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California Resources Net Oil Output Rises in Q2

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California Resources (CRC) reported Q2 2026 earnings on Monday, with total net production averaging 149,000 barrels of oil equivalent per day, up from 137,000 boe/d in Q2 2025.

Average oil production stood at 120,000 barrels per day in Q2 2026, up from 109,000 b/d in Q2 2025.

For the quarter ended June 30, the sale price of unhedged oil rose significantly to an average of $91.55 per barrel from $74.53/bbl in Q1.

Natural gas liquids production averaged 10,000 b/d, unchanged from the corresponding quarter last year.

Total natural gas production averaged 115,000 million cubic feet per day in Q2 2026, compared with 111,000 MMcf/d in the same period last year.

The company's net oil production inventories grew by about 137,000 b/d due to some difficulties with take-away, with most of this volume later sold in July.

For Q3 2026, the company's outlook pegs net daily oil production between 151,000 boe/d and 154,000 boe/d, while for the full year, guidance is between 150,000 boe/d and 155,000 boe/d.

Price: $52.37, Change: $+0.29, Percent Change: +0.56%

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