{"filings":[{"id":1306082,"accession_number":"0001609253-26-000120","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-06-26T21:00:25+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"CRC issues $550M 7.250% notes due 2035 to redeem higher-coupon 8.250% notes due 2029","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $550M aggregate principal of 7.250% senior unsecured notes due Jan 15, 2035; interest payable semi-annually starting Jan 15, 2027.","Net proceeds used to redeem all $550M of 8.250% senior notes due 2029 at 104.125% plus accrued interest; redemption closed June 26, 2026.","Notes are guaranteed by existing subsidiaries that guarantee the revolving credit facility and the 7.000% notes due 2034.","Refinancing extends maturity from 2029 to 2035 and reduces coupon by 100 bps, lowering annual interest expense."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1086156,"accession_number":"0001609253-26-000116","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-06-16T21:13:28+00:00","items":["8.01","9.01"],"status":"ready","headline":"California Resources prices $550M 7.250% senior notes due 2035 to refinance existing 8.250% notes at 104.125% premium","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$550M aggregate principal of 7.250% senior unsecured notes due 2035 priced at par; net proceeds ~$541M.","Proceeds plus credit facility or cash to redeem all $550M outstanding 8.250% notes due 2029 at 104.125% of par.","Redemption of 2029 notes conditioned on closing of new notes; closing expected June 26, 2026.","New notes guaranteed by subsidiaries that guarantee revolving credit facility, 2029 notes, and 7.000% notes due 2034."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1066436,"accession_number":"0001609253-26-000114","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-06-16T12:24:45+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"CRC launches $550M private note offering to refinance 8.25% 2029 notes at 104.125%","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["CRC announces private offering of $550M senior unsecured notes due 2035, proceeds to redeem existing $550M 8.250% notes due 2029.","Redemption price set at 104.125% of principal plus accrued interest; offering not contingent on redemption completion.","Q1 2026 net loss $711M (incl. $869M unusual items); pro forma TTM adjusted EBITDAX $1,358M.","As of May 31, 2026, CRC had $32M cash and no revolver borrowings outstanding.","Berry merger completed Dec 18, 2025; pro forma financials reflect combined entity."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94067,"accession_number":"0001609253-26-000102","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-05-05T23:59:59+00:00","items":["2.02","5.07","9.01"],"status":"ready","headline":"CRC Q1 net loss $711M from derivatives; adjusted EBITDAX $304M; raises 2026 guidance 42%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q1 net loss $711M primarily from non-cash loss in fair value of commodity derivatives; adjusted net income $79M, adjusted EBITDAX $304M.","Raised 2026E adjusted EBITDAX guidance midpoint 42% to $1,450M; capital budget increased to $520-560M with 7-rig program in H2.","Average net production 154 MBoe/d (81% oil); oil volumes reduced ~1.5 Mbo/d due to higher oil prices on production sharing contracts.","Declared quarterly dividend $0.405/share payable June 18; returned $46M to shareholders in Q1 via dividends and buybacks.","Completed $350M senior notes offering due 2034; redeemed $350M 2029 notes; liquidity $1,276M at March 31."],"consensus_eps_estimate":null,"consensus_eps_actual":-8.02,"consensus_revenue_estimate":null,"consensus_revenue_actual":119000000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94066,"accession_number":"0001609253-26-000086","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-04-17T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"CRC amends credit facility to reduce borrowing costs","summary_kind":"llm","event_type":"debt","confidence":"medium","bullets":["Ninth Amendment to Amended and Restated Credit Agreement with Citibank as agent, effective April 14, 2026.","Pricing grid revised to lower the company's borrowing costs under the facility.","Amendment also includes other technical changes to the credit agreement.","Full terms filed as Exhibit 10.1 with certain details redacted."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":106172,"accession_number":"0001609253-26-000084","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-03-23T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"CRC closes $350M upsized 7% notes due 2034 to refinance 8.25% notes due 2029","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $350M additional 7.000% senior notes due Jan 15, 2034; semi-annual interest begins July 15, 2026.","Net proceeds, with cash on hand or revolver borrowings, to redeem $350M of 8.250% senior notes due 2029 at 100% plus premium.","New notes are fungible with existing $400M 7.000% 2034 notes under same indenture; same CUSIP for 144A tranche.","Redemption of 2029 notes expected to close March 24, 2026.","Notes are senior unsecured, guaranteed by CRC's credit facility and 2029 note guarantors."