secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2021-08-05T23:59:59+00:00
Accession:  0001609253-21-000100
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925321000100/0001609253-21-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925321000100/crc-20210805.htm
  HTML page:      https://secwatch.observer/filing/0001609253-21-000100

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