Legislative HurdlesThe company is experiencing ongoing permitting challenges and legislative hurdles in California, which are affecting its ability to maintain and increase production levels.
Market ConditionsAn oversupplied oil market is anticipated, which could negatively impact CRC's performance due to its sensitivity to oil prices.
Regulatory ChallengesCRC faces challenges due to regulatory uncertainty, affecting its oil and gas permit approvals and delaying its carbon capture project's volume ramp-up.