About

California Resources Corporation (CRC) is an independent energy and carbon management company committed to energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing carbon capture and storage (CCS) and other emissions reducing projects.

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Mission

To deliver long-term investment value by safely developing our portfolio of responsibly sourced energy assets and reducing carbon emissions through our carbon management business to benefit our communities and the environment.

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Vision

To be the premier leader in the energy transition, providing local, responsibly sourced energy and sustainable carbon management solutions.

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Values

  • Character: Acting with integrity and honor, without exception
  • Responsibility: California’s high standards for safety and environmental protection
  • Commitment: Respecting our neighbors and advancing community interests for ample, affordable and reliable energy

Highlights

  • In July 2024, CRC announced the completion of its merger with Aera Energy, LLC.

  • In December 2023, U.S. EPA releases Draft Class VI Permits for CRC’s Carbon TerraVault for CO2 Injection and Storage in California

  • In August 2023, Carbon TerraVault’s California DAC Hub Consortium selected for U.S. DOE funding to bring Direct Air Capture and Storage to the Golden State

  • Has applied for permits for multiple Carbon TerraVault carbon capture and storage projects in the San Joaquin and Sacramento Basins.

  • Formed a JV with Brookfield Renewable focused on CCS development opportunities; with an initial $500 million commitment to invest in CCS projects.

  • In April 2022, announced new and updated ESG goals on methane; freshwater usage; diversity, equity and inclusion; community giving; and executive pay.