California Resources Corporation (NYSE:CRC) Q1 2023 Earnings Conference Call May 2, 2023 1:00 PM ET
Company Participants
Francisco Leon - President, Chief Executive Officer
Jay Bys - Executive Vice President, Chief Commercial Officer
Joanna Park - Vice President of Investor Relations, Treasurer
Conference Call Participants
Scott Hanold - RBC Capital Markets
Kalei Akamine - Bank of America
Leo Mariani - ROTH MKM
Nate Pendleton - Stifel
Noel Park - Tuohy Brothers Investment Research
Eric Seeve - GoldenTree
Operator
Hello! And welcome to the California Resources Corporation First Quarter Earnings Call. All participants will be in listen-only mode. [Operator Instructions]. Please note, today’s event is being recorded.
I’d now like to turn the conference over to your host today Joanna Park, Vice President of Investor Relations and Treasurer. Please go ahead ma’am.
Joanna Park
Welcome to California Resources Corporation's first quarter 2023 conference call. Participating on today's call are Francisco Leon, President and Chief Executive Officer as well as the entire Executive team. I'd like to highlight that we have provided slides on our Investor Relations section of our website, www.crc.com. These slides provide additional information into our operations and our first quarter results.
We’ve also provided information reconciling non-GAAP financial measures discussed to the most directly comparable GAAP financial measures on our website as well as in our earnings release.
Today, we are making some forward-looking statements based on current expectations. Actual results could differ due to factors described in our earnings release and in our periodic SEC filings. As a reminder, we have allotted additional time for Q&A at the end of our prepared remarks. We ask our participants to limit their questions to a primary and one follow-up.
With that, I’ll now turn the call over to Francisco.
Francisco Leon
Thank you, Joanna. Good morning everyone and thank you for joining us. I’m very pleased to be here talking to you today as CEO of CRC, as we continue to build a different kind of energy company, focused on generating the highest cash flow from our low carbon intensity assets and advancing our carbon management business.
My remarks today will focus on three key areas: First, our record financial performance in the quarter, which was driven by a strong operational execution and leading natural gas position. Second, the progress we made advancing our plans to reposition the business to unlock shareholder value. And finally, the growing strength of our carbon management business as we continue to take steps to enable California's clean energy goals.