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":106171,"accession_number":"0001609253-26-000079","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-03-16T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"CRC appoints Michael Helm as principal accounting officer; Noelle Repetti retires","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Michael Helm named VP-Finance & Controller, principal accounting officer, effective March 16, 2026.","Helm previously served as VP-Finance, Oil & Gas after CRC's Berry merger, and as Berry's CAO/CFO.","Helm held CRC's VP & Corporate Controller role from 2014-2017 before joining Berry.","Noelle Repetti, SVP & Controller, retiring effective March 16, 2026; no dispute involved.","Helm will enter into a standard indemnification agreement under Delaware law."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":106170,"accession_number":"0001609253-26-000075","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-03-11T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"CRC prices $350M add-on of 7% notes due 2034; proceeds to redeem 8.25% notes due 2029","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Offering upsized from $250M to $350M of 7.000% senior unsecured notes due 2034.","Notes priced at 100.500% of par; expected to close on March 23, 2026.","Net proceeds used with cash/credit to redeem $350M of 8.250% senior notes due 2029.","Additional notes will be fungible with existing $400M of 7.000% notes issued Oct 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":106169,"accession_number":"0001609253-26-000073","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-03-11T23:59:59+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"CRC offers $250M additional 7.000% notes due 2034 to redeem 8.250% notes due 2029","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Private offering of $250M in 7.000% senior unsecured notes due 2034 priced as additional series under existing indenture.","Proceeds, with cash and/or credit facility, will redeem $250M of 8.250% senior notes due 2029 at 100% plus premium.","Historical 2025 adjusted EBITDAX $1,241M, free cash flow $543M; pro forma (incl. Berry merger) adjusted EBITDAX $1,453M, free cash flow $545M.","Pro forma average daily production 161 MBoe/d; realized oil price $67.49/Bbl with hedge; operating cost $24.48/Boe.","Unrestricted subsidiaries hold ~7% of PP&E, 5% of revenues, and 8% of pro forma adjusted EBITDAX."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":106168,"accession_number":"0001609253-26-000049","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2026-03-02T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC reports Q4 net income $12M, 2025 net income $363M; 2026 production growth guidance 12%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 net income $12M, adjusted net income $40M; full-year net income $363M, adjusted $359M. Adjusted EBITDAX $251M Q4, $1,241M full year.","Full-year 2025 average production 138 MBoe/d, up 25% YoY; free cash flow $543M, highest since 2021.","Increased annual dividend by 5% to $1.62; declared Q1 2026 dividend of $0.405/share payable March 20, record March 13.","2026 guidance: production 152-157 MBoe/d (~12% growth), capex $430-470M, adjusted EBITDAX $970-1,070M.","Board increased share repurchase program by $430M to $1.78B through Dec 2027; $600M capacity remaining as of Feb 28, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":122452,"accession_number":"0001609253-25-000110","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-12-18T23:59:59+00:00","items":["1.01","2.01","8.01","9.01"],"status":"ready","headline":"CRC completes all-stock merger with Berry for ~$253M in CRC shares","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["CRC closed all-stock merger with Berry; Berry holders received ~5.6M CRC shares valued at ~$253M based on Dec 17 close.","Combined company to be headquartered in Long Beach, led by CRC's existing management team.","CRC also amended credit agreement, increasing commitments from $1.45B to $1.46B and adding a lender.","CRC expects to provide full-year 2026 guidance with Q4/2025 earnings release."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":122451,"accession_number":"0001609253-25-000104","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-11-12T23:59:59+00:00","items":["8.01","5.07"],"status":"ready","headline":"HSR waiting period expires for CRC-Berry combination; deal still subject to other conditions","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Hart-Scott-Rodino waiting period expired at 11:59 p.m. ET on November 10, 2025, for CRC's acquisition of Berry.","Consummation remains subject to Berry shareholder approval and FERC authorization under Section 203 of the Federal Power Act.","Transaction announced September 17, 2025; definitive proxy statement/prospectus sent to Berry stockholders.","If completed, Berry will become a direct, wholly-owned subsidiary of California Resources Corporation (CRC)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":122450,"accession_number":"0001609253-25-000086","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-11-04T23:59:59+00:00","items":["2.02","9.01","5.07"],"status":"ready","headline":"CRC posts Q3 net income $64M, raises dividend 5%, updates on Berry merger","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $64M ($0.76 dil. EPS); adjusted net income $123M ($1.46 dil. EPS); adjusted EBITDAX $338M.","Production 137 MBoe/d (78% oil); free cash flow $188M; capital investments $91M.","Quarterly dividend raised 5% to $0.405/share; payable Dec 15 to holders of record Dec 1.","All-stock merger with Berry (BRY) expected Q1 2026; CRC filed S-4; Berry holders receive 0.0718 CRC shares/share (15% premium).","Redeemed remaining $122M of 2026 Senior Notes; issued $400M 7.000% 2034 notes to fund Berry debt repayment."],"consensus_eps_estimate":null,"consensus_eps_actual":3.97,"consensus_revenue_estimate":null,"consensus_revenue_actual":2745000000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":122449,"accession_number":"0001609253-25-000083","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-10-31T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"CRC increases credit facility commitment to $1.45B, adds new lenders","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Aggregate elected commitment raised from $1.15B to $1.45B via Seventh Amendment.","Borrowing base confirmed at $1.5B; semi-annual October 2025 redetermination completed.","New lenders added to the facility; existing lenders waived break-funding payments.","Amendment executed October 29, 2025, with Citibank as administrative agent."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":122448,"accession_number":"0001193125-25-234517","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-10-08T23:59:59+00:00","items":["1.01","2.03","5.07","9.01"],"status":"ready","headline":"CRC issues $400M 7% senior notes due 2034 tied to Berry merger","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $400M aggregate principal of 7.000% senior notes due Jan 15, 2034.","Interest payable semi-annually starting July 15, 2026; guaranteed by existing and future subsidiaries that back other CRC debt.","Special mandatory redemption at par if Berry merger (stock ticker BRY) not closed by March 14, 2026 or deal terminated.","Notes unsecured, rank equally with senior unsecured debt; change of control triggers repurchase at 101% of principal.","Company may redeem up to 40% of notes with equity offering proceeds before Jan 15, 2029."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":139146,"accession_number":"0001193125-25-215598","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-09-24T23:59:59+00:00","items":["8.01","5.07","9.01"],"status":"ready","headline":"CRC prices $400M 7.000% senior notes due 2034 to fund Berry merger","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Private offering of $400M aggregate principal at par; 7.000% coupon, maturity 2034.","Net proceeds ~$394M after discounts; expected closing October 8, 2025.","Proceeds used with cash and credit facility to repay Berry debt in pending merger.","Special mandatory redemption at 100% if Berry merger not closed by March 14, 2026.","Notes unsecured, guaranteed by existing and certain future subsidiaries."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":139145,"accession_number":"0001193125-25-214054","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-09-24T23:59:59+00:00","items":["1.01","2.02","8.01","5.07","9.01"],"status":"ready","headline":"CRC announces $400M senior unsecured notes due 2034 to fund Berry merger debt repayment","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$400M aggregate principal senior unsecured notes due 2034; guaranteed by existing subsidiaries that also back CRC's revolving facility and 7.125%/8.250% notes.","Net proceeds, together with cash on hand and revolver borrowings, to repay Berry's existing indebtedness (Berry had $428M outstanding as of Sept 19, 2025) and pay merger fees/expenses.","Pro forma combined adjusted EBITDAX for six months ended June 30, 2025 was $773M; pro forma free cash flow was $238M.","Special mandatory redemption at 100% of issue price plus accrued interest if Berry Merger not consummated by March 14, 2026 (subject to extensions) or merger agreement terminated.","As of Sept 19, 2025, CRC held $251M cash (excl. $15M restricted) and $0 drawn on revolver; Berry had $37M cash and $428M total indebtedness."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":139144,"accession_number":"0001609253-25-000076","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-09-17T23:59:59+00:00","items":["1.01","9.01","5.07"],"status":"ready","headline":"CRC to acquire Berry Corp (bry); Berry shareholders get 0.0718 CRC shares per share","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["CRC to merge with Berry; each Berry share converts to 0.0718 shares of CRC common stock.","Berry must pay $12.04M termination fee if it accepts a superior proposal or changes recommendation.","Deal requires Berry stockholder approval, HSR clearance, FERC approval, and registration statement effectiveness.","Outside date for closing is March 14, 2026; no financing condition.","Berry equity awards (RSUs/PSUs) to be converted into CRC RSUs or cashed out at closing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":139143,"accession_number":"0001609253-25-000071","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-09-15T23:59:59+00:00","items":["7.01","9.01","5.07"],"status":"ready","headline":"CRC to acquire Berry in all-stock deal valued at ~$717M; 94% ownership for CRC shareholders","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Berry shareholders get 0.0718 CRC shares per BRY share, a 15% premium based on 9/12/25 closing prices.","Pro forma combined 2Q25 production ~161 Mboe/d (81% oil); proved reserves ~652 MMboe (87% developed).","Expected annual synergies of $80-90 million within 12 months post-close (~12% of transaction value).","CRC maintains strong balance sheet; pro forma leverage <1.0x and ~70% of 2H25 oil hedged at $68/bbl Brent floor.","Transaction expected to close in Q1 2026, subject to regulatory approvals and Berry shareholder approval."