CRC Q2 net income $514M; adjusted EBITDAX $338M; acquires Crimson for $63M

California Resources Corp

Q2 net income $514M (diluted EPS $5.76); adjusted net income $88M ($0.99/share); adjusted EBITDAX $338M.
Production 149 MBoe/d (81% oil); realized oil price $91.55/Bbl; free cash flow $114M.
Announced $63M cash acquisition of Crimson Midstream from CorEnergy; expands California midstream.
Reduced 2026 drilling/completions/workover capital by $10M to $370-390M; reaffirmed total capital $520-560M.
Declared $0.405/share quarterly dividend payable Sept 18; record Sept 4.

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