California Resources Corporation (CRC) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the California Resources Corporation first quarter 2026 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 two. Please note this event is being recorded. I would now like to turn the conference over to Daniel Jupp, Vice President of Investor Relations. Please go ahead. Good morning and welcome to CRC's first quarter 2026 conference call. Following prepared comments, members of our leadership team will be available to take your questions. 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 gap measures on our website in our earnings release. Today, we'll be making forward-looking statements based on current expectations. Actual results may differ due to factors described in our earnings release and SEC filings. As a reminder, please limit your questions to one primary and one follow-up, as this will allow us to get more time for your questions. I'll now turn the call over to Francisco. Thanks, Danny. Good morning, everyone. We're off to a solid start in 2026 with unprecedented energy market volatility, creating meaningful tailwinds and opportunities for our business. Before getting into the quarter, let me share a few thoughts on the macro environment and why CRC's business is well-positioned to create value through the cycle. Events across the Middle East have reminded the world of the importance of oi...