secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001609253-25-000086
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01, 5.07
LLM model:  deepseek-v4-flash:cloud@v2

CRC posts Q3 net income $64M, raises dividend 5%, updates on Berry merger
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- Net income $64M ($0.76 dil. EPS); adjusted net income $123M ($1.46 dil. EPS); adjusted EBITDAX $338M.
- Production 137 MBoe/d (78% oil); free cash flow $188M; capital investments $91M.
- Quarterly dividend raised 5% to $0.405/share; payable Dec 15 to holders of record Dec 1.
- All-stock merger with Berry (BRY) expected Q1 2026; CRC filed S-4; Berry holders receive 0.0718 CRC shares/share (15% premium).
- Redeemed remaining $122M of 2026 Senior Notes; issued $400M 7.000% 2034 notes to fund Berry debt repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925325000086/0001609253-25-000086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925325000086/crc-20251104.htm
  HTML page:      https://secwatch.observer/filing/0001609253-25-000086

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