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.88,"calibrated_materiality_score":0.88,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":139142,"accession_number":"0001609253-25-000066","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-08-05T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC Q2 net income $172M, adj. EBITDAX $324M; raises 2025 production and EBITDAX guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $172M ($1.92 diluted EPS); adjusted net income $98M ($1.10 adjusted diluted EPS).","Average net production 137 MBoe/d (80% oil), at high end of guidance; added second Kern County rig.","Q2 free cash flow $109M; returned record $287M to shareholders ($252M buybacks, $35M dividends).","2025 guidance raised: net production 134-138 MBoe/d, adjusted EBITDAX $1.195-1.275B; DCW capital lowered $5M.","Declared Q3 dividend $0.3875/share payable Sept 12, 2025; share repurchase program extended to June 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":3.18,"consensus_revenue_estimate":null,"consensus_revenue_actual":1890000000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":156686,"accession_number":"0001609253-25-000059","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-06-23T23:59:59+00:00","items":["5.02","8.01"],"status":"ready","headline":"CRC to repurchase 4.95M shares from IKAV for $227.7M; director Saadati to resign","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Bobby Saadati will resign from CRC board upon closing of $227.7M share repurchase from IKAV.","CRC repurchases 4,950,000 shares at $46.00 each from IKAV, settlement expected June 25, 2025.","Repurchase funded with cash on hand and operating cash flows; part of $1.35B buyback program.","IKAV's director nomination right ends as holding drops below 5%; lock-up restrictions on IKAV cease."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":156685,"accession_number":"0001609253-25-000034","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-05-06T23:59:59+00:00","items":["2.02","5.07","9.01"],"status":"ready","headline":"CRC reports Q1 net income of $115M, returns $258M to stakeholders, reaffirms 2025 guidance","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $115M ($1.26 diluted EPS); adjusted net income $98M ($1.07 adjusted EPS).","Adjusted EBITDAX $328M; free cash flow $131M; production flat at 141 MBoe/d (79% oil).","Returned $258M to stakeholders: $100M buybacks, $35M dividends, $123M debt repurchases.","Reaffirmed full-year 2025 guidance: production 132-138 MBoe/d, capital $285-335M, adjusted EBITDAX $1.1-1.2B.","Board declared $0.3875/share dividend payable June 13; share repurchase authorization remaining $457M."],"consensus_eps_estimate":null,"consensus_eps_actual":1.26,"consensus_revenue_estimate":null,"consensus_revenue_actual":912000000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":175098,"accession_number":"0001609253-25-000023","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2025-03-03T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC reports Q4 net income $33M; full-year $376M, 2025 production guidance 132-138 MBoe/d","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 net income $33M ($0.36 diluted EPS); adjusted net income $84M ($0.91), adjusted EBITDAX $316M.","Full-year 2024 net income $376M ($4.62 EPS); free cash flow $355M; returned $303M to shareholders via buybacks and dividends.","Achieved >70% of $235M Aera merger synergies; remaining $65M on track by year-end 2025.","2025 guidance: capex $285-335M, net production 132-138 MBoe/d (79% oil), entry-to-exit gross production decline 5-8%.","Redeemed $123M of 2026 Senior Notes at par in Feb 2025; $122M balance to be redeemed later this year."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":192045,"accession_number":"0001609253-24-000125","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-11-25T23:59:59+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"California Resources names Clio Crespy as CFO effective Jan 1, 2025; Nelly Molina departs","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Appoints Clio Crespy EVP & CFO effective Jan 1, 2025; succeeds Nelly Molina who departs Dec 31, 2024.","Crespy receives $615K base salary, 100% target bonus, 400% LTI target, and $1.35M initial RSU grant.","Crespy most recently Senior MD at Guggenheim Securities, advising on energy and sustainability.","Molina's departure not due to any disagreement with CRC on internal controls or financial statements.","Employment agreement includes 2-year initial term, severance multiplier of 1.5x (2x upon change in control)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":192044,"accession_number":"0001609253-24-000115","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-11-05T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC reports Q3 net income $345M, adj EPS $1.50, free cash flow $141M; guides Q4 EBITDAX $260-300M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $345M ($3.78 diluted EPS); adjusted net income $137M ($1.50); adjusted EBITDAX $402M.","Generated $141M free cash flow; returned $76M to shareholders ($42M buybacks, $34M dividends).","Net production 145 MBoe/d (oil 113 MBo/d); Q4 guidance 140-144 MBoe/d, capital $85-105M, adj EBITDAX $260-300M.","Completed $300M follow-on offering of 8.250% notes due 2029 and repurchased $300M of 2026 notes; extended credit facility to March 2029.","Received first conditional use permits for Carbon TerraVault CCS project in Kern County; signed MOU with Hull Street Energy for