---
schema_version: "secwatch.filing_event.v1"
accession: "0001609253-24-000100"
form_type: "8-K"
ticker: "CRC"
cik: "0001609253"
company_name: "California Resources Corp"
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:17:44.438880+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CRC Q2 adj net income $42M; closes Aera merger, raises dividend 25%, synergies to $235M

## Summary
- Closed Aera merger July 1, 2024; synergy target raised to $235M including $60M interest savings and $25M operational synergies.
- Q2 net production 76 MBoe/d; adjusted EBITDAX $139M; free cash flow $63M; net income $8M, adjusted net income $42M.
- Dividend increased 25% to $0.3875/quarter ($1.55 annualized); payable Sept 16 to holders of record Aug 30.
- Submitted EPA Class VI permit for 102 MMT CO2 storage, doubling total potential capacity to ~320 MMT.
- H2 2024 guidance: net production 140-146 MBoe/d, capex $170-210M, adj EBITDAX $720-760M.

## SEC filing metadata
- accession: 0001609253-24-000100
- form_type: 8-K
- ticker: CRC
- cik: 0001609253
- company_name: California Resources Corp
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000100/0001609253-24-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609253/000160925324000100/crc-20240806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609253-24-000100
- JSON: https://secwatch.observer/filing/0001609253-24-000100.json
- Plain text: https://secwatch.observer/filing/0001609253-24-000100.txt

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