Business Context and Reporting Period
Company: California Resources Corporation (CRC)
Filing Type: Form 8-K (Current Report)
Date of Report: April 14, 2026
Event Date: April 14, 2026
Context: The Company entered into a material definitive agreement regarding its credit facilities.
Key Financial Metrics
This filing does not contain specific financial statements, revenue, profit, cash flow, margin, debt balance, or liquidity metrics. The report focuses exclusively on the terms of a credit agreement amendment.
Material Changes
- Agreement: Execution of the "Ninth Amendment" to the Amended and Restated Credit Agreement dated April 26, 2023.
- Counterparty: Citibank, N.A. (as administrative and collateral agent) and other lending institutions.
- Primary Change: Amendment of the pricing grid to reduce the Company's borrowing costs under the facility.
- Secondary Changes: Inclusion of other technical amendments.
Guidance, Outlook, and Risks
Management Commentary: The filing states the purpose of the amendment was to reduce borrowing costs. No forward-looking guidance, outlook, or specific risk factors were disclosed in this text.
Unusual Items: None reported in this filing.
Contingencies: The full text of the Ninth Amendment is filed as Exhibit 10.1, with certain portions omitted pursuant to Regulation S-K Item 601(b)(10).
Investor Verification Checklist
- Review Exhibit 10.1 (Ninth Amendment) to determine the specific new pricing grid rates and the magnitude of the borrowing cost reduction.
- Verify the current outstanding balance under the Credit Agreement to assess the total dollar impact of the reduced rates.
- Check for any new financial covenants or restrictions introduced in the "technical amendments" referenced in the filing.
- Confirm the maturity date of the facility to ensure no extension or shortening occurred alongside the pricing change.