7 Aug 2024quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $514.0 million and net income of $8.0 million for the period ended 2024-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Aug 2024securities registration● Neutral
California Resources Corp filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
6 Aug 2024quarterly activities report● Neutral
California Resources Corp reported quarterly revenue of $514.0 million and net income of $8.0 million for the period ended 2024-06-30.
9 July 2024substantial holder notice● Neutral
Canada Pension Plan Investment Board disclosed a new substantial California Resources Corp shareholding (11.80% of votes).
9 July 2024substantial holder notice● Neutral
IKAV Energy Inc, IKAV Energy Holdings LLC, IKAV Inc, IKAV Energy Spain, S.L, SIMLOG Inc, Simlog S.à r.l, IKAV SICAV FIS SCA, IKAV General Partner S.à r.l, Institut für Kapitalanlagen und Vesicherungslösungen GmbH, IKAV Impact S.à r.l, Constantin von Wasserschleben disclosed a new substantial California Resources Corp shareholding (9.80% of votes).
9 July 2024director interest notice● Neutral
Pension Plan Investment Board Canada became a California Resources Corp 10%+ owner and company insider (initial ownership filing).
3 July 2024director interest notice● Neutral
California Resources Corp director Bobby Saadati received 3,365 shares as part of the equity award.
3 July 2024director interest notice● Neutral
California Resources Corp director James Ross Jackson received 3,365 shares as part of the equity award.
3 July 2024director interest notice● Neutral
Bobby Saadati became a California Resources Corp director and company insider (initial ownership filing).
1 July 2024asset acquisition disposition▲ GoodMajor
CRC completed its all-stock combination with Aera Energy, issuing 21,315,707 shares and making Aera a wholly-owned subsidiary. It appointed two directors under the IKAV and CPP stockholder agreements and raised its revolving credit commitments from $630 million to $1.1 billion.
21 June 2024director interest notice● Neutral
California Resources Corp EVP - Operations Omar Hayat had 4,262 shares withheld for taxes on vesting stock.
5 June 2024debt financing● Neutral
CRC closed its $600 million offering of 8.250% senior notes due 2029, the notes earmarked to fund repayment of Aera Energy's debt once the merger closes.
30 May 2024director interest notice● Neutral
California Resources Corp director Mark Allen Mcfarland sold 55,000 shares.
24 May 2024director interest notice● Neutral
California Resources Corp insider William B Roby bought 389 shares on the open market at $46.97.
24 May 2024director interest notice● Neutral
California Resources Corp insider Mark Allen Mcfarland sold 180,000 shares.
21 May 2024business combination● NeutralMajor
CRC priced an upsized $600 million bond offering to help fund the repayment of Aera Energy's debt as part of the pending merger; the notes carry a redemption trigger if the Aera deal doesn't close by May 2025.
20 May 2024quarterly activities report▼ Bad
CRC announced a proposed private offering of $500 million of senior unsecured notes due 2029. It planned to use the proceeds, cash and revolver borrowings to repay Aera's existing debt for the pending merger.
10 May 2024director interest notice● Neutral
California Resources Corp EVP and CFO Peralta Manuela Molina had 3,980 shares withheld for taxes on vesting stock.
10 May 2024director interest notice● Neutral
California Resources Corp EVP - Operations Omar Hayat had 104 shares withheld for taxes on vesting stock.
8 May 2024quarterly activities report▼ Bad
California Resources Corp reported quarterly revenue of $454.0 million and a net loss of $10.0 million for the period ended 2024-03-31.
7 May 2024director interest notice● Neutral
California Resources Corp director Mark Allen Mcfarland received 3,705 shares as part of the equity award.
7 May 2024director interest notice● Neutral
Christian S Kendall became a California Resources Corp director and company insider (initial ownership filing).
7 May 2024director interest notice● Neutral
California Resources Corp director Alejandra Veltmann received 3,705 shares as part of the equity award.
7 May 2024director interest notice● Neutral
California Resources Corp director Brady Nicole Elana Neeman received 3,705 shares as part of the equity award.
7 May 2024director interest notice● Neutral
California Resources Corp director Andrew B. Bremner received 3,705 shares as part of the equity award.
7 May 2024director interest notice● Neutral
California Resources Corp director William B Roby received 3,705 shares as part of the equity award.
7 May 2024director interest notice● Neutral
California Resources Corp director Christian S Kendall received 3,705 shares as part of the equity award.
7 May 2024business combination● NeutralMajor
CRC filed the final proxy statement for the Aera Energy deal and set the special shareholder meeting for June 26, 2024 (record date May 6, 2024). Holders vote on issuing 21,170,357 shares to Aera's sellers; the board unanimously recommends voting for. The deal cannot close without this approval, and if it fails CRC must reimburse the sellers' expenses or in some cases pay a termination fee.
7 May 2024director interest notice● Neutral
California Resources Corp director Tiffany Thom Cepak received 6,021 shares as part of the equity award.
7 May 2024director interest notice● Neutral
California Resources Corp director James N Chapman received 3,705 shares as part of the equity award.