California Resources Corporation, incorporated on April 23, 2014, is an independent oil and natural gas exploration and production company, with operating properties within the State of California. The Company produced approximately 140 thousand barrels of oil equivalent per day (MBoe/d), as of December 31, 2016. As of December 31, 2016, the Company had net proved reserves of 568 million barrels of oil equivalent (MMBoe). As of December 31, 2016, it drilled 42 development wells with 37 wells in the San Joaquin basin and five in the Los Angeles basin, which included over 30 steamflood and eight waterflood wells. As of December 31, 2016, the Company produced 36 billion barrels of oil equivalent (BBoe), including approximately 20 BBoe in the San Joaquin basin, 11 BBoe in the Los Angeles basin, three BBoe in the Ventura basin and 10 trillion cubic feet (Tcf) of natural gas in the Sacramento basin. Its operations included 135 fields with 8,837 gross active wellbores, as of December 31, 2016. The Company sells its crude oil, natural gas and natural gas liquids (NGLs) production to marketers, California refineries and other purchasers.
San Joaquin Basin
As of December 31, 2016, the Company operated and was developing 45 fields in this inland basin in the southern part of California's central valley, which consisted of conventional primary, improved oil recovery (IOR), enhanced oil recovery (EOR) and unconventional project types with approximately 1.5 million net acres. The Company is developing steamfloods in its Kern Front operations, which are located next to the Kern River field, and in the northwest portion of the Lost Hills field. The Company has established an ownership interest in various existing oil fields in the San Joaquin basin, including Elk Hills, as well as the Buena Vista and Kettleman North Dome fields Elk produced over two BBoe, as of December 31, 2016. As of December 31, 2016, it produced 52 MBoe/d on average from its Elk Hills properties. As of December 31, 2016, it operated natural gas processing facilities, including a cryogenic gas plant, with a combined capacity of over 590 million cubic feet per day (MMcf/d).
Los Angeles Basin
As of December 31, 2016, the Company operated and was developing eight fields in Los Angeles Basin. It consists of conventional primary, IOR, EOR and unconventional project types. The basin is a northwest-trending plain of approximately 50 miles long and over 20 miles. As of December 31, 2016, the Los Angeles basin had crude oil in the world with 68 fields in an area of approximately 0.3 million acres. The basin contains various stacked formations throughout its depths. Its oil fields include the Wilmington and Huntington Beach fields. The Wilmington field is located in Long Beach in the United States. As of December 31, 2016, the Wilmington field produced over 2.9 BBoe. As of December 31, 2016, it produced approximately 33 MBoe/d gross on average.
Ventura Basin
As of December 31, 2016, the Company operated and was developing approximately 29 fields in this central California coastal basin. It consists of primary conventional, IOR, EOR and unconventional project types. The Ventura basin is the onshore part of a structural feature and its offshore extension is the modern Santa Barbara basin.
Sacramento Basin
As of December 31, 2016, the Company operated and developed 53 fields in this inland basin in the northern part of California's central valley, primarily consisting of dry gas production. The Company holds approximately 0.5 million net acres in the Sacramento basin. The Sacramento basin is a deep, elongated northwest-trending basin covering approximately 7.7 million acres.
9200 Oakdale Ave Fl 9
The company trades on NYSE exchange. The company headquarter is located in Los Angeles, CA, United States. The company was established in the 2014.| Ticker | CRC |
| Long Name | California Resources Corporation |
| Short Name | California Resources |