California Resources Corporation (NYSE:CRC) Files An 8-K Other Events
Item 8.01 Other Events.
Company), issued a press release announcing a joint venture with
Macquarie Infrastructure and Real Assets Inc. (MIRA) to invest up
to $300 million in certain of the Companys oil and gas properties
in California. A copy of the press release is furnished as
Exhibit 99.1 to this report on Form 8-K, and is incorporated
herein by reference.
Companys or its managements expectations or predictions of the
future are forward-looking statements intended to be covered by
the safe harbor provisions of the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended. It
is important to note the Companys actual results could differ
materially from those projected in such forward-looking
statements. Factors that could affect those results include those
identified in the documents that the Company has filed with the
SEC.
or revise the information contained in this report although the
Company may do so from time to time as management believes is
warranted. Any such updating may be made through the filing of
other reports or documents with the SEC.
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Exhibit No.
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Description
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99.1
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Press Release dated April 19, 2017
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About California Resources Corporation (NYSE:CRC)
California Resources Corporation is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produces approximately 160 thousand barrels of oil equivalent per day (MBoe/d). It has net proved reserves of over 640 million barrels of oil equivalent (MMBoe). It operates approximately three drilling rigs across the state with over two located in the San Joaquin basin (steamflood activities) and approximately one in the Los Angeles basin (waterflood activities). It has drilled over 290 gross development wells with over 250 wells in the San Joaquin basin and approximately 30 wells in the Los Angeles basin. It has also drilled approximately three exploration wells in the San Joaquin basin. Its operations include approximately 140 fields with over 9,070 gross active wellbores. It sells its crude oil, natural gas and natural gas liquids production to marketers, California refineries and other purchasers. California Resources Corporation (NYSE:CRC) Recent Trading Information
California Resources Corporation (NYSE:CRC) closed its last trading session down -0.43 at 12.44 with 2,325,465 shares trading hands.
