secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2024-03-08T23:59:59+00:00
Accession:  0001609253-24-000046
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

California appellate court voids Kern County EIR; CRC halts new well permits, plans one-rig 2024 program
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- On March 7, 2024, California appellate court found deficiencies in Kern County EIR and enjoined its use for oil/gas permit approvals.
- If unable to obtain new well permits in 2024, CRC plans one-rig program with $200M-$240M capital; expects 5%-7% production decline.
- Pending Aera merger excluded from decline estimate; CRC assessing next steps and timelines.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000046/0001609253-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000046/crc-20240307.htm
  HTML page:      https://secwatch.observer/filing/0001609253-24-000046

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