California Resources reported a third-quarter net loss of $315 million, driven by a $540 million non-cash loss from commodity derivative fair value changes, while adjusted net income was $104 million. The company raised its quarterly dividend by 4% to $0.42 per share and delivered average net production of 152 thousand barrels of oil equivalent per day. It also closed the acquisition of Crimson Midstream and signed an agreement to divest Uinta Basin assets for approximately $90 million. California Resources is an independent energy company focused on oil, gas, and carbon management in California.
