The reaffirmation of the borrowing base at $1.5 billion is in line with the previous amount, indicating stability in the company's credit facility. The reduction in borrowing costs through the revised pricing grid is a positive development that could improve the company's financial flexibility. Traders should monitor future filings for any changes in the borrowing base or additional amendments to the credit agreement that could impact the company's financial position.
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Executive Summary
California Resources Corp (CRC) amended its credit agreement to reaffirm its $1.5 billion borrowing base and reduce borrowing costs through a revised pricing grid. The amendment, effective April 14, 2026, was part of a routine semi-annual redetermination and does not involve any changes to the borrowing base amount or new financial commitments.
Key Financial Metrics
Key Facts
- The Ninth Amendment to the Amended and Restated Credit Agreement was entered into on April 14, 2026.
- The borrowing base was reaffirmed at $1,500,000,000, which is consistent with the amount set in the Seventh Amendment Effective Date.
- The amendment included a revision to the pricing grid to reduce the company's borrowing costs under the facility.
- The reaffirmation of the borrowing base constitutes the semi-annual scheduled redetermination for April 2026.
- The amendment also included other technical amendments to the credit agreement.
Financial Impact
The borrowing base remains unchanged at $1.5 billion. The revised pricing grid will reduce borrowing costs, but the specific financial impact is not quantified in the filing.
Risk Factors
- The amendment does not increase the borrowing base, which could limit the company's ability to fund future growth or acquisitions.
- The company's ability to maintain the borrowing base is dependent on the performance of its oil and gas reserves and commodity prices.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001609253-26-000086 |
| Document: crc-20260414.htm | 0001609253-26-000086 |
| Document: 0001609253-26-000086-index-headers.html | 0001609253-26-000086 |
| Document: 0001609253-26-000086-index.html | 0001609253-26-000086 |
| Document: 0001609253-26-000086.txt | 0001609253-26-000086 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $53.75 $55.57 | ▲ +3.39% | ▲ +4.30% | $51.66 (−3.89%) |
Aug 10, 2026 7w ago | Press Release | $53.75 $55.57 | ▲ +3.39% | ▲ +4.30% | $51.66 (−3.89%) |
Jul 14, 2026 11w ago | 8-K | $52.32 $54.13 | ▲ +3.46% | ▲ +0.97% | $51.66 (−1.26%) |
Jun 26, 2026 14w ago | 8-K | $52.60 $53.47 | ▲ +1.65% | ▲ +1.93% | $51.66 (−1.79%) |
Jun 16, 2026 15w ago | 8-K | $55.35 $52.09 | ▼ −5.89% | ▼ −7.21% | $51.66 (−6.67%) |
Jun 16, 2026 15w ago | 8-K | $56.25 $52.32 | ▼ −6.99% | ▼ −7.19% | $51.66 (−8.16%) |
May 5, 2026 21w ago | 8-K | $61.46 $62.20 | ▲ +1.20% | ▼ −1.58% | $51.66 (−15.95%) |
May 5, 2026 21w ago | Press Release | $61.46 $62.20 | ▲ +1.20% | ▼ −1.58% | $51.66 (−15.95%) |
Apr 17, 2026 24w ago | 8-K | $62.18 $62.50 | ▲ +0.51% | ▼ −3.69% | $51.66 (−16.92%) |
Mar 18, 2026 28w ago | DEFA14A | $62.91 $62.74 | ▼ −0.27% | ▼ −7.89% | $51.66 (−17.88%) |
US Market Status
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