Company report
| |
12 Pages

California Resources corporate report

California Resources corporate report

Report summary

California Resources Corporation (CRC) is the most financially stretched operator in our Focused US peer group. Almost from inception, the company has been in survival mode courtesy of the US$6.4 billion debt taken on as part of its late 2014 spin-off from Occidental. The oil price was already declining as the IPO was launched. With no hedging in place to protect against further declines, CRC was left with no option but to abandon growth ambitions and cut capital aggressively. Asset sales have been attempted to de-lever its unsustainable balance sheet, but a moribund M&A market has stymied any deals, contributing to investors concerns over the company's long-term viability.

What's included?

This report includes 2 file(s)

  • California Resources corporate report PDF - 441.48 KB 12 Pages, 7 Tables, 10 Figures
  • California Resources Corporate Report.xls XLS - 2.89 MB


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
    • SWOT Analysis
    • Summary
      • Key success factors:
  • Valuation
  • Financial health
    • Financial health overview
      • Net debt outlook / Liquidity position
      • Options to free up capital / risks to this outlook
  • Resources, reserves and production
    • Resources and reserves overview
    • Production overview
  • Portfolio summary
  • Economic assumptions
    • Wood Mackenzie Corporate Service: our response to low oil prices

In this report there are 17 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Valuation
    • Benchmark: share price performance
    • Market premium / discount to WM base case NPV,10
  • Financial health
    • Cash flow breakevens evolution
    • Net debt outlook
  • Resources, reserves and production
    • Reserve and resources detail
    • Benchmark: reserves and resource life
    • Reported and forecasted production
    • Benchmark: production CAGR
  • Portfolio summary
    • Portfolio summary: Table 1
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Valuation assumptions
    • Foreign exchange rate assumptions
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.