California Resources (CRC) Extends Share Buyback by $300M

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Go back to California Resources (CRC) Extends Share Buyback by $300M

California Resources Reports First Quarter 2022 Results, Increases and Extends Its Share Repurchase Program, Raises 2022 Guidance and Provides an Update on Its Carbon Management Business

May 5, 2022 6:00 AM EDT

SANTA CLARITA, Calif.--(BUSINESS WIRE)-- California Resources Corporation (NYSE: CRC), an independent oil and natural gas company committed to energy transition in the sector, today reported first quarter 2022 operational and financial results.

"CRC began 2022 on a good note as we continued to deliver strong operational results. Given our continued robust free cash flow generation and pristine balance sheet, we are increasing our share repurchase program by $300 million to $650 million in total, adding one drilling rig at our Wilmington Field and raising our full year guidance," said Mac McFarland, President and Chief... More