CALIFORNIA RESOURCES


Associated tags: CCS, Carbon, California Resources Corporation, CRC, Energy, Oil, Gas, Environment, Utilities, NYSE, Other Energy, Alternative Energy, Petroleum & Resources Corporation, Renewable energy, CTV, Green Technology

Locations: US, SACRAMENTO, WASHINGTON, NEW YORK CITY, NY, NEW YORK, VI, UNITED STATES, NORTH AMERICA, CALIFORNIA, KENDALL

Lone Cypress Announces Completion of the Front-End Engineering Design Study for its California Blue Hydrogen Project

Retrieved on: 
Tuesday, August 15, 2023
Hydrogen, Carbon, Partnership, Lone Cypress, CRC, CTV, Brookfield Renewable Partners, FEED, Engineering, California Resources Corporation, Oil, Inglewood Oil Field

TULSA, Okla., Aug. 15, 2023 /PRNewswire/ -- Lone Cypress Energy Services ("Lone Cypress") today announced the completion of the Front-End Engineering Design (FEED) study for its Lone Cypress Hydrogen Project located at the Elk Hills Field in Kern County, California.

Key Points: 
  • TULSA, Okla., Aug. 15, 2023 /PRNewswire/ -- Lone Cypress Energy Services ("Lone Cypress") today announced the completion of the Front-End Engineering Design (FEED) study for its Lone Cypress Hydrogen Project located at the Elk Hills Field in Kern County, California.
  • Lone Cypress announces completion of the Front-End Engineering Design study for its blue hydrogen project in California.
  • The Lone Cypress Hydrogen Project represents a partnership between Lone Cypress and Carbon TerraVault JV Holdco, LLC ("CTV"), a joint venture between California Resources Corporation ("CRC") and Brookfield Renewable.
  • "CTV is pleased to be working with Lone Cypress to develop its blue hydrogen facility at our Elk Hills Field.

Carbon TerraVault’s California DAC Hub Consortium Selected for U.S. DOE Funding to Bring Direct Air Capture and Storage to the Golden State

Retrieved on: 
Friday, August 11, 2023
Energy, Other Energy, Utilities, Oil, Gas

With selection for the DOE funding, the California DAC Hub is also eligible for additional funding from the California Energy Commission.

Key Points: 
  • With selection for the DOE funding, the California DAC Hub is also eligible for additional funding from the California Energy Commission.
  • The California DAC Hub consortium is comprised of approximately 40 organizations from across industry, community, tribes, government, technology, national labs, academia, labor, and workforce development.
  • The California DAC Hub is expected to help accelerate the Golden State’s climate leadership and achieve its carbon neutrality goal.
  • I look forward to working with the California DAC Hub Consortium on this project which will serve as a HUB model across California."

Verde Clean Fuels Announces Carbon Capture Agreement for Renewable Gasoline Plant in California

Retrieved on: 
Tuesday, August 1, 2023
Environment, Utilities, Oil, Gas, Alternative Energy, Sustainability, Green Technology, Energy, Agriculture, Natural Resources, Carbon, Heart, Partnership, Carbon dioxide, CRC, CDMA, Gasoline, CTV, BEP, GHG, CDMA spectral efficiency, Fuel pump, Brookfield Renewable Partners, FID, RG, Natural gas, CO2, Transport, Biomass, California Resources Corporation, NYSE, Economics, Renewable energy

Verde Clean Fuels (“Verde”) (Nasdaq: VGAS), a company focused on becoming the leading supplier of gasoline and other fuels derived from renewable feedstocks or natural gas, today announced a Carbon Dioxide Management Agreement (CDMA) between Verde and Carbon TerraVault JV HoldCo, LLC (“CTV JV”), a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation (“CRC”) (NYSE: CRC), and Brookfield Renewable (NYSE: BEP).