CCS."],"consensus_eps_estimate":null,"consensus_eps_actual":4.42,"consensus_revenue_estimate":null,"consensus_revenue_actual":2321000000.0,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":208529,"accession_number":"0001193125-24-205372","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-08-22T23:59:59+00:00","items":["1.01","2.03","8.01","9.01"],"status":"ready","headline":"CRC completes $300M add-on of 8.25% senior notes; tenders up to $300M of 7.125% 2026 notes","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Completed private offering of $300M aggregate principal of 8.250% senior notes due 2029, priced at 101% of par.","Total outstanding in series now $900M; notes rank equally with existing unsecured debt.","Concurrently commenced tender offer for up to $300M of its 7.125% senior notes due 2026, using net proceeds and cash.","Offering not conditioned on tender offer, but tender offer conditioned on offering closing.","Interest on new notes payable semi-annually starting Dec 15, 2024; maturity June 15, 2029."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":208528,"accession_number":"0001193125-24-196569","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-08-08T23:59:59+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"CRC launches $200M note offering at 8.250% and tender offer for up to $200M of 2026 notes","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issues $200M additional 8.250% senior notes due 2029, fungible with existing $600M notes.","Tender offer for up to $200M of 7.125% notes due 2026; early tender premium $30/$1,000.","Tender offer conditioned on note offering; proceeds to fund tender, reduce debt, and general corporate purposes.","Preliminary Aera Parent results: 6M 2024 production 70 MBoe/d, revenues $676M, capex $67M.","As of July 31, 2024, CRC had $96M cash and no revolver borrowings outstanding."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":208527,"accession_number":"0001609253-24-000100","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-08-06T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC Q2 adj net income $42M; closes Aera merger, raises dividend 25%, synergies to $235M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Closed Aera merger July 1, 2024; synergy target raised to $235M including $60M interest savings and $25M operational synergies.","Q2 net production 76 MBoe/d; adjusted EBITDAX $139M; free cash flow $63M; net income $8M, adjusted net income $42M.","Dividend increased 25% to $0.3875/quarter ($1.55 annualized); payable Sept 16 to holders of record Aug 30.","Submitted EPA Class VI permit for 102 MMT CO2 storage, doubling total potential capacity to ~320 MMT.","H2 2024 guidance: net production 140-146 MBoe/d, capex $170-210M, adj EBITDAX $720-760M."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.03,"consensus_revenue_estimate":null,"consensus_revenue_actual":968000000.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":208526,"accession_number":"0001193125-24-173343","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-07-01T23:59:59+00:00","items":["1.01","2.01","2.02","2.03","3.02","5.02","8.01","9.01"],"status":"ready","headline":"CRC closes Aera Energy acquisition; issues 21.3M shares worth ~$1.13B","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Combination creates California's leading energy producer/CMS provider; $150M annual synergies targeted within 15 months.","Pro forma Apr-May net production averaged 146 Mboe/d (79% oil); 2H24 guidance: 140-146 Mboe/d, capex $170-$210M.","Credit facility increased: borrowing base $1.2B to $1.5B, commitments $630M to $1.1B; Aera's prior facilities repaid.","Bobby Saadati (IKAV) and James Jackson (CPPIB) appointed to CRC board; director Nicole Neeman Brady resigned.","Acquisition funded entirely with stock; former Aera owners received 21.3M CRC shares valued at $1,134M at June 28 close."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226226,"accession_number":"0001609253-24-000097","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-06-26T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"CRC shareholders approve share issuance for Aera Energy acquisition at special meeting","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Special meeting held June 26, 2024; 64,284,719 shares represented, quorum achieved.","63,972,219 votes FOR, 225,808 AGAINST, 86,692 abstentions; no broker non-votes.","Approval covers issuance of common stock under NYSE rules for Aera Energy merger.","Adjournment proposal deemed unnecessary; meeting proceeded to conclusion.","Acquisition of Aera Energy LLC and Aera Energy Services Company pending closing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226225,"accession_number":"0001193125-24-155155","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-06-05T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"California Resources closes $600M 8.250% senior notes offering due 2029","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $600M aggregate principal of 8.250% senior notes due June 15, 2029.","Interest payable semi-annually on June 15 and December 15, starting Dec 15, 2024.","Notes subject to special mandatory redemption if Aera Merger not closed by May 7, 2025.","Guaranteed on a senior unsecured basis by existing and future credit-facility guarantors."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226224,"accession_number":"0001609253-24-000090","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-05-21T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"CRC prices $600M upsized 8.250% senior notes due 2029 to fund Aera merger debt repayment","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$600M aggregate principal at par, 8.250% coupon, due 2029, closing June 5, 2024.","Net proceeds ~$590M after discounts and expenses.","Proceeds, plus cash and revolver borrowings, to repay Aera Energy indebtedness in pending Aera Merger.","Special mandatory redemption if merger not consummated by May 7, 2025, or if terminated earlier.","Notes unsecured, guaranteed by existing subsidiaries that guarantee CRC's revolving credit facility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226223,"accession_number":"0001193125-24-142231","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-05-20T23:59:59+00:00","items":["2.02","8.01","9.01"],"status":"ready","headline":"CRC Launches $500M Senior Notes Offering to Repay Aera Debt Upon Merger Close","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["CRC announces private offering of $500M senior unsecured notes due 2029, guaranteed by existing credit facility guarantors.","Net proceeds, plus cash and credit facility borrowings, will repay Aera Companies' $950M outstanding debt at merger close.","Notes subject to special mandatory redemption if Aera Merger not closed by May 7, 2025 or if terminated earlier.","Pro forma for Aera Merger: TTM ended Mar 31, 2024 total operating revenues $3.8B, adjusted EBITDAX $1.756B.","Pro forma combined production 146 MBoe/d (CRC 76, Aera 70); CRC had $401M cash, Aera $121M cash as of Apr 30, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226222,"accession_number":"0001609253-24-000083","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-05-09T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"CRC posts investor presentation with standard risk factors, no new material items","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Presentation contains only forward-looking statement cautionary language; no financial data or guidance.","Aera merger integration risk is reiterated, but no new details on timing or approvals.","No changes to dividend policy, share repurchase, or capital plan indicated in the excerpt.","Confidence low due to lack of substantive content in the provided exhibit."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":226221,"accession_number":"0001609253-24-000059","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-05-07T23:59:59+00:00","items":["2.02","5.07","9.01"],"status":"ready","headline":"CRC reports Q1 net loss of $10M, adj. EPS $0.75; returns $79M to shareholders","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss of $10M ($0.14 loss per share); adjusted net income $54M ($0.75 per share).","Q1 adjusted EBITDAX $149M, free cash flow $33M; net cash from operations $87M.","Returned $79M to shareholders via $58M buybacks and dividends; YTD nearly $95M.","Aera Merger on track: definitive proxy filed, HSR cleared, expected close mid-2024.","Board elected Christian S. Kendall; declared $0.31/share dividend payable June 14."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.14,"consensus_revenue_estimate":null,"consensus_revenue_actual":454000000.0,"consensus_period":"2024-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245292,"accession_number":"0001609253-24-000053","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-03-26T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"CRC announces expiration of HSR waiting period for Aera Energy acquisition; deal on track for mid-2024 close","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["HSR waiting period expired March 25, 2024, for the pending combination with Aera Energy.","Transaction remains subject to CRC shareholder approval, FERC authorization, and other customary conditions.","Expected closing around mid-year 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245291,"accession_number":"0001609253-24-000048","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-03-11T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"CRC amends credit facility to boost borrowing base to $1.5B ahead of Aera merger","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Spring 2024 borrowing base redetermination postponed to fall 2024.","Received commitments to increase elected commitment amount to $1.1B and borrowing base to $1.5B, contingent on Aera Merger closing.","Amendment adds provisions for escrow indebtedness cash amount to facilitate merger financing.","Lenders include Citibank, KeyBank, MUFG, RBC, TD, Deutsche Bank, Goldman Sachs, and others."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245290,"accession_number":"0001609253-24-000046","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-03-08T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"California appellate court voids Kern County EIR; CRC halts new well permits, plans one-rig 2024 program","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["On March 7, 2024, California appellate court found deficiencies in Kern County EIR and enjoined its use for oil/gas permit approvals.","If unable to obtain new well permits in 2024, CRC plans one-rig program with $200M-$240M capital; expects 5%-7% production decline.","Pending Aera merger excluded from decline estimate; CRC assessing next steps and timelines."