California Resources Q1 Earnings Call Highlights
Key takeaways
- California Resources Q1 Earnings Call Highlights Market Beat Sun, May 10, 2026 at 5:06 AM GMT+7 7 min read CRC CL=F California Resources logo Key Points Interested in California Resources Corporation?
- California Resources beat Q1 expectations with adjusted EBITDA of $304 million, above guidance, and management raised its 2026 outlook.
- CRC is accelerating drilling while reducing capital intensity, planning a seven-rig peak this summer and targeting 175,000 boe/d exit production in 2026.
California Resources Q1 Earnings Call Highlights Market Beat Sun, May 10, 2026 at 5:06 AM GMT+7 7 min read CRC CL=F California Resources logo Key Points Interested in California Resources Corporation? Here are five stocks we like better.
California Resources beat Q1 expectations with adjusted EBITDA of $304 million, above guidance, and management raised its 2026 outlook. The company also said free cash flow should exceed $800 million for the year.
CRC is accelerating drilling while reducing capital intensity, planning a seven-rig peak this summer and targeting 175,000 boe/d exit production in 2026. Management said it can now grow production with an average of five rigs and less than $400 million of drilling capital, helped by higher oil prices and Berry merger synergies.