California Resources Corporation (CRC) is an oil and natural gas exploration and production company headquartered in Los Angeles, California, United States. Founded in 2014, CRC is the largest independent oil and natural gas producer in California. CRC's main products include crude oil, natural gas, and natural gas liquids.

The company operates in California's major oil and gas basins, including the San Joaquin Basin, Los Angeles Basin, and Ventura Basin. CRC is focused on efficient and environmentally responsible oil and gas production. Internationally, CRC primarily operates in California and does not have a significant global presence.

However, the company has formed partnerships and joint ventures with other major players in the industry. For example, CRC has a partnership with Macquarie Infrastructure and Real Assets, which provides capital and expertise to fund CRC's projects. The company also has a joint venture with Colony Capital, which focuses on acquiring and developing oil and gas assets in California.

In terms of market position, CRC is a leading player in the California oil and gas industry. Being the largest independent producer in the state, CRC has a competitive advantage in terms of scale and expertise. However, the company faces competition from major integrated oil companies and other independent producers operating in California.

In recent years, CRC has undergone several major changes and strategic initiatives. In 2019, the company completed a financial restructuring to strengthen its balance sheet and improve liquidity. This allowed CRC to reduce its debt and position itself for future growth.

As of the latest information available, CRC is continuing its focus on efficient operations and responsible production. The company is committed to reducing its environmental footprint and implementing sustainable practices. CRC is also exploring new technologies and partnerships to enhance its production capabilities.

In conclusion, California Resources Corporation is a leading independent oil and gas producer in California. With its headquarters in Los Angeles, the company operates in major basins across the state. CRC's market position is strong, although it faces competition from other players in the industry.

The company has undergone significant changes and strategic initiatives to improve its financial position and sustainability