California Resources Unveils $400 Million Private Offering of Senior Notes
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2025
0mins
Should l Buy CRC?
Source: NASDAQ.COM
Debt Offering Announcement: California Resources Corporation (CRC) plans to offer $400 million in senior unsecured notes due 2034 in a private offering.
Use of Proceeds: The funds will be used to repay existing debt of Berry Corporation as part of a business combination, as well as to cover fees and expenses related to the merger and the note offering.
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Analyst Views on CRC
Wall Street analysts forecast CRC stock price to rise
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 55.710
Low
56.00
Averages
65.22
High
72.00
Current: 55.710
Low
56.00
Averages
65.22
High
72.00
About CRC
California Resources Corporation is an independent energy and carbon management company committed to energy transition. The Company’s segments include Oil and Natural Gas and Carbon Management. Its Carbon Management business, Carbon TerraVault, focuses on building, installing, operating, and maintaining carbon dioxide equipment, transportation assets and storage facilities. The Oil and Natural Gas segment explores for, develops and produces crude oil, oil condensate, natural gas liquids and natural gas. It has operations in oil and gas basins, including San Joaquin Basin, Los Angeles Basin, Sacramento Basin, and other. It has interests in oil and gas fields throughout the San Joaquin basin, including in Elk Hills, Buena Vista, Coles Levee, North Belridge and South Belridge, Kern Front, Lost Hills, Cymric, McKittrick, Midway Sunset and Coalinga. The Los Angeles Basin is a northwest-trending plain about 50 miles long and 20 miles wide. The Company is also focused on Uinta basin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Analysis of Insider Buying in Small-Cap ETF
- Insider Buying Ratio: Within the iShares S&P Small-Cap 600 Value ETF, 10.2% of holdings have seen insider buying in the past six months, indicating management's confidence in future growth, which may attract more investor interest.
- Lumen Technologies Activity: Lumen Technologies, comprising 0.63% of the ETF, has had 2 directors and officers purchase shares recently, reflecting a positive outlook from insiders that could bolster market confidence in its stock.
- California Resources Transactions: California Resources Corp, ranked 27th in the ETF with approximately 0.54% allocation, also saw 2 directors and officers file for recent stock purchases, suggesting a proactive stance from its governance team that may enhance investor trust.
- ETF Asset Allocation: The total holdings of LUMN and CRC in the iShares S&P Small-Cap 600 Value ETF are valued at $46,399,924 and $40,312,778 respectively, highlighting their significance in the ETF's investment strategy, which could influence overall investment decisions.
See More
Sourcerock Increases Stake in California Resources Corporation to 3.18 Million Shares
- Increased Stake: Sourcerock Group raised its stake in California Resources Corporation by 1.18 million shares in Q3, bringing total holdings to 3.18 million shares, with a value increase to $169.14 million, indicating strong confidence in the company.
- Asset Allocation: Following the increase, California Resources now represents 11.5% of Sourcerock's 13F assets, highlighting its significance in the investment portfolio and potentially influencing future investment decisions.
- Cash Flow Performance: In Q3, California Resources generated $279 million in operating cash flow and $188 million in free cash flow, demonstrating financial resilience amid oil price fluctuations, which supports dividend and buyback initiatives.
- Dividend Growth: The company's management raised the quarterly dividend by 5% to $0.405 per share while retiring its 2026 notes, enhancing liquidity and showcasing robust financial management capabilities.
See More
Kore Advisors Acquires $4 Million Stake in California Resources Corporation
- New Investment Position: Kore Advisors established a new stake in California Resources Corporation by acquiring 75,141 shares worth approximately $4 million during Q3, representing 4.6% of the fund's reportable U.S. equity holdings.
- Portfolio Diversification: This investment increased Kore Advisors' total number of reportable positions to 13, enhancing the diversity within its $87.48 million assets under management.
- Market Performance Analysis: Despite California Resources Corporation's share price of $44.04 reflecting a 14.5% decline over the past year, the company's stable cash flow and dividend growth indicate a degree of resilience in the energy market.
- Financial Health Status: The company generated $279 million in operating cash flow and $188 million in free cash flow in Q3, supporting its strategy for shareholder returns and debt reduction, showcasing its resilience in a volatile market.
