California Resources Corporation, an independent energy and carbon management firm focused on the energy transition, has received a Buy rating from UBS.

The company is known for producing the lowest carbon oil in the United States and is actively working on multiple carbon capture and storage projects in California. Its carbon management division, Carbon TerraVault, is responsible for building, operating, and maintaining facilities for capturing, transporting, and storing carbon dioxide.

California Resources Corporation operates in various oil and gas reservoirs, including the San Joaquin Basin, Los Angeles Basin, and Sacramento Basin. It has significant interests in the Elk Hills field, the largest producing area in the San Joaquin Basin, as well as major stakes in other fields such as Buena Vista and Coles Levee. The company also operates in the Los Angeles Basin, which spans approximately 50 miles in length and 20 miles in width.