California Resources Corporation (CRC) drives growth and value creation through our successful exploration program that is focused on established, world-class hydrocarbon basins with the infrastructure to quickly turn new discovered resources into production.
CRC geoscientists evaluate opportunities with regard to their likelihood of recoverable hydrocarbons, reserve potential and economic value. Exploration targets range from new plays and concepts in both conventional and unconventional reservoirs, to extension and appraisal opportunities in proven play trends near established fields.
To identify opportunities, we utilize recent advances in technology, as well as solid geologic fundamentals. Advances in seismic imaging and new conceptual ideas in stratigraphy and structural geology play a role, but just as important is a diligent integration of previously drilled wells, geologic field work and regional analogs.
Coupled with creativity and our industry leading land position, this work enables CRC’s geoscientists to challenge conventional wisdom and identify new plays and prospects in mature areas that have significant resource potential and running room.
CRC is also exploring for oil and gas in unconventional reservoirs, where stimulation techniques enable production from low permeability rocks. These types of plays have added significant production reserves and value to our operations.