secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2024-01-04T23:59:59+00:00
Accession:  0001609253-24-000003
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC updates Q4 guidance, expects $40-60MM FCF; EPA issues first CA Class VI draft permit
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000003/0001609253-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000003/crc-20240104.htm
  HTML page:      https://secwatch.observer/filing/0001609253-24-000003

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