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245289,"accession_number":"0001609253-24-000040","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-02-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"California Resources reports FY2023 net income $564M and record free cash flow $468M; Aera merger on track for H2 2024","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["FY2023 net income $564M ($7.78 diluted EPS); adjusted net income $372M ($5.13 per share).","FY2023 net cash from ops $653M, free cash flow $468M; capital investments $185M, leverage ratio 0.1x.","Aera merger: all-stock with 21.2M CRC shares issued, assumption of $950M debt; closing expected H2 2024.","2024E capital $300-$340M; net production 78-82 MBoe/d; Q1 guidance 76-80 MBoe/d (60% oil).","Share repurchase program increased by $250M to $1.35B; quarterly dividend $0.31/share declared."],"consensus_eps_estimate":null,"consensus_eps_actual":7.78,"consensus_revenue_estimate":null,"consensus_revenue_actual":2801000000.0,"consensus_period":"2023-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245288,"accession_number":"0001609253-24-000022","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-02-14T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"CRC amends credit agreement to permit up to $500M bridge loan for Petra acquisition","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Second Amendment dated Feb 9, 2024 amends existing credit agreement to enable bridge loan facility.","Bridge loan facility capped at $500M less any senior unsecured note proceeds funded before acquisition close.","Financing supports acquisition of Green Gate Resources Parent (Petra) under agreement dated Feb 7, 2024.","Amendment sets bridge loan incurrence window from Feb 9, 2024 to May 7, 2025.","Existing lenders including Citibank, KeyBank, MUFG, Mizuho, RBC, TD, Deutsche Bank, Goldman Sachs, Jefferies, Morgan Stanley, BP Energy approved amendment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245287,"accession_number":"0001609253-24-000020","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-02-09T23:59:59+00:00","items":["1.01","3.02","8.01","9.01"],"status":"ready","headline":"CRC to acquire energy companies for 21.17M shares plus $500M bridge loan","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Aggregate consideration of 21,170,357 CRC common shares; additional shares for dividends declared Jan 1 to closing.","Bridge loan of $500M from Citi to refinance acquired companies' debt and pay transaction costs.","Closing conditions include CRC stockholder approval, HSR clearance, FERC authorization; no financing condition.","Post-closing, IKAV and CPP members get one board nomination each while holding ≥5% shares; standstill caps ownership at 14.9%.","Termination fee of $50M or $100M if CRC changes recommendation or pursues a superior proposal."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245286,"accession_number":"0001609253-24-000018","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-02-07T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"CRC to acquire Aera Energy in $2.1B all-stock merger; pro forma production ~150 MBoe/d","summary_kind":"llm","event_type":"m_and_a","confidence":"high","bullets":["Deal values Aera at ~$2.1B; CRC issues 21.2M shares (22.9% fully diluted) to Aera owners IKAV (51%) and CPP Investments (49%).","Immediately accretive: 45% improvement to operating cash flow per share, 90% to free cash flow per share on 2024E estimates.","Pro forma production ~150 MBoe/d (76% oil); proved reserves ~680 MMBoe; $150M annual synergies expected within 15 months.","CRC increases share repurchase program to $1.35B, extends through 2025; expects to raise quarterly dividend post-closing.","Expands carbon management; close expected H2 2024; IKAV and CPP Investments each nominate one CRC board member."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245285,"accession_number":"0001609253-24-000005","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-01-05T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"CRC issues Q4 2023 guidance: FCF $40-60MM, production 82-84 MBOE/d; EPA issues draft Class VI carbon storage permit","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["4Q23E FCF guidance $40-60MM; production 82-84 MBOE/d (~60% oil); total capital $65-75MM.","EPA released first draft Class VI permit in California for CRC's 26R reservoir (CTV I); 90-day public comment period started.","CTV injection rate target 5MMTPA by YE27; storage capacity target 200MMT.","Management expects to exceed Q4 FCF guidance and meet production guidance."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":245284,"accession_number":"0001609253-24-000003","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2024-01-04T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC updates Q4 guidance, expects $40-60MM FCF; EPA issues first CA Class VI draft permit","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Q4 guidance: FCF $40-60MM, production 82-84 MBOE/d (~60% oil), capex $65-75MM.","Expects to exceed quarterly FCF guidance; production in line with prior guidance.","EPA released California's first Class VI draft permit for 26R reservoir (CTV I storage vault); 90-day public comment period started.","CTV targets: 5MMTPA injection rate by YE27 and 200MMT storage capacity by YE27.","Permitted injection capacity of 38MMT with injection rate up to ~1.5MMTPA, both above type curve."