Thread regarding California Resources Corporation layoffs

Q2 2022 slides vs previous earnings slides

Excluding the supplemental materials, there are a total of 30 slides in the Q2 2022 CRC Earnings slide.

Slides 1-4 are legal cautionary disclaimers and defining terms like what BOPD is. Whatever.

Slides 5-11 and Q2 financial results. very high level, company level finance information. ok. that's needed. let's get into the meat of the business.

Slides 12-25 are about the carbon management partnership. So this is a plan that is in infancy, and, right now, generates no revenue, and there is no clear sight of this revenue. but it's an important, future growth target. so we talk about it. ok.

slides 26-30 are about 'revised capital allocation'... basically finance slides about how CRC is undervalued and we do a great job of allocating capital and market undervalues us. ok. I've seen this slide every quarter since CRC spin off and the market doesn't care. ok.

Where are the slides about our core business? We used to show production by basin. where is that? we used to show the economics by new wells, and initial production rates by new wells. where is that? where are the slides about our growth assets? where are we going to grow? why are nearly half of our slides related to a JV that doesn't even have permit's approved?

when i look at these slides i wonder if i am working for an oil production/exploration company with de-risked assets, or am i working for a startup that will live by carbon sequestration and die by the first litigation that shows the carbon sequestered is leaking. I wish management would be more transparent.

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