California Resources Corporation reported second quarter 2026 results including $514 million in net income, driven by a non-cash gain from commodity derivatives, while adjusted net income was $88 million. The company delivered average net production of 149 thousand barrels of oil equivalent per day and generated $338 million in adjusted EBITDAX. Management announced the acquisition of Crimson Midstream Holdings for $63 million to expand its integrated energy infrastructure platform. Additionally, CRC declared a quarterly cash dividend of $0.405 per share, payable on September 18, 2026, to shareholders of record on September 4, 2026. The company operates in the independent oil and gas exploration and production sector with carbon management initiatives.