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":262739,"accession_number":"0001609253-23-000079","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-11-01T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC Q3 adj. net income $74M ($1.02/diluted); dividend raised 10% to $0.31","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net loss $22M ($0.32 loss/diluted); adjusted net income $74M ($1.02/diluted).","Generated $71M free cash flow in Q3; YTD FCF $403M; returned 52% to shareholders.","Dividend raised 10% to $0.31/share (payable Dec 15, record Dec 1).","Narrowed 2023 production to 85-87 MBoe/d and capex to $185-210M; raised gas marketing margin guidance.","Carbon management: Elk Hills capture-storage project (100k MTPA) by end 2025; CDMA with NLCE for 150k MTPA."],"consensus_eps_estimate":null,"consensus_eps_actual":5.18,"consensus_revenue_estimate":null,"consensus_revenue_actual":2075000000.0,"consensus_period":"2023-Q3","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":279925,"accession_number":"0001609253-23-000073","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-07-31T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC Q2 net income $97M ($1.35 EPS); adjusted EPS $0.53; narrows FCF guidance to $380-460M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $97M ($1.35 diluted EPS); adjusted net income $38M ($0.53 diluted EPS).","Revenue $591M; net production 86 MBoe/d; E&P capex $35M.","Declared $0.2825/share dividend payable Sept 15; repurchased 1.6M shares for $64M in Q2.","Submitted Class VI permit for 17 MMT CO2 storage; total permitted capacity 191 MMT; new CDMA with Verde Clean Fuels (100 KMTPA).","Narrows 2023 FCF guidance to $380-460M; lowers operating cost guidance to $815-850M."],"consensus_eps_estimate":null,"consensus_eps_actual":5.47,"consensus_revenue_estimate":null,"consensus_revenue_actual":1615000000.0,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":298420,"accession_number":"0001609253-23-000063","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-06-16T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"CRC COO Shawn Kerns to retire July 31; Omar Hayat named EVP-Operations","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Shawn Kerns, EVP and COO, retires effective July 31, 2023; departure not due to any dispute.","Omar Hayat appointed EVP-Operations effective June 19, 2023; previously SVP Operations.","Hayat receives $400,000 base salary, 100% target bonus, and LTIP with target value of 400% of base salary.","Hayat's LTIP awards expected as 60% PSUs (3-year cliff) and 40% RSUs (3-year ratable vest).","Hayat will also enter into standard indemnification agreement with the Company."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":298419,"accession_number":"0001609253-23-000037","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-05-02T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"CRC posts record Q1 net income $301M; raises 2023 free cash flow guidance 8%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $301M ($4.09/diluted); adjusted net income $193M ($2.63/diluted). Revenue $1,024M.","Free cash flow $263M; raised 2023 FCF guidance to $360-$470M; lowered op costs to $815-$865M.","Produced 89,000 Boe/d (55,000 bbl/d oil); E&P capex $40M in Q1; maintained 85-91 MBoe/d 2023 guidance.","Declared $0.2825 dividend payable June 16; repurchased 1.4M shares for $59M in Q1; $519M total returned.","Appointed Manuela Molina as CFO (May 8); Francisco Leon became CEO Feb 24; hired A&M for $25-50M cost cuts."],"consensus_eps_estimate":null,"consensus_eps_actual":4.09,"consensus_revenue_estimate":null,"consensus_revenue_actual":1024000000.0,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":298418,"accession_number":"0001609253-23-000034","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-05-01T23:59:59+00:00","items":["5.02","5.03","5.07","7.01","9.01"],"status":"ready","headline":"CRC appoints Nelly Molina as EVP & CFO effective May 8, replacing Francisco Leon who became CEO","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Molina joins from Sempra Energy, previously CFO of IEnova and VP Audit Services/IR at Sempra.","Employment agreement: $550K base salary, 100% target bonus, $150K sign-on bonus, LTIP target 400% of base.","Shareholders approved Certificate of Incorporation amendment permitting officer exculpation for duty of care claims.","All nine director nominees elected; KPMG, say-on-pay, and officer exculpation proposals approved.","Prior CFO Francisco Leon became President and CEO on April 28, 2023."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":318625,"accession_number":"0001609253-23-000015","cik":1609253,"company_name":"California Resources Corp","ticker":"CRC","form_type":"8-K","filed_at":"2023-02-24T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"CRC reports record 2022 operating cash flow of $690M, raises buyback to $1.1B","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Full-year 2022 net income $524M ($6.75 diluted EPS); adjusted net income $384M ($4.95 diluted EPS).","Record operating cash flow $690M, free cash flow $311M; returned $372M to shareholders in 2022.","Share repurchase program increased by $250M to $1.1B, extended through June 30, 2024; $640M remaining.","2023 guidance: production 85-91 MBoe/d, capital $200-245M, free cash flow $330-440M.","Carbon management: signed two CDMAs for 470,000 MT CO2/year; formed consortium for California DAC Hub."],"consensus_eps_estimate":null,"consensus_eps_actual":6.75,"consensus_revenue_estimate":null,"consensus_revenue_actual":2707000000.0,"consensus_period":"2022-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":5342789071.571213,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2023-02-24T23:59:59+00:00|318625"}