California Resources Plans $450 Million to $475 Million in 2027 Spending

California Resources Corporation plans to spend $450 million to $475 million on California drilling, completions and workovers in 2027, using a six-rig maintenance program to target flat gross production. CRC expects production to be weighted toward the second half of the year. Its target is for gross production to remain flat from the beginning to the end of 2027. The company also targets restarting its San Pablo Bay pipeline in the first quarter of 2027. CRC expects the restart to require no additional permits or capital. CRC expects realizations to move toward normalized levels in the mid-90s.

Source: TokenPost