California Resources Fleshes Out Long-Term Growth Plans at Analyst Day
The long-term production, earnings, and capital projections presented during California Resources' analyst day were consistent with previous guidance. The firm still expects an 8% production compound annual growth rate through 2020, supported by annual investment of $500 million-$1 billion per year. In management's base case, net debt/earnings before interest, taxes, depreciation, amortization, and exploration will dip below 4 times at the end of this period, well below the current and extremely...California Resources is an independent oil and natural gas exploration and production company operating properties within California.
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