California Resources Corporation Is A Spin-Off With A Substantial Opportunity In The Golden State
- CRC has at least 200% upside if the price of oil can return to the $90-$100 level.
- Commodity price volatility is lessened because of management’s tremendous track record of capital allocation and improved operational efficiencies in the newly formed CRC.
- Monterey Shale reserves offer a lucrative opportunity - at worst likely to double shale reserves, at best access to 2/3 of all recoverable shale reserves in the lower 48.
- Projected oil volume growth of 15% compounded annually through 2016.
- Management thinks California has one of the lowest risk growth profiles in the industry.
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