The saga surrounding California Resources Corporation (CRC) finally reached a conclusion last week with the company agreeing to a pre-arranged Chapter 11 package with its creditors. As we have previously reported, the company missed a few recent interest payments beginning the seemingly inevitable slide into bankruptcy. CRC negotiated a forbearance agreement (along with several extensions) while working the… Read More »
Another deadline and another forbearance extension for California Resources Corporation (CRC). For at least the third time over the past month the California based oil producer (and OXY spinoff) was able to buy some additional time from its lenders on its missed interest payments. The new deadline is now July 12th…a mere four days later. The forbearance periods… Read More »
It’s been a little over 10 months since the last Odds & Ends so the time is right to bring this fan favorite back. 1. Yet Another Value Blog recently posted a lengthy, in depth series analyzing the media industry. The most recent edition – another great read – is focused on sports rights and sports investing. The… Read More »
Last November, Occidental Petroleum (OXY) spun off its California oil & gas holdings into a standalone company, the California Resources Corporation (CRC). Lets just say the new entity faced a lot of headwinds, but one thing few predicted was the coming plunge in oil prices. As a result, CRC has had a rough go of it on its own… Read More »