California Resources Corporation Receives Prestigious Certification
California Resources Corporation (NYSE: CRC) has marked a significant milestone, achieving a ‘Grade A’ certification from MiQ for its production segment in Ventura County. This certification underscores CRC's dedication to sustainable energy practices and distinguishes it as a leader in the oil and gas industry in California.
Commitment to Lower Emissions
With a previous ‘Grade A’ certification awarded in 2024 for its operations in the Los Angeles Basin, CRC remains the only oil and gas producer in both California and the Rocky Mountain Region to achieve MiQ certification. This recognition reflects the company's ongoing commitment to lowering emissions and adhering to the highest environmental standards.
CEO's Statement on Achievements
Francisco Leon, President and Chief Executive Officer of CRC, expressed pride in the company’s achievements. He stated, “Receiving ‘Grade A’ certifications from MiQ offers independent verification of our commitment to lower emissions. Our operations continually meet high methane emissions performance standards, aligning with California's ambitious climate goals while ensuring energy needs are met sustainably.”
Future Plans with MiQ Certification
Looking forward, CRC intends to collaborate further with MiQ to ensure the certification of its production efforts across the state. This initiative reinforces the company's dedication to sustainable practices in energy production.
About MiQ and Its Role
MiQ plays a vital role as a global leader in methane emissions certification, designed to speed up reductions from the oil and gas sector. Achieving the ‘Grade A’ certification required CRC to excel in crucial areas: company practices, implementation of monitoring technologies, and overall methane intensity.
Industry Recognition
Georges Tijbosch, CEO of MiQ, commented on CRC's achievement, saying, “The certification of a second CRC asset highlights the company’s dedication to reducing methane emissions. MiQ provides reliable, independent data on emissions, ensuring accountability and encouraging improvements while facilitating the transition to a cleaner energy landscape.”
About California Resources Corporation
California Resources Corporation is an independent energy and carbon management entity committed to supporting energy transition. With a focus on environmental stewardship, CRC aims to responsibly supply energy while maximizing the value of its land and mineral ownership. The company is advancing efforts in carbon capture and storage (CCS) and various emissions-reduction projects.
Continuous Improvement in Sustainability
As part of its sustainability strategy, CRC consistently seeks to implement innovative solutions that align with enhancing environmental standards. Their commitment not only addresses current energy demands but also anticipates future challenges and changes in the energy landscape.
Frequently Asked Questions
What is the significance of the ‘Grade A’ certification?
The ‘Grade A’ certification from MiQ indicates that CRC adheres to stringent standards for methane emissions, showcasing its commitment to environmentally responsible practices.
How does CRC plan to use its certification?
CRC plans to leverage its MiQ certification to enhance sustainability efforts in energy production and to continue reducing methane emissions across its operations.
What role does MiQ play in emissions management?
MiQ certifies methane emissions performance, validating the efforts of companies like CRC to manage and reduce emissions in the oil and gas sector.
What are the future goals for California Resources Corporation?
CRC aims to expand its certification efforts with MiQ across California while continuing to innovate in carbon management and emissions-reducing technologies.
Who should be contacted for more information about CRC?
For further inquiries about CRC's sustainability initiatives, you can contact Hailey Bonus at 714-874-7732 or via email at Hailey.Bonus@crc.com.
