Steve Zachritz
Growth, long-term horizon, commodities, oil & gas

California Resources Corp.: Oily Name To Watch

California Resources (NYSEMKT:CRC) - And Now For Something Completely Different - A Brief Look at an Oily California E&P, New To The Market This Month But Not New To California

The Basic Story:

    California Resources was spun out of Occidental Petroleum (NYSE:OXY) on December 1, 2014 but has been operating in California since the 1950's; OXY retained about 20% and plans to spin the rest out in the next 18 months. This was all of OXY's California E&P assets, and as such, CRC is an all California show. They operate in three big oil country basins and one gassy basin, with the majority of production coming from two of the oily ones: the San Joaquin (71%...
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