About

California Resources Corporation (CRC) is an independent energy and carbon management company committed to energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise 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 developing our portfolio of responsibly sourced 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 local, responsibly sourced 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

A DIFFERENT KIND OF ENERG

Video Transcript +

California. There’s an energy here like no other. From crashing waves and soaring peaks. To silicon and silver screens. The Golden State has always shined a little brighter.

At California Resources Corporation, we’re driven by that same energy – to deliver advanced energy solutions as diverse and innovative as the place we call home.

Francisco J. Leon, CEO: “To be a different kind of energy company, you have to think differently. At CRC, we’re making that difference through low carbon intensity energy production, investment, and innovation right here in the California communities we serve.”

Building a better energy future starts with being more sustainable and efficient with our resources.

Currently, California remains one of the largest importers of jet fuel, oil and natural gas in the nation - which required over 300 million barrels imported from foreign countries in 2022 alone.

In addition to greater energy costs, these sources are often significantly less carbon efficient and require massive amounts of energy to transport internationally. 

By replacing overseas sources with local production, CRC can ensure California’s energy transition maintains some of the lowest carbon intensity fuel in the world.

At CRC, our commitment to local growth is more than buildings. It’s building communities right where we live. It’s creating new jobs with actual upward mobility, and education development to reach it.

It’s partnerships with local unions, public services, ports, and the everyday workers who bring it all together. It’s community engagement and development that invest in employee well-being, and on-site health & services.

From exploring geothermal and renewables to clean hydrogen and direct air capture - CRC is committed to leading the transition into a cleaner energy future for all Californians.

That decarbonized future begins with technological leaps in how we approach everything from carbon capture to infrastructure.

Our Elk Hills field is the proposed home of the CTV Clean Energy Park, a  hub of emerging clean energy projects and partnerships, including advances in clean hydrogen, ammonia, geothermal, solar, and renewable natural gas.

We’re also partnering with industry leaders like ClimeWorks and Avnos for funding carbon management projects through the Department of Energy.

Whether raising the bar in innovation or breaking new ground, investing in local production or the communities we serve. It’s this kind of difference that makes all the difference. As we transition California into a brighter energy future, together.

We are a different kind of energy company. We are CRC.

Highlights

  • In July 2024, CRC announced the completion of its merger 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 for multiple Carbon TerraVault carbon capture and storage projects in the San Joaquin and Sacramento Basins.

  • 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; diversity, equity and inclusion; community giving; and executive pay.