California Resources Corp ( (CRC) ) has released its Q1 earnings. Here is a breakdown of the information California Resources Corp presented to its investors.
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California Resources Corporation (CRC) is an independent energy and carbon management company focused on energy transition and environmental stewardship, operating primarily in the oil and gas sector with a commitment to decarbonization projects.
In the first quarter of 2025, CRC reported robust financial results, maintaining strong balance sheet metrics and returning $258 million to stakeholders. The company also reaffirmed its 2025 production and financial guidance, signaling confidence in its strategic direction.
Key financial highlights include a net income of $115 million, adjusted EBITDAX of $328 million, and a free cash flow generation of $131 million. The company maintained steady production levels at 141 MBoe/d and achieved significant synergies from the Aera merger. CRC also made substantial progress in its carbon capture and storage initiatives, targeting the first CO₂ injection by the end of 2025.
Looking ahead, CRC remains focused on executing its integrated strategy, which is designed to generate sustainable free cash flow and support California’s decarbonization efforts. With a significant portion of its oil production hedged and ongoing investments in carbon management, the company is well-positioned to navigate the evolving energy landscape.