CRC Q2 adj net income $78M; raises FCF guidance to $400-500M, buyback to $250M

California Resources Corp

2021-Q2 EPS reported -$2.46 revenue$667,000,000

Q2 2021 net loss $111M ($1.34/diluted share); adjusted net income $78M ($0.94/share).
Free cash flow guidance raised to $400-500M from $250-350M; adjusted EBITDAX guidance to $725-825M.
Board increased share repurchase program to $250M from $150M through March 2022.
Signed agreement to sell Ventura basin ops for up to $102M; post-quarter acquired MIRA JV interest for $53M.
Elected Nicole Neeman Brady to the Board; advancing Carbon TerraVault I CCS project with ~40 MMT storage capacity.

item 2.02 item 5.02 item 9.01

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Appointed

Nicole Neeman Brady

Director

CRC · California Resources Corp

Effective: 2021-08-05
Filed: August 5, 2021, 7:59 PM ET

On August 5, 2021, the Board of Directors (the “Board”) of the Company elected Ms. Nicole Neeman Brady to fill a vacancy on the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Nicole Neeman Brady was elected as Director at California Resources Corp.

Action: elected
Role: Director

Exact text from the filing

On August 5, 2021, the Board of Directors (the “Board”) of the Company elected Ms. Nicole Neeman Brady to fill a vacancy on the Board.

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California Resources Corp filing history →

Source: SEC EDGAR

accession 0001609253-21-000100

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