4 Nov 2019quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $681.0 million and net income of $94.0 million for the period ended 2019-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Sept 2019material agreement● Neutral
CRC amended its 2014 credit facility again, this time to allow flexibility for royalty-interest transactions.
15 Aug 2019securities registration● Neutral
California Resources Corp filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
1 Aug 2019quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $653.0 million and net income of $12.0 million for the period ended 2019-06-30.
1 Aug 2019quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $653.0 million and net income of $12.0 million for the period ended 2019-06-30.
23 July 2019capital raising announcement▲ GoodMajor
CRC formed a joint venture with Colony Capital's energy arm, Colony HB2 Energy, which committed $320 million (up to $500 million if all parties agree) to develop the Elk Hills field. Colony funds 100% of about 275 wells over roughly three years and earns a 90% working interest, with CRC's interest reverting from 10% to 82.5% once Colony reaches an agreed return. Colony also receives warrants for up to 800,000 shares (up to 1.25 million if the commitment grows) at $40 per share, which would dilute shareholders if exercised. CRC says the deal helps its deleveraging efforts.
2 May 2019quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $690.0 million and a net loss of $67.0 million for the period ended 2019-03-31.
2 May 2019quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $690.0 million and a net loss of $67.0 million for the period ended 2019-03-31.
14 Feb 2019substantial holder notice● Neutral
Masters Capital Management, LLC, Michael Masters disclosed a new substantial California Resources Corp shareholding (7.82% of votes).
11 Feb 2019substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial California Resources Corp shareholding (7.59% of votes).
4 Feb 2019substantial holder notice● Neutral
BlackRock, Inc reported a California Resources Corp shareholding of 3,263,108 shares (6.70% of votes) in a periodic institutional filing.
16 Nov 2018securities registration● Neutral
California Resources Corp filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
16 Nov 2018securities registration● Neutral
California Resources Corp filed a prospectus supplement for an at-the-market offering of up to 6,000,000 common shares through five sales agents, under a new shelf registration filed the same day. Sales agents earn a commission of up to 2%.
16 Nov 2018material agreement termination● Neutral
CRC replaced the at-the-market stock-sale program it had set up alongside its November 2017 financing, swapping sole underwriter Morgan Stanley for a syndicate of five banks without increasing the shares authorized for sale; no shares had been sold under the original program.
1 Nov 2018quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $828.0 million and net income of $66.0 million for the period ended 2018-09-30.
1 Nov 2018quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $828.0 million and net income of $66.0 million for the period ended 2018-09-30.
3 Oct 2018quarterly activities report● Neutral
CRC announced it would hold its 2018 Analyst & Investor Day in New York on October 3, where it would review strategy, performance and capital position and give preliminary third-quarter and year-to-date 2018 estimates.
18 Sept 2018material agreement● Neutral
CRC amended its November 2017 credit agreement to let it repurchase second lien and senior notes at a discount to par and to refinance its notes and term loan more easily. A previously announced amendment to its 2014 credit agreement also became effective.
2 Aug 2018quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $549.0 million and a net loss of $82.0 million for the period ended 2018-06-30.
2 Aug 2018quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $549.0 million and a net loss of $82.0 million for the period ended 2018-06-30.
17 May 2018substantial holder notice● Neutral
CHEVRON CORPORATION reported a California Resources Corp shareholding of 1,950,000 shares (4.04% of votes) in a periodic institutional filing.
11 May 2018securities registration● Neutral
California Resources Corp filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
9 May 2018quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $609.0 million and a net loss of $2.0 million for the period ended 2018-03-31.
3 May 2018quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $609.0 million and a net loss of $2.0 million for the period ended 2018-03-31.
16 Apr 2018substantial holder notice● Neutral
CHEVRON CORPORATION disclosed a new substantial California Resources Corp shareholding (6.20% of votes).
11 Apr 2018capital raising announcement● Neutral
This amendment only re-tags the original April 9, 2018 8-K in the SEC system and changes none of its text. That original report covered CRC's purchase from Chevron of the remaining interests in the 47,000-acre Elk Hills field for $460 million cash plus 2,850,000 CRC shares, effective April 1, 2018. Chevron's resale of the shares is limited under a registration rights agreement. This gives CRC the remaining ownership of Elk Hills, but the filing itself adds nothing new.
9 Apr 2018asset acquisition disposition▲ GoodMajor
CRC bought out Chevron's remaining working, surface and mineral interests in the Elk Hills field for $460 million cash plus 2.85 million CRC shares, giving CRC full ownership of its flagship 47,000-acre asset for the first time.
16 Feb 2018securities registration● Neutral
California Resources Corp filed notice of an exempt private placement.
14 Feb 2018director interest notice● Neutral
California Resources Corp EVP - Public Affairs Charles F. Weiss had 5,060 shares withheld for taxes on vesting stock.
14 Feb 2018director interest notice● Neutral
California Resources Corp Senior EVP & CFO Marshall D Smith had 5,979 shares withheld for taxes on vesting stock.