Key Points: 
  • Verde Clean Fuels (“Verde”) (Nasdaq: VGAS), a company focused on becoming the leading supplier of gasoline and other fuels derived from renewable feedstocks or natural gas, today announced a Carbon Dioxide Management Agreement (CDMA) between Verde and Carbon TerraVault JV HoldCo, LLC (“CTV JV”), a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation (“CRC”) (NYSE: CRC), and Brookfield Renewable (NYSE: BEP).
  • Under the terms of the agreement, Verde will construct a new renewable gasoline production facility at CRC’s existing Net Zero Industrial Park in Kern County, California.
  • “This new agreement between CTV JV and Verde Clean Fuels provides an innovative approach to renewable fuels at the heart of energy development in the state, and further validates CRC’s decarbonization efforts by a publicly traded company looking to expand in California.”
    The renewable gasoline facility will employ Verde proprietary and innovative liquid fuels technology to convert synthetic gas (syngas) into renewable gasoline.
  • ( www.inentec.com ) The project is expected to produce approximately 7 million gallons per year of renewable gasoline for use as transportation fuel.

California Resources Corporation Reports Strong Second Quarter 2023 Financial Results and Provides Updates on Carbon Management Business

Retrieved on: 
Monday, July 31, 2023
Other Energy, Utilities, Oil, Gas, Sustainability, Environment, Alternative Energy, Energy, Green Technology, NYMEX, Class 6, International, CRC, Class, CDMA, Line of credit, CTV, G&A, GAAP, NGL, Carbon, Share repurchase, EPA, FID, Credit Accumulation and Transfer Scheme, Sacramento, California, Corporation, CRC Energy Efficiency Scheme, Webcast, BOE, PSC, Adjustment, Lone Cypress, Press release, Conference, CO2, Economics, Bankruptcy, Gasoline, Bank, Holding company, Cryptocurrency

As of June 30, 2023, the Class VI application for CTV IV was determined to be administratively complete.

Key Points: 
  • As of June 30, 2023, the Class VI application for CTV IV was determined to be administratively complete.
  • The aggregate commitment under CRC's Revolving Credit Facility was $627 million as of June 30, 2023, which includes a net $25 million increase that occurred during the second quarter of 2023.
  • The dividend is payable to shareholders of record on September 1, 2023 and will be paid on September 15, 2023.
  • During the second quarter of 2023, CRC repurchased 1.6 million shares for $64 million at an average price of $39.12 per share.

Carbon TerraVault Provides Second Quarter 2023 Update

Retrieved on: 
Monday, July 31, 2023
Other Energy, Environment, Oil, Gas, Alternative Energy, Green Technology, Energy, Climate Change, Carbon, Heart, Class 6, Partnership, CRC, CDMA, Carbon dioxide, Gasoline, MMT, CTV, CDMA spectral efficiency, Petroleum & Resources Corporation, NYSE, EPA, FID, RG, Natural gas, Transport, Biomass, California Resources Corporation, CO2, Economics, Renewable energy, Lone Cypress

CRC also more than doubled the expected sequestration volume of its previously announced Lone Cypress Energy Services, LLC, (Lone Cypress) blue hydrogen project.

Key Points: 
  • CRC also more than doubled the expected sequestration volume of its previously announced Lone Cypress Energy Services, LLC, (Lone Cypress) blue hydrogen project.
  • “The Carbon TerraVault team continued to make substantial progress through the first half of the year, with four administratively complete EPA Class VI permit applications and 191 million metric tons (MMT) of CO2 storage capacity submitted to EPA for Class VI permits to date.
  • The project is expected to produce more than 7.5 million gallons per year of renewable gasoline for use as transportation fuel.
  • The CDMA provides a path for the parties to reach final definitive documents and FID

California Resources Corporation Appoints Nicole Parra as Vice President of Community Affairs

Retrieved on: 
Thursday, July 6, 2023
Environment, Utilities, Oil, Gas, Sustainability, Green Technology, Energy, Texas Department of Housing and Community Affairs, University, CRC, Life, Berkeley, California Business, Transportation and Housing Agency, Catholic University School, Business, Transport, Carbon, Chief Clerk of the California State Assembly, Economics, Petroleum & Resources Corporation, University of California, Berkeley, Natural gas, Kern Community College District, California Resources Corporation, NYSE, Community college district, Management, D.C

California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Nicole Parra has been appointed as Vice President of Community Affairs, effective July 6, 2023.

Key Points: 
  • California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Nicole Parra has been appointed as Vice President of Community Affairs, effective July 6, 2023.
  • Ms. Parra has spent most of her life in public service with 30 years of extensive legislative and political experience.
  • Most recently, she served as Director of the California Renewable Energy Laboratory at the Kern Community College District (KernCCD).
  • Ms. Parra has received several recognitions by community and academic institutions including the Mark Bingham Award for Excellence in Achievement by U.C.

