---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-24-000048"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:50:45.902154+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CRC amends credit facility to boost borrowing base to $1.5B ahead of Aera merger

## Summary
- Spring 2024 borrowing base redetermination postponed to fall 2024.
- Received commitments to increase elected commitment amount to $1.1B and borrowing base to $1.5B, contingent on Aera Merger closing.
- Amendment adds provisions for escrow indebtedness cash amount to facilitate merger financing.
- Lenders include Citibank, KeyBank, MUFG, RBC, TD, Deutsche Bank, Goldman Sachs, and others.

## SEC filing metadata
- accession: 0001609253-24-000048
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000048/0001609253-24-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000048/crc-20240308.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-24-000048
- JSON: https://secwatch.observer/filing/0001609253-24-000048.json
- Plain text: https://secwatch.observer/filing/0001609253-24-000048.txt

## Key facts
- Material Agreements
  California Resources Corp amended Amendment with Citibank, N.A., as administrative agent, collateral agent and issuing bank, and the several lenders party thereto (effective 2024-03-08).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent, collateral agent and issuing bank, and the several lenders party thereto
  - Effective: 2024-03-08
  source text: On March 8, 2024, California Resources Corporation (the “Company” or “CRC”) entered into a third amendment (the “Amendment”) to its Amended and Restated Credit Agreement, dated as of April 26, 2023, with Citibank, N.A., as administrative agent, collateral agent and issuing bank, and the several lenders party thereto (as amended, the “Revolving Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000048/0001609253-24-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.