Energy for California by Californians
California Resources Corporation (CRC) is an oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets exclusively in California. CRC explores for, produces, gathers, processes and markets crude oil, natural gas and natural gas liquids. CRC makes significant use of proven modern technologies across our leading mineral acreage position and diverse portfolio, which we expect will substantially increase both our cost efficiencies and production growth over time.
CRC provides “Energy for California by Californians.” California homes, farms, businesses and communities need ample, affordable and reliable energy, and CRC’s dedicated workforce of approximately 4,000 California employees and contractors develop dependable local crude oil and natural gas reserves that help to reduce our state’s chronic dependence on imported energy. Our employees earned the National Safety Council’s Occupational Excellence Achievement Award for their exemplary safety performance in 2015 across our statewide operations.
Investing in California
CRC is also an economic engine for California. In 2015, our operations spent $1.7 billion with more than 1,300 vendors and provided approximately $403 million in revenues and taxes to the state and our host counties and cities where we live and work.
CRC is the largest oil and natural gas producer in California on a gross-operated basis and we believe we have established the largest privately-held mineral acreage position in the state, consisting of approximately 2.4 million net acres spanning the state's four major oil and gas basins. We have a sizable inventory of over 23,450 gross drilling locations, excluding 6,400 gross prospective resource drilling locations, and plan to exploit our significant portfolio of conventional and unconventional opportunities to generate production growth over the longer term.
As an independent company focused exclusively on California, we apply advanced technologies to grow local energy production in a safe, environmentally responsible and cost-effective manner that is consistent with the interests of our surrounding communities.