California Resources Corporation (CRC) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the California Resources Corporation fourth 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 Daniel Juck, Vice President of Investor Relations. Please go ahead. Good morning, and welcome to California Resources Corporation's fourth quarter and year-end 2025 conference call. Following prepared comments, members of our leadership team will be available to take your questions. By now, I hope you had a chance to review our earnings release and supplemental slides. We have also provided information reconciling non-GAAP financial measures to comparable GAAP measures on our website and 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 allows us to get to more of your questions. I'll now turn the call over to Francisco. Thank you, Daniel, and good morning, everyone. I'll begin with our 2025 results, then highlight what difference we see today, including our unique position in California's energy and decarbonization landscape and how that translates into long-term value creation. I'll then turn it over to Cleo for the financials and 2026 guidance. Let me start with the big picture. In 2025, we grew productio...