California Resources Corp ( (CRC) ) has released its Q2 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 providing responsibly sourced energy and developing carbon capture and storage projects, primarily operating in the oil and gas sector in California.
In its second quarter of 2025, CRC reported robust financial results, including a record $287 million returned to shareholders. The company also raised its production and adjusted EBITDAX guidance for the year while reducing its capital program for drilling, completions, and workovers.
Key financial highlights include a net income of $172 million, with adjusted net income at $98 million. CRC’s production averaged 137 thousand barrels of oil equivalent per day, and it generated $324 million in adjusted EBITDAX, surpassing its quarterly guidance. The company also reported significant liquidity, with $1,039 million available.
Strategically, CRC has implemented merger-related synergies and received authorization for carbon dioxide injection wells, positioning itself for future growth in carbon management. The company continues to focus on shareholder returns through dividends and share repurchases.
Looking ahead, CRC’s management remains optimistic about its ability to drive returns and build resilience, with plans to continue its two-rig program in the second half of 2025 and a commitment to its energy transition strategies.