California Resources sees FY25 net production 132-138 MBoe/d

Capital investments expected to range between $285 – $335 million, including drilling, completions and workover capital of $165 – $180 million and carbon management capital of $20 – $30 million; Net production expected to be 132 – 138 MBoe/d, with an expected range between 5% – 8% entry-to-exit gross production decline; On track to achieve the remaining $65 million in Aera-related synergies by year-end; Redeemed $123 million of 2026 Senior Notes at par in February 2025 with the remaining balance of $122 million slated for redemption later this year; Announced a new up to 1.0 MMTPA of CO2 emissions brownfield MOU4 with National Cement Company of California; Targeting first CO2 sequestration and cash flow from CCS project at Elk Hills Cryogenic Gas Plant.