California Resources Reports First Quarter 2025 Financial and Operating Results

About this update from California Resources Corporation

[{"type":"image","alt":"California Resources Corporation","displaySize":"","headline":null,"caption":"California Resources Corporation","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":87,"url":"https://media.zenfs.com/en/globenewswire.com/70b96cc297fce4cc160b6c8f0140e307"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/87idA46XHr9aKfehjzxEcw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/70b96cc297fce4cc160b6c8f0140e307","width":300,"height":87}},"lazy":false},{"type":"text","content":"Returned $258 Million to Stakeholders, Maintained Balance Sheet Strength, Delivered Flat Quarter-Over-Quarter Total Net Production","length":130,"tagName":"p"},{"type":"text","content":"Company Reaffirms its 2025 Production, Capital Investment and Adjusted EBITDAX Guidance","length":87,"tagName":"p"},{"type":"text","content":"LONG BEACH, Calif., May 06, 2025 (GLOBE NEWSWIRE) -- California Resources Corporation (NYSE: CRC) today reported financial and operating results for the first quarter of 2025. The Company plans to host a conference call and webcast at 1 p.m. ET (10 a.m. PT) on Wednesday, May 7, 2025. Participation details can be found within this release. Supplemental slides are available on CRC’s website at www.crc.com.","length":407,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Reported net income of $115 million, adjusted net income1 of $98 million and adjusted EBITDAX1 of $328 million","length":110,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated $186 million of net cash provided by operating activities and $252 million of operating cash flow before net changes in operating assets and liabilities1","length":163,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated $131 million in free cash flow1","length":41,"tagName":"p"}]},{"val":[{"type":"text","content":"Delivered average net production of 141 thousand barrels of oil equivalent per day (MBoe/d) (79% oil), flat quarter-over-quarter production, with drilling, completions and workover capital of $34 million","length":203,"tagName":"p"}]},{"val":[{"type":"text","content":"Returned $258 million to stakeholders2, including $100 million in share repurchases, $35 million in dividends and $123 million in debt repurchases",...

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