Investor Relations

California Resources Corporation (CRC) is an oil and gas exploration and production company operating properties exclusively in the state of California.

CRC's business strategy is to maximize stockholder returns by safely, profitably and responsibly developing high-growth, high-return conventional and unconventional assets exclusively in California, while benefitting our communities and the state.

Principal elements of our business strategy:

  • Focus on high-value crude oil-weighted projects
  • Maintain an appropriate share of conventional projects in our production mix to manage production declines
  • Enhance stockholder value by pursuing upstream and midstream joint venture opportunities including exploration ventures
  • Increase natural gas production over time to provide clean energy to California
  • Maintain a proactive and collaborative approach to safety, environmental protection and community outreach, while helping the state address its energy and water needs
  • Apply proven modern development and production methods to enhance production growth and cost efficiency
  • Utilize advanced technologies to improve our operations

California Resources Spin-Off FAQs

Effective November 30, 2014, Occidental Petroleum (OXY) completed a spin-off of the stock of California Resources Corporation (CRC), into an independent, publicly traded corporation that was listed on the New York Stock Exchange on December 1, 2014. The spin-off was effectuated by way of a pro rata distribution of just over 80 percent of CRC’s outstanding common stock to holders of OXY common stock as of the November 17, 2014 record date. Each OXY stockholder received 0.4 shares of CRC common stock for each share of OXY common stock held by such stockholder on the record date. More information on the spin the 2014 cost basis calculation and IRS form 8937 may be found on CRC’s FAQ page.

The final share distribution in the spin-off of California Resources from our former-parent occurred on March 24, 2016 when Occidental Petroleum (OXY) distributed 71,500,000 shares to OXY stockholders of record as of February 29, 2016. Occidental estimated that stockholders would receive 0.094 shares of CRC for each share of OXY held on the record date. More information on the spin and special dividend fact sheet and tax basis may be found on CRC’s FAQ page.

California Resources Corporation's Guidelines for Cost Basis Calculations


4th Quarter 2019 Earnings Presentation

February 26, 2020

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Key Contact

  • Investor Relations

  • Scott Espenshade
  • Senior Vice President - Investor Relations
  • (818) 661-6010
  • Email Investor Relations

  • Transfer Agent

  • American Stock Transfer and
    Trust Company, LLC
  • Shareholder Services
  • 6201 15th Avenue
  • Brooklyn, NY 11219
  • (866) 659-2647