California Resources Corporation (CRC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the California Resources Corporation first quarter 2025 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Joanna Park, Vice President of Investor Relations and Treasurer. Please go ahead. Joanna Park Good morning and welcome to California Resources Corporation's first quarter 2025 conference call. Following our prepared remarks, members of our leadership team will be available for questions. By now, I hope you have had a chance to review our earnings release and supplemental slides. We have also provided information reconciling non-GAAP financial measures to comparable GAAP financial measures on our website and in our earnings release. Today, we will be making some forward-looking statements based on our current expectations. Actual results may differ due to factors described in our earnings release and in our periodic SEC filings. As a reminder, please limit your questions today to one primary and one follow-up, as this allows us to get more of your questions today. And now I will turn the call over to Francisco. Good morning, everyone. Thanks for joining our call and for your interest in our company. CRC is executing very well. We delivered a solid quarter and are reaffirming our full-year 2025 outlook. Our business strategy is designed to mitigate commodity price volatility and generate cash flow to execute our operations, ma...