California Resources Produces Oil and Natural Gas in California
California Resources delivered production of 133 thousand barrels of oil equivalent per day in the first quarter, which was 8% higher higher year over year but 2% lower sequentially. This compares with our forecast of 136 mboe/d and is within the previously guided range of 132-137 mboe/d, albeit at the lower end. The decline reflects a cautious start to the year, with internally funded capital deployment falling 40% sequentially to $104 million. The firm set out to keep its production flat this ...California Resources is an independent oil and natural gas exploration and production company operating properties within California.
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