California Resources Corp
For the period ended Mar 31, 2026. Filed May 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 6, 2026
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Item 1A. Risk Factors
We are subject to various risks and uncertainties in the course of our business. A discussion of such risks and uncertainties may be found under the heading Risk Factors in our 2025 Annual Report. There were no material changes to those risk factors during the three months ended March 31, 2026.
Share Repurchases
Our Board of Directors has authorized a Share Repurchase Program to acquire up to $1.78 billion of our common stock through December 31, 2027. The repurchases may be effected from time-to-time through open market purchases, privately negotiated transactions, Rule 10b5-1 plans, accelerated stock repurchases, derivative contracts or otherwise in compliance with Rule 10b-18, subject to market and contractual limitations in our debt agreements. The Share Repurchase Program does not obligate us to repurchase any dollar amount or number of shares and our Board of Directors may modify, suspend or discontinue authorization of the program at any time. Shares repurchased are either retired or held as treasury stock.
Our share repurchase activity for the three months ended March 31, 2026 was as follows:
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs(a) |
|---|---|---|---|---|
| January 1, 2026 - January 31, 2026 | 218,719 | $45.70 | 218,719 | $— |
| February 1, 2026 - February 28, 2026 | — | $— | — | — |
| March 1, 2026 - March 31, 2026 | — | $— | — | — |
| Total | 218,719 | $45.70 | 218,719 | $— |
(a)The total value of shares that may yet be purchased under the Share Repurchase Program totaled $600 million as of March 31, 2026.
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