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California Resources Corporation (CRC) is an oil and natural gas exploration and production company operating high-growth, high-return conventional and unconventional assets exclusively in California. CRC explores for, produces, gathers, processes and markets crude oil, natural gas and natural gas liquids. CRC makes significant use of proven modern technologies to enhance safety and efficient production across our leading mineral acreage position and diverse portfolio. CRC provides “Energy for California by Californians.” California homes, farms, businesses and communities need ample, affordable and reliable energy, and CRC`s dedicated workforce of approximately 4,000 California employees and contractors develops dependable local oil and natural gas reserves that help to reduce our state`s chronic dependence on imported energy. For the past three years, our employees have received Excellence Achievement Awards from the National Safety Council for their exemplary safety performance across our statewide operations. Investing in California CRC is also an economic engine for California. Since 2014, our operations have spent approximately $7.6 billion with more than 2,000 vendors and provided approximately $1.4 billion in revenues and taxes to the State and our host counties and cities where we live and work. CRC is the largest oil and natural gas producer in California on a gross-operated basis and we believe we have established the largest privately-held mineral acreage position in the state, consisting of approximately 2.3 million net acres spanning the state`s four major oil and gas basins. We have a sizable inventory of approximately 33,870 gross drilling locations and 6,400 gross prospective resource drilling locations throughout the state and a significant portfolio of conventional and unconventional opportunities from which we plan to generate production growth over the longer term.
FracGeo provides decision makers, asset managers, engineers and geoscientists with Shale Management™ solutions for sweetspot and landing zone selection, adaptive asymmetric frac design, and completion and well spacing optimization in unconventional and tight reservoirs to improve asset ROR and well performance. The 3D seismically driven geological and geomechanical fracture modeling software and services focus on the estimation, throughout the reservoir volume, of stress gradients and subsurface properties affecting hydraulic fracturing and SRV development. These include rock geomechanical properties, pore pressure and natural fractures, and additionally their complex interaction with regional stress before and during hydraulic fracture stimulation. FracGeo`s fracture geomechanical simulator uses new and fast computational tools integrating geoscience and engineering in a way that has not been done before, allowing the completion engineer to quantitatively adapt the hydraulic fracture treatment based on these varying reservoir properties to achieve the optimal stimulation which accounts for variable stress gradients in the subsurface.
Cactus designs, manufactures, sells and rents a range of highly-engineered wellheads and pressure control equipment. Our products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion (including fracturing) and production phases of our customers` wells.