secwatch.observer — SEC 8-K summary
======================================

Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001609253-23-000079
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC Q3 adj. net income $74M ($1.02/diluted); dividend raised 10% to $0.31
-------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000079/0001609253-23-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000079/crc-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001609253-23-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer