加州资源 2024年度报告

Form10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedDecember31, 2024☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number001-36478 California Resources Corporation (Exact name of registrant as specified in its charter) 46-5670947(I.R.S. EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization) 1 World Trade Center, Suite 1500Long Beach,California90831(Address of principal executive offices) (Zip Code) (888)848-4754(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on Which RegisteredNew York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☑No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Date File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period as the registrant was required tosubmit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company.See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and"emerging growth company" in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☑Accelerated Filer☐Non-Accelerated Filer☐Smaller Reporting Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☑ State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at whichthe common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s mostrecently completed second fiscal quarter. Common Stock aggregate market value held by non-affiliates as of June30, 2024:$3,592,717,138. Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of theSecurities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.Yes☑No☐ At January 31, 2025, there were90,778,229shares of Common Stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement to be filed within 120 days after December31, 2024 with the Securities and Exchange Commissionin connection with the registrant's 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K. TABLE OF CONTENTS GLOSSARY AND SELECTED ABBREVIATIONS The following are abbreviations and definitions of certain terms used within this Form 10-K: •AB- Assembly Bill•ABR- Alternate base rate.•Aera- Aera Energy LLC.•Aera Merger- The transactions contemplated by the Merger Agreement.•ASC- Accounting Standards Codification.•ARO- Asset retirement obligation.•Bbl- Barrel.•Bbl/d- Barrels per day.•Bcf- Billion cubic feet.•Bcfe- Billion cubic feet of natural gas equivalent using the ratio of one barrel of oil, condensate, or NGLsconverted to six thousand cubic feet of natural gas.•Boe- We convert natural gas