About CRC

California Resources Corporation (NYSE: CRC) is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects. CRC has a large portfolio of lower-risk conventional opportunities in the following major California oil and gas basins: San Joaquin, Los Angeles and Sacramento.

CRC's highly qualified workforce specializes in applying advanced technology to efficiently operate critical energy infrastructure under world-leading safety, labor, human rights and environmental standards.

Vision:

To be the premier leader in the energy transition, providing locally produced low carbon intensity energy and sustainable carbon management solutions.

Mission:

To deliver long-term investment value by safely and responsibly developing our portfolio of low carbon intensity energy assets and reducing carbon emissions through our carbon management business to benefit our communities and the environment.

Values:

Character:             Acting with integrity and honor, without exception

Responsibility:      Achieving California’s high standards for safety and environmental protection

Commitment:       Respecting our neighbors and advancing community interests for ample,
                                affordable and reliable energy


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Highlights

  • Delivered more than 5 billion gallons of treated, reclaimed water for California agriculture in 2021, sustaining our role as a net water supplier.
  • In November 2021, adopted a 2045 Full-Scope Net Zero goal for Scope 1, 2 and 3 emissions.
  • In April 2022, announced new and updated ESG goals on methane, freshwater usage, ethnic and gender diversity in leadership, community giving and executive pay.
  • Has applied for permits and kicked off the environmental review for two initial Carbon TerraVault carbon capture and storage projects in Kern County.
  • In August 2022, formed a JV with Brookfield Renewable focused on CCS development opportunities; with an initial $500 million commitment by Brookfield to invest in CCS projects that are jointly approved through the JV.