CLR - California Resources Finds A New Catalyst For Growth
California Resources Corporation's (CRC) production volumes are exceeding expectations due to a number of factors, particularly its new Elk Hills acquisition, which should act as a significant catalyst for future growth going forward for the company.
CapEx is also increasing as a result of the acquisition since the synergies in the region are so attractive. California Resources has always enjoyed the advantages of operating in a non-crowded region with attractive oil pricing, and now the company has reloaded with more acreage. As a result, despite the hefty move up, the stock should continue