California Resources Corporation (CRC) is an oil and natural gas exploration and production company operating high-growth, high-return conventional and unconventional assets exclusively in California. CRC explores for, produces, gathers, processes and markets crude oil, natural gas and natural gas liquids. CRC makes significant use of advanced technologies to enhance safety and efficient production across our leading mineral acreage position and diverse portfolio. These technologies enable more production while minimizing the footprint of oil and gas development. Californians can be confident that CRC is a responsible steward of the environment in its development of the energy resources that power the state. In fact, CRC holds an A- ranking for climate disclosure from the CDP (formerly the Climate Disclosure Project) – the highest grade awarded to any U.S.-based oil and gas company in 2019.
CRC provides “Energy for California by Californians.” California homes, farms, businesses and communities need ample, affordable and reliable energy. CRC’s dedicated workforce of typically more than 4,000 California employees and contractors develops dependable local oil and natural gas reserves that help to reduce our state’s chronic dependence on imported energy. For the past six years, our employees have received Excellence Achievement Awards from the National Safety Council for their exemplary safety performance across our statewide operations. In fact, our California workforce received 22 National Safety Council awards in 2019, and achieved the best safety record in the long history of our fields and operations, with zero employee injuries for well over a year, and a safety rate for our combined workforce that is better than radio broadcasters, insurance agents and stockbrokers.
CRC is also an economic engine for California supporting thousands of jobs and careers. Since 2014, our operations have invested approximately $11.4 billion with more than 2,000 suppliers and vendors and provided more than $2 billion in oil and gas revenues and taxes to the State and our host counties and cities where we live and work. And, because CRC is invested solely in the Golden State, Californians can take pride that all of CRC’s oil and natural gas resources – unlike imported energy – have been produced under the state’s world-leading safety, labor, human rights and environmental standards.
CRC is the largest oil and natural gas producer in California. With approximately 2.2 million net mineral acres spanning the state's four major oil and gas basins, we also believe CRC holds the state’s largest private mineral acreage position. We have a sizable inventory of approximately 32,280 gross identified drilling locations and 6,400 gross unconventional exploration drilling locations throughout the state in our portfolio of conventional and unconventional opportunities from which we plan to generate production growth over the longer term.
Visit our Investor Relations section for important information about drilling locations.
As an independent company operating exclusively on California, we apply advanced technologies to grow local energy production in a safe, environmentally responsible and cost-effective manner that is consistent with the interests of our surrounding communities.