California Resources to Divest Uinta Basin Assets for $90 Million
California Resources Corp. (CRC) announced plans to sell its non-core Uinta Basin assets for approximately $90 million. The divestiture is intended to free up cash that supports the company's California-focused strategy and capital allocation.
Why it matters — A CRC watcher would care because the sale sharpens the company's focus on California and provides additional cash to fund its core strategy and capital priorities.