secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001609253-23-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC reports record 2022 operating cash flow of $690M, raises buyback to $1.1B
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000015/0001609253-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000015/crc-20230224.htm
  HTML page:      https://secwatch.observer/filing/0001609253-23-000015

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