California Resources Publishes Third-Quarter 2026 Earnings Call Transcript
Bitget2026/11/05 02:10- California Resources’ November 3 third-quarter 2026 earnings call featured CEO Francisco Leon, CFO Clio Crespy and investor relations chief Daniel Juck.
- Adjusted EBITDAX reached $341 million, exceeding guidance; fourth-quarter adjusted EBITDAX is projected at about $316 million.
- Management targets restarting the San Pablo Bay pipeline in first-quarter 2027, with a more meaningful financial contribution expected in the second half.
- A memorandum of understanding with Bloom Energy targets at least 1 gigawatt of fuel-cell power with carbon capture, financed by third-party developers.
- The planned six-rig program targets flat gross production from entry to exit in 2027, requiring $450 million–$475 million in drilling and workover capital.
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