See More
Kore Advisors Acquires 75,141 Shares in California Resources Corporation, Representing 4.6% Stake
- New Investment Position: Kore Advisors initiated a stake in California Resources Corporation by acquiring 75,141 shares worth approximately $4 million during Q3, representing 4.6% of the fund's AUM, indicating confidence in the company's future potential.
- Strong Financial Performance: California Resources generated $279 million in operating cash flow and $188 million in free cash flow in Q3, sufficient to support shareholder returns and balance sheet repair, demonstrating resilience in a volatile energy market.
- Dividend Increase: The management raised the quarterly dividend by 5% to $0.405 per share, reflecting a commitment to creating shareholder value while maintaining cash flow, which enhances investor confidence.
- Market Performance Analysis: Despite a 14.5% decline in share price over the past year, the company's steady production levels and robust cash flow maintain its competitiveness in the highly volatile energy sector, showcasing the effectiveness of its strategic positioning.
See More
California Resources Corporation Signs MOU with Middle River Power for Carbon Management
- Carbon Management Partnership: California Resources Corporation (CRC) has signed a Memorandum of Understanding (MOU) with Middle River Power (MRP) to provide carbon transportation and sequestration services for brownfield power facilities in Northern California, marking a strategic expansion in CRC's carbon management efforts.
- Emission Reduction Goals: The collaboration will evaluate carbon capture and sequestration solutions for the 850 MW High Desert plant and the 330 MW San Joaquin Energy Center, which together could reduce up to 2.1 million and 0.65 million metric tons of CO₂ emissions annually, supporting California's decarbonization objectives.
- Exclusive Service Provision: Carbon TerraVault (CTV) will serve as the exclusive provider of CO₂ transportation and sequestration services for the aforementioned power facilities, ensuring safe and reliable operations that further drive the energy transition.
- Industry Trend: This MOU represents CRC's third agreement with a brownfield power producer, reflecting the growing focus within the power sector on economically viable decarbonization solutions, aligning with California's climate and reliability goals.
See More
Berry Corporation Secures 73% Shareholder Approval for Merger with CRC
- Shareholder Voting Outcome: At today's Special Meeting, Berry Corporation's shareholders approved the merger with California Resources Corporation (CRC) with approximately 73% of the votes, indicating strong support for this strategic consolidation, which is expected to enhance the company's market competitiveness.
- Fixed Exchange Ratio: Under the merger agreement, Berry shareholders will receive 0.0718 shares of CRC common stock for each share of Berry common stock, providing a stable value transfer that facilitates resource integration and optimization between the two companies.
- Transaction Closing Timeline: The transaction is expected to close on December 18, which will present new growth opportunities for Berry and potentially improve its overall performance in the energy market.
- Subsequent Reporting: Berry will report the final voting results in a Form 8-K to be filed with the SEC, ensuring transparency and bolstering investor confidence, further solidifying positive market expectations regarding the merger.
See More
Analysis of Insider Buying in Small-Cap ETF
- Insider Buying Ratio: Within the iShares S&P Small-Cap 600 Value ETF, 10.2% of holdings have seen insider buying in the past six months, indicating management's confidence in future growth, which may attract more investor interest.
- Lumen Technologies Activity: Lumen Technologies, comprising 0.63% of the ETF, has had 2 directors and officers purchase shares recently, reflecting a positive outlook from insiders that could bolster market confidence in its stock.
- California Resources Transactions: California Resources Corp, ranked 27th in the ETF with approximately 0.54% allocation, also saw 2 directors and officers file for recent stock purchases, suggesting a proactive stance from its governance team that may enhance investor trust.
- ETF Asset Allocation: The total holdings of LUMN and CRC in the iShares S&P Small-Cap 600 Value ETF are valued at $46,399,924 and $40,312,778 respectively, highlighting their significance in the ETF's investment strategy, which could influence overall investment decisions.
See More
Sourcerock Increases Stake in California Resources Corporation to 3.18 Million Shares
- Increased Stake: Sourcerock Group raised its stake in California Resources Corporation by 1.18 million shares in Q3, bringing total holdings to 3.18 million shares, with a value increase to $169.14 million, indicating strong confidence in the company.
