CRC reports Q4 net income $33M; full-year $376M, 2025 production guidance 132-138 MBoe/d

California Resources Corp

Q4 net income $33M ($0.36 diluted EPS); adjusted net income $84M ($0.91), adjusted EBITDAX $316M.
Full-year 2024 net income $376M ($4.62 EPS); free cash flow $355M; returned $303M to shareholders via buybacks and dividends.
Achieved >70% of $235M Aera merger synergies; remaining $65M on track by year-end 2025.
2025 guidance: capex $285-335M, net production 132-138 MBoe/d (79% oil), entry-to-exit gross production decline 5-8%.
Redeemed $123M of 2026 Senior Notes at par in Feb 2025; $122M balance to be redeemed later this year.

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