{
  "id": 8724370,
  "title": "California Resources (CRC) Sells Uinta Assets for $90 Million",
  "url": "https://urgent.news/2026/09/20/california-resources-crc-sells-uinta-assets-for-90-million",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-20T16:21:06.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/energy/articles/california-resources-crc-sells-uinta-162106302.html"
  },
  "original_language": "en",
  "account": "California Resources Corporation (CRC) recently agreed to sell its Uinta Basin assets, located primarily in Utah and Colorado, for $90 million in cash. The sale comes as CRC seeks to refocus its business on California and capitalize on the Berry merger. President and CEO Francisco Leon stated that the transaction enhances the company's capital allocation flexibility and supports its strategy for returning value to shareholders. The sale is expected to close by year-end, subject to certain conditions. CRC's Q2 earnings highlighted that Uinta assets have higher capital intensity, break-even points, crude quality, transportation costs, and declining production rates, making the sale a strategic move to streamline operations. The company's recent acquisition of Crimson Midstream Holdings is also expected to close shortly, with proceeds from Uinta sales helping to offset the $63 million purchase price. While the $90 million sale may not significantly impact CRC's balance sheet or earnings, it provides valuable capital for investments in California infrastructure and production.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}