Your Portal for Key Energy Information and Research

Ares/CRC Joint Venture

Company Summary

Description

The joint venture owns the Elk Hills power plant, a 550 MW natural gas fired power plant, and a 200 million cubic foot per day cryogenic gas processing plant located outside of Bakersfield, California. Under a new long-term commercial agreement, CRC will purchase power and gas processing from the joint venture. CRC has the option to redeem the common and preferred equity interests held by the Ares portfolio company at any point during the first seven and one-half years of the joint venture.

Operational Regions

  • West
  • Onshore California

Related Entities

Recent news

  • 10/28/2020 - California Resources... (subscriber access)
  • 2/8/2018 - California Resources... (subscriber access)