# California Resources Plans $450 Million to $475 Million in 2027 Spending

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/48480
Published: 2026-11-04T12:46:43.000Z
Updated: 2026-11-04T12:46:43.000Z
Section: Business

> The six-rig maintenance program targets flat gross production, while CRC aims to restart its San Pablo Bay pipeline in the first quarter of 2027.

California Resources Corporation plans to spend $450 million to $475 million on California drilling, completions and workovers in 2027, using a six-rig maintenance program to target flat gross production.

CRC expects production to be weighted toward the second half of the year. Its target is for gross production to remain flat from the beginning to the end of 2027.

The company also targets restarting its San Pablo Bay pipeline in the first quarter of 2027. CRC expects the restart to require no additional permits or capital.

CRC expects realizations to move toward normalized levels in the mid-90s. It estimates each percentage-point improvement could add about $40 million in annual earnings before interest, taxes, depreciation and amortization.

Separately, CRC and Bloom Energy have outlined a multi-project power development opportunity exceeding one gigawatt. Utilities and hyperscalers have expressed interest, while outside developers are expected to own and run the projects.