California Resources (CRC) Misses Q1 EPS by 19c

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Go back to California Resources (CRC) Misses Q1 EPS by 19c

California Resources Reports First Quarter 2022 Results, Increases and Extends Its Share Repurchase Program, Raises 2022 Guidance and Provides an Update on Its Carbon Management Business

May 5, 2022 6:00 AM EDT

SANTA CLARITA, Calif.--(BUSINESS WIRE)-- California Resources Corporation (NYSE: CRC), an independent oil and natural gas company committed to energy transition in the sector, today reported first quarter 2022 operational and financial results.

"CRC began 2022 on a good note as we continued to deliver strong operational results. Given our continued robust free cash flow generation and pristine balance sheet, we are increasing our share repurchase program by $300 million to $650 million in total, adding one drilling rig at our Wilmington Field and raising our full year guidance," said Mac McFarland, President and Chief... More