Short answer
California Resources Corp (CRC) filed an 8-K current report with the SEC on August 10, 2026 reporting Item 2.02 (Results of Operations and Financial Condition), Item EX-99.1 (Exhibit EX-99.1). CRC reported financial condition and operating results for three and six months ended June 30, 2026.
California Resources Corp 8-K event analysis
AI summary of each reported item and its exhibits
Item 2.02 · Results of Operations and Financial Condition
- CRC reported financial condition and operating results for three and six months ended June 30, 2026
- Results press release furnished as Exhibit 99.1, containing the substantive financial details for investor review
Item EX-99.1 · Exhibit EX-99.1
- Q2 revenue $1,297M and net income $514M, boosted by a $205M commodity-derivative gain; adjusted net income $88M better reflects underlying performance
- Free cash flow $114M and adjusted EBITDAX $338M, supporting $36M of shareholder distributions
- Production declined to 149 MBoe/d from 154 MBoe/d, while takeaway constraints built 137 MBo inventory and reduced cash generation by approximately $25M
- 2026 guidance reaffirmed at 150–155 MBoe/d production, $520–$560M capital investment and $1,200–$1,300M adjusted EBITDAX
- Crimson acquisition for $63M adds California pipeline and storage infrastructure; debt refinancing extends maturities with new 7.250% notes due 2035
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