# California Resources Corporation

> California Resources Corporation is a publicly traded oil, natural gas and energy infrastructure operator developing a carbon-storage business through Carbon TerraVault. Its Elk Hills assets combine producing fields, gas processing, power generation and depleted reservoirs now used for permanent CO2 storage.

- **Founded:** 2014
- **Headquarters:** Long Beach, United States
- **Founders:** Occidental Petroleum Corporation (Corporate parent that spun off CRC in 2014)
- **Products:** Oil, natural gas and natural gas liquids, Elk Hills electricity and gas processing, Carbon TerraVault I - 26R, CalCapture, Crimson midstream assets
- **Notable:** Completed the Aera Energy combination on July 1, 2024., Received EPA Class VI permits for CTV I - 26R in December 2024., Completed the Berry combination in December 2025.

## Products & services

- **Oil, natural gas and natural gas liquids** — Exploration, development and production sold to commercial energy buyers.
- **Elk Hills electricity and gas processing** — Power generation and gas processing integrated with field operations, including a 550-MW power plant.
- **Carbon TerraVault I - 26R** — Permanent geological CO2 storage; first injection in May 2026. Initial gas-plant capture targets up to 100,000 tonnes annually; reservoir capacity is a separate measure.
- **CalCapture** — Proposed capture of power-plant emissions targeting 1.5 million tonnes per year; distinct from the operating cryogenic-gas-plant project.
- **Crimson midstream assets** — California pipeline systems and storage acquired in September 2026.

## Achievements

- Completed the Aera Energy combination on July 1, 2024.
- Received EPA Class VI permits for CTV I - 26R in December 2024.
- Completed the Berry combination in December 2025.
- Achieved first injection at California’s first operational CCS project in May 2026.
- Reported $1 million in carbon-management operating revenues in Q2 2026.

## Latest updates

- **2026-09** — Signed an agreement to sell Uinta Basin assets for approximately $90 million; closing expected by year-end, subject to conditions.
- **2026-09** — Completed approximately $63 million all-cash acquisition of Crimson Midstream Holdings.
- **2026-08** — Reported Q2 net production of 149,000 BOE/day and first carbon-management revenue.
- **2026-05** — Achieved first CO2 injection at CTV I.

## Links

- Website: https://crc.com
- LinkedIn: https://www.linkedin.com/company/california-resources-corporation
- YouTube: https://www.youtube.com/@californiaresourcescorpora6750
- Facebook: https://www.facebook.com/californiaResourcesCorporation

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Profile page: https://yespress.io/california-resources-corporation
Published by YesPress — https://yespress.io
Last updated: 2026-10-23