secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2026-03-11T23:59:59+00:00
Accession:  0001609253-26-000073
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC offers $250M additional 7.000% notes due 2034 to redeem 8.250% notes due 2029
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- Private offering of $250M in 7.000% senior unsecured notes due 2034 priced as additional series under existing indenture.
- Proceeds, with cash and/or credit facility, will redeem $250M of 8.250% senior notes due 2029 at 100% plus premium.
- Historical 2025 adjusted EBITDAX $1,241M, free cash flow $543M; pro forma (incl. Berry merger) adjusted EBITDAX $1,453M, free cash flow $545M.
- Pro forma average daily production 161 MBoe/d; realized oil price $67.49/Bbl with hedge; operating cost $24.48/Boe.
- Unrestricted subsidiaries hold ~7% of PP&E, 5% of revenues, and 8% of pro forma adjusted EBITDAX.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000073/0001609253-26-000073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925326000073/crc-20260311.htm
  HTML page:      https://secwatch.observer/filing/0001609253-26-000073

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