Sacramento - California Resources Corporation

CRC snapshot
500,000 |
California Resources
Corporation (CRC) holds
approximately 500,000 net
acres in the Sacramento Basin,
approximately 35 percent of which
we hold in fee.
9,000 | In 2014, CRC produced
9,000 barrels of oil equivalent per
day in the Sacramento Basin.
53 FIELDS | CRC actively
55 | CRC has approximately 55
operates 53 fields with development
opportunities in the Sacramento
Basin, primarily consisting of dry
gas production.
employees in the Sacramento Basin.
12,000 | The Sacramento Basin
is a deep, elongated northwesttrending basin covering about
12,000 square miles. Exploration in
the basin started in 1918.
CRC donated to the Yuba-Sutter
County United Way and Children’s
Type 1 Diabetes Resources Center to
support their crucial social services
to those in need.
industry snapshot
$40 BILlion
California is the nation’s largest state
economy and the world’s seventh
largest, with significant energy
demands that exceed local supply.
California is one of the most prolific
oil and natural gas producing regions
in the world and is the third-largest
oil producing state in the nation.
The United States relies on fossil
fuels for 82 percent of the nation’s
total energy needs. According to
the U.S. Government’s 2014 Annual
Energy Outlook, fossil fuels will
continue to provide 80 percent of our
total energy needs in 2040, the last
year forecasted.
California imports approximately
60 percent of its oil, 90 percent of
its natural gas and 25 percent of its
electricity. A vast majority of the oil
is imported from outside the state,
mostly from foreign locations.
* Based on data from a 2014 study by the Los Angeles County Economic Development Corporation
Californians consume all of the oil
and gas produced in the state, and
still have to import approximately
twice as much from other states and
foreign countries like Saudi Arabia
and Iraq to satisfy demand.
The petroleum industry in California
is responsible for 5.4 percent of
the state’s gross domestic product
and produces $40 billion in wages,
benefits and payroll taxes per year.*
California has the most
comprehensive regulatory system
for oil and natural gas production of
any producing state. More than 14
state and federal agencies oversee
all aspects of the exploration
and development of properties,
production, transportation and the
sale of oil and natural gas.
Advances in technology can
help meet society’s increasing
energy demands and protect the
environment. The energy industry is
making great strides in how energy
sources are extracted, created and
used — always with the aim of using
less to do more.
Since 1990, the U.S. oil and natural
gas industry has invested $148
billion in new technologies and
projects to enhance its environmental
performance — $504 for every man,
woman and child in the United States.
Oil is not just a source of energy —
it is also an important raw material.
Hydrocarbons from oil are key
ingredients in many materials
including detergents, candles, ink,
cosmetics, glue, eyeglass lenses,
fabrics made from synthetic fibers
and rubbers, plastics, acrylic paint,
fertilizer, foam cushions and drugs
such as aspirin.
In Sacramento County, the oil and
natural gas industry employs more
than 6,500 people and generates
$585 million in labor income.*
In Sacramento County, the oil and
natural gas industry generates $494
million in state and local taxes and
$642 million in economic activity.*