Your statements are incorrect and highly misleading.
CRC filed for bankruptcy in July 2020 - not because of dry wells but because of a collapse in commodity prices. We all know that COVID has caused a significant drop in demand for oil due to a 90% reduction in flights worldwide. Surely you must have been keeping an eye on oil prices during this time.
Since filing for bankruptcy, CRC has completed a financial restructuring and bounced back strong. Net production of 106,000 BOE per day during Q3 2020. NATURAL GAS VOLUMES AVERAGED 168 Mmcf PER DAY - plenty of gas here to contradict your unsubstantiated claims. CRC share price bounced back from a low of $1.18 on 15 July 2020 to $24 on 5 Feb 2021.
To add to this, commodity prices are making a significant recovery as more and more flights resume, with gas demand also climbing. Normalcy is anticipated for the end of 2021.
Stop your biased, unsubstantiated derogatory statements that have no factual backing whatsoever.
https://www.businesswire.com/news/home/20201105006181/en/California-Resources-Corporation-Announces-Third-Quarter-2020-Results
Your statements are incorrect and highly misleading. CRC filed...
Add XST (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.893M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
| XST (ASX) Chart |
Day chart unavailable