4M shares81.4M shares72.5M shares

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The story

The company was formed in April 2014 as a corporate spin-off of Occidental Petroleum. In April 2018, the company acquired the interest in the Elk Hills Oil Field previously held by Chevron Corporation for $460 million and 2.85 million shares. In July 2020, the company filed bankruptcy with $5 billion in debt; it emerged from bankruptcy in October 2020. In March 2021, Mark A. (“Mac”) McFarland was appointed CEO. The company benefited financially from the 2021 Texas power crisis. In February, 2024, it announced a $2.1 billion, all-stock purchase agreement for Aera Energy.

From Wikipedia’s article on California Resources Corporation, shared under CC BY-SA 4.0.5

Products and brands

  • petroleum

Listed on Wikidata.1

Recent filings

  1. Oct 14, 20264
  2. Oct 13, 2026144
  3. Oct 13, 20268-K
  4. Sep 17, 2026SD
  5. Sep 8, 20264
  6. Sep 4, 2026144
  7. Aug 12, 20264
  8. Aug 10, 20268-K
  9. Aug 10, 202610-Q
  10. Aug 10, 2026144
  11. Jul 27, 2026SCHEDULE 13G/A
  12. Jul 14, 20268-K
  13. Jul 14, 20264
  14. Jul 13, 2026144
  15. Jun 26, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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