California Resources (CRC) Tops Q1 EPS by 5c

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Go back to California Resources (CRC) Tops Q1 EPS by 5c

California Resources Corporation Announces First Quarter 2016 Financial Results

May 5, 2016 4:19 PM EDT

LOS ANGELES--(BUSINESS WIRE)-- California Resources Corporation ("CRC" or the "Company") (NYSE: CRC), an independent California-based oil and gas exploration and production company, today announced an adjusted net loss1 of $100 million or ($0.26) per diluted share for the first quarter of 2016, compared with an adjusted net loss of $97 million or ($0.25) per diluted share for the first quarter of 2015. Adjusted EBITDAX2 for the first quarter of 2016 was $124 million, compared with $198 million for the first quarter of 2015.

Highlights Include:

Crude oil production of 98,000 barrels per day Total... More