California Resources Corporation (NYSE: CRC) is an independent exploration and production company headquartered in Los Angeles, California. Formed in 2014 as a spin-off from Occidental Petroleum, the company focuses on developing onshore oil and natural gas assets within the state of California. CRC’s portfolio centers on heavy and light oil production, along with associated gas, leveraging both conventional and emerging technologies to enhance recovery rates and optimize field performance.
CRC’s principal operating regions include the San Joaquin Basin in central California and the Los Angeles Basin in Southern California, where it holds interests in both mature and newly developed fields. The company applies horizontal drilling and multi-stage hydraulic fracturing in select properties, while also piloting steam-based enhanced oil recovery techniques in heavier oil zones. CRC’s asset base is complemented by extensive midstream infrastructure, including pipelines, processing facilities and water-handling systems that support efficient resource development.
In addition to upstream operations, California Resources places emphasis on environmental stewardship and regulatory compliance under California’s stringent rules. The company has invested in water recycling programs, emissions monitoring and seismic risk mitigation to align with state sustainability goals. CRC also engages with local communities and stakeholders to address land use, habitat protection and workforce development across its operating areas.
Trading on the New York Stock Exchange since its inception, CRC maintains a disciplined approach to capital allocation, balancing exploration, production growth and debt management. While focused on maximizing value from its core California assets, the company continues to evaluate strategic opportunities for portfolio optimization and long-term resilience in the evolving energy landscape.
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