Current CRC Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Colony Capital agrees to invest up to $500 million in California Resources Corporation
California Resources Corporation (stock ticker: CRC) has formed a strategic joint venture with Colony HB2 Energy, the energy investment management arm of private equity firm Colony Capital (stock ticker: CLNY), in which Colony will fund the development of California Resources’ Elk Hills field, located in the San Joaquin Basin.

Initially, Colony has committed to provide $320 million in funding, however the total investment may be increased to $500 million at a later date. This preliminary investment, which will occur over the course of three years, will be spent on the development of 275 wells....

Legal Notice