About

California Resources Corporation (CRC) is an independent energy and carbon management company committed to energy transition. 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.

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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.

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Vision

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

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Values

  • Character: Acting with integrity and honor, without exception
  • Responsibility: California’s high standards for safety and environmental protection
  • Commitment: Respecting our neighbors and advancing community interests for ample, affordable and reliable energy

Highlights

  • In February 2024, CRC announced the signing of a definitive merger agreement to combine with Aera Energy, LLC.

  • In December 2023, U.S. EPA releases Draft Class VI Permits for CRC’s Carbon TerraVault for CO2 Injection and Storage in California

  • In August 2023, Carbon TerraVault’s California DAC Hub Consortium selected for U.S. DOE funding to bring Direct Air Capture and Storage to the Golden State

  • Has applied for permits and kicked off the environmental review for two initial Carbon TerraVault carbon capture and storage projects in Kern County.

  • Formed a JV with Brookfield Renewable focused on CCS development opportunities; with an initial $500 million commitment to invest in CCS projects.

  • In April 2022, announced new and updated ESG goals on methane, freshwater usage, ethnic and gender diversity in leadership, community giving and executive pay.