California Resources Corporation Schedules Second Quarter 2023 Earnings Conference Call

Retrieved on: 
Friday, June 30, 2023
Energy, Other Energy, Utilities, Oil, Gas, Webcast, Petroleum & Resources Corporation, PIN, International, CRC, California Resources Corporation, NYSE

California Resources Corporation (NYSE: CRC) plans to release its second-quarter 2023 financial results on July 31st after market close.

Key Points: 
  • California Resources Corporation (NYSE: CRC) plans to release its second-quarter 2023 financial results on July 31st after market close.
  • The Company will hold a conference call on Tuesday, August 1st at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time).
  • We encourage participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10179237/f985ba358a .
  • To participate in CRC’s conference call, either dial (877) 328-5505 (International callers please dial +1-412-317-5421) or access the webcast at www.crc.com .

Carbon TerraVault Announces Two New Storage-Only Carbon Dioxide Management Agreements and Submission of Another Class VI Permit to the EPA

Retrieved on: 
Tuesday, May 2, 2023
Environment, Other Transport, Climate Change, Other Energy, Transport, Utilities, Oil, Gas, Alternative Energy, Green Technology, Energy, Carbon, Hydrogen, Heart, Carbon dioxide, CRC, Farmer, CDMA, MMT, CTV, CDMA spectral efficiency, Burn, SPB, Economics, Petroleum & Resources Corporation, NYSE, EPA, MTPA, Carbon monoxide, FID, Decay, Soot, Superior, CRC Energy Efficiency Scheme, TSX, CCS, Climate, Methane, Biomass, Greenhouse, California Resources Corporation, CO2, Air pollution, VI, Gasoline, Renewable energy, Natural gas, Coal, Mobile phone, Commercial property, Yosemite National Park

“2023 began on a good note for Carbon TerraVault as we continued to expand our carbon management storage capacity by submitting another Class VI permit to the EPA and entering into two additional Carbon Dioxide Management Agreements with reputable partners who are committed to energy transition in California,” said Mac McFarland, Chairman of the CTV Board.

Key Points: 
  • “2023 began on a good note for Carbon TerraVault as we continued to expand our carbon management storage capacity by submitting another Class VI permit to the EPA and entering into two additional Carbon Dioxide Management Agreements with reputable partners who are committed to energy transition in California,” said Mac McFarland, Chairman of the CTV Board.
  • Called the Yosemite Hydrogen Facility, the plant is expected to produce 24,000 kilogram (KG) per day of hydrogen.
  • Over the next 10 years, Yosemite plans to construct two additional hydrogen facilities in California with similar technical and production characteristics.
  • Syngas is a combination of hydrogen, methane, CO2, carbon monoxide, and other trace gases that is used to produce other fuels.

California Resources Corporation Appoints Nelly Molina as Executive Vice President and Chief Financial Officer

Retrieved on: 
Monday, May 1, 2023
Environment, Oil, Gas, Alternative Energy, Green Technology, Environmental Health, Energy, State Audit Service of Ukraine, CRC, Mexican Stock Exchange, Kinder Morgan, Instituto Tecnológico Autónomo de México, Carbon, EGADE Business School, Petroleum & Resources Corporation, El Paso Corp., Natural gas, CFO, Sempra, Growth, Climate, Administrador de Infraestructuras Ferroviarias, California Resources Corporation, NYSE, Management

California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Manuela (Nelly) Molina has been appointed as Executive Vice President and Chief Financial Officer, effective May 8, 2023.

Key Points: 
  • California Resources Corporation (NYSE: CRC), an independent energy and carbon management company committed to energy transition, today announced that Manuela (Nelly) Molina has been appointed as Executive Vice President and Chief Financial Officer, effective May 8, 2023.
  • She joins CRC from Sempra Energy, where she held various senior finance leadership roles, including most recently as Vice President of Audit Services and Vice President of Investor Relations.
  • Earlier in her tenure at Sempra Energy, she served as Chief Financial Officer of Infraestructura Energética Nova, S.A.P.I.
  • “I am thrilled to welcome Nelly to the CRC team,” said Francisco Leon, President and Chief Executive Officer of CRC.