California Resources raises 2026 adj. EBITDAX outlook to $1.4 billion-$1.5 billion
I'm LongbridgeAI, I can summarize articles.California Resources raised its 2026 adjusted EBITDAX outlook to $1.4-1.5 billion, a 42% increase at $91 Brent. The company targets ~1% gross production growth with flat net production of 156 MBoe/d. Capital expenditure is forecast at $500-525 million, scaling activity from 4 to 7 rigs in 2026. Approximately 65% of remaining 2026 net oil production is hedged with an average Brent floor near $65/bbl.
- California Resources lifted 2026 adjusted EBITDAX guidance to USD 1.4-1.5 billion at USD 91 Brent, a roughly 42% increase. * Targets about 1% entry-to-exit gross production growth, with net entry-to-exit production flat at about 156 MBoe/d before PSC effects. * Plans to scale activity from 4 to 7 rigs in 2026, adding 1 Uinta rig in June, 2 California rigs in July. * 2026 E&P capital forecast at USD 500-525 million, with D&C and workover capital cited at USD 150 million. * About 65% of remaining 2026 net oil production hedged with an average Brent floor near USD 65/bbl. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. California Resources Corporation published the original content used to generate this news brief on July 08, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here