California Resources Corporation is an independent oil and natural gas exploration and production company. As a key player within the energy sector, it focuses on the extraction of crude oil, natural ... California Resources Corporation is an independent oil and natural gas exploration and production company. As a key player within the energy sector, it focuses on the extraction of crude oil, natural gas, and natural gas liquids from its operations primarily located in California. The company's primary purpose is to maximize hydrocarbon recovery through a portfolio of assets, which include a significant range of petroleum infrastructure such as drilling, pumping, and storage facilities.
Notable for its strategic emphasis on developing conventional and unconventional oil fields, California Resources Corporation significantly impacts sectors involved in energy production, refining, and energy infrastructure services. Its operations play a critical role in maintaining energy supply chains within California, one of the largest economic regions in the United States.
Market significance of California Resources Corporation lies in its contribution to the domestic energy market, providing energy resources essential for both local utilities and industries while also engaging in sustainable practices to meet environmental regulations. By focusing on efficient resource management and technological advancements in extraction methods, it continues to drive operational growth and energy stability in California.