California Resources Corporation Reports Strong Q3 2026 Results with Dividend Increase
California Resources Corporation (CRC) reported strong third-quarter 2026 financial results, characterized by an Adjusted EBITDAX of $341 million that exceeded quarterly guidance. The company saw a 2% sequential increase in net total production to 152,000 barrels of oil equivalent per day, largely driven by performance in the San Joaquin Basin. Operational efficiencies and synergy realizations from recent mergers contributed to a significant decline in adjusted G&A expenses. Strategic capital allocation remains a priority, as evidenced by a 4% dividend increase to $0.42 per share and $30 million in share repurchases. The company is also refining its portfolio through the acquisition of Crimson Midstream and the divestiture of Uinta Basin assets to sharpen its focus on California operations. Despite some legal headwinds regarding environmental certifications in Kern County, CRC maintains a robust liquidity position of $1.3 billion.
Tickers: $CRC
Topics: acquisition divestiture dividend increase earnings report share buyback