California Resources's (CRC) Outlook

Company Name, Ticker, Industry, else..

California Resources Corp (NYSE: CRC)

Sector • Energy Industry • Oil And Gas Production

Industry • Oil And Gas Production

Sector • Energy

California Resources Corp Outlook

On January 4 2024 the California Resources Corp provided following guidance

revision:

California Resources Corporation (NYSE: CRC), a leading energy company based in Long Beach, California, recently provided updated guidance for its fourth quarter of 2023. The company expects to report strong results, with estimated free cash flow ranging between $40 to $60 million. This positive outlook can be attributed to higher margins earned from natural gas marketing activities and reduced investments in carbon capture and storage (CCS) related subsurface land easements.

CRC's increased profitability in the fourth quarter of 2023 is primarily driven by its successful natural gas marketing activities, which have resulted in improved margins. Additionally, the company's strategy to reduce investments in CCS-related subsurface land easements has contributed to its expected free cash flow growth.

In light of these encouraging projections, California Resources Corporation has scheduled an earnings conference call to discuss the fourth quarter and full-year 2023 results. The call will provide further insights into the company's financial performance and its plans for the future.

Investors and stakeholders are eagerly anticipating the conference call, as it presents an opportunity to gain a comprehensive understanding of CRC's achievements in the fourth quarter of 2023 and its overall performance throughout the year.

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