TacticScaleWhat California Resources Does & How It Makes Money (CRC)
Updated October 2026 · reflects California Resources's latest reported financials
California oil and gas producer with a carbon capture and storage business. Most of its revenue comes from selling the crude oil, natural gas and NGLs it produces to California refineries, marketers and other purchasers.
How California Resources makes money
Most of its revenue comes from selling the crude oil, natural gas and NGLs it produces to California refineries, marketers and other purchasers. It also earns money from power generation and is building a carbon management business around CO2 capture, transport and storage services.
What California Resources does
California Resources Corporation is an independent energy and carbon management company based in Long Beach, California, incorporated in 2014. It reports two segments: Oil and Natural Gas, and Carbon Management. The core business explores for, develops and produces crude oil, oil condensate, NGLs and natural gas, which it sells to California refineries, marketers and other purchasers. Its Carbon Management segment operates as Carbon TerraVault, which builds, installs, operates and maintains CO2 capture equipment, transportation assets and storage facilities. The company also owns and operates power generation facilities, including smaller gas-fired plants that supply power to its oil and gas operations.
Products & services
- Crude oil and oil condensate
- Natural gas
- Natural gas liquids (NGLs)
- Carbon TerraVault CO2 capture and storage
- Power generation facilities
What is California Resources worth?
On an owner-earnings DCF, California Resources's most-likely value is about $55 versus a recent price near $53 (4% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$41) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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