- Asset Allocation: Following the increase, California Resources now represents 11.5% of Sourcerock's 13F assets, highlighting its significance in the investment portfolio and potentially influencing future investment decisions.
- Cash Flow Performance: In Q3, California Resources generated $279 million in operating cash flow and $188 million in free cash flow, demonstrating financial resilience amid oil price fluctuations, which supports dividend and buyback initiatives.
- Dividend Growth: The company's management raised the quarterly dividend by 5% to $0.405 per share while retiring its 2026 notes, enhancing liquidity and showcasing robust financial management capabilities.
See More
Kore Advisors Acquires $4 Million Stake in California Resources Corporation
- New Investment Position: Kore Advisors established a new stake in California Resources Corporation by acquiring 75,141 shares worth approximately $4 million during Q3, representing 4.6% of the fund's reportable U.S. equity holdings.
- Portfolio Diversification: This investment increased Kore Advisors' total number of reportable positions to 13, enhancing the diversity within its $87.48 million assets under management.
- Market Performance Analysis: Despite California Resources Corporation's share price of $44.04 reflecting a 14.5% decline over the past year, the company's stable cash flow and dividend growth indicate a degree of resilience in the energy market.
- Financial Health Status: The company generated $279 million in operating cash flow and $188 million in free cash flow in Q3, supporting its strategy for shareholder returns and debt reduction, showcasing its resilience in a volatile market.
See More
Kore Advisors Acquires 75,141 Shares in California Resources Corporation, Representing 4.6% Stake
- New Investment Position: Kore Advisors initiated a stake in California Resources Corporation by acquiring 75,141 shares worth approximately $4 million during Q3, representing 4.6% of the fund's AUM, indicating confidence in the company's future potential.
- Strong Financial Performance: California Resources generated $279 million in operating cash flow and $188 million in free cash flow in Q3, sufficient to support shareholder returns and balance sheet repair, demonstrating resilience in a volatile energy market.
- Dividend Increase: The management raised the quarterly dividend by 5% to $0.405 per share, reflecting a commitment to creating shareholder value while maintaining cash flow, which enhances investor confidence.
- Market Performance Analysis: Despite a 14.5% decline in share price over the past year, the company's steady production levels and robust cash flow maintain its competitiveness in the highly volatile energy sector, showcasing the effectiveness of its strategic positioning.
See More
California Resources Corporation Signs MOU with Middle River Power for Carbon Management
- Carbon Management Partnership: California Resources Corporation (CRC) has signed a Memorandum of Understanding (MOU) with Middle River Power (MRP) to provide carbon transportation and sequestration services for brownfield power facilities in Northern California, marking a strategic expansion in CRC's carbon management efforts.
- Emission Reduction Goals: The collaboration will evaluate carbon capture and sequestration solutions for the 850 MW High Desert plant and the 330 MW San Joaquin Energy Center, which together could reduce up to 2.1 million and 0.65 million metric tons of CO₂ emissions annually, supporting California's decarbonization objectives.
- Exclusive Service Provision: Carbon TerraVault (CTV) will serve as the exclusive provider of CO₂ transportation and sequestration services for the aforementioned power facilities, ensuring safe and reliable operations that further drive the energy transition.
- Industry Trend: This MOU represents CRC's third agreement with a brownfield power producer, reflecting the growing focus within the power sector on economically viable decarbonization solutions, aligning with California's climate and reliability goals.
See More
Berry Corporation Secures 73% Shareholder Approval for Merger with CRC
- Shareholder Voting Outcome: At today's Special Meeting, Berry Corporation's shareholders approved the merger with California Resources Corporation (CRC) with approximately 73% of the votes, indicating strong support for this strategic consolidation, which is expected to enhance the company's market competitiveness.
- Fixed Exchange Ratio: Under the merger agreement, Berry shareholders will receive 0.0718 shares of CRC common stock for each share of Berry common stock, providing a stable value transfer that facilitates resource integration and optimization between the two companies.
- Transaction Closing Timeline: The transaction is expected to close on December 18, which will present new growth opportunities for Berry and potentially improve its overall performance in the energy market.
- Subsequent Reporting: Berry will report the final voting results in a Form 8-K to be filed with the SEC, ensuring transparency and bolstering investor confidence, further solidifying positive market expectations regarding the merger.
See More
