California Resources Corporation Achieves MiQ “Grade A” Certification for its Los Angeles Basin Assets

California Resources Corporation (NYSE: CRC) received a “Grade A” certification through MiQ’s Methane Emissions Performance Standard for its operating assets in Los Angeles and Orange Counties. This is the first “Grade A” independently certified gas (ICG) designation that MiQ has presented to oil and natural gas operating assets in California and the Rocky Mountain region. This achievement demonstrates CRC’s dedication to its ESG goals and sustainability platform.

“CRC is committed to meeting California’s energy needs today and well into the future with some of the lowest carbon intensity production in the country, and making progress on our methane emissions reduction goal,” said Francisco Leon, CRC President and Chief Executive Officer. “We are very pleased with our ‘Grade A’ ICG certification from MiQ which is further evidence of CRC’s strong environmental, social and governance efforts while supporting energy transition in California. We look forward to continuing to work with MiQ to expand our ICG certifications to our operations in the San Joaquin and Sacramento basins.”

MiQ is a global leader in the transparent certification of methane emissions data. To achieve MiQ’s “Grade A” certification, CRC earned high rankings in the three scoring categories: company practices, monitoring technology deployment, and methane intensity.

MiQ certification is conducted by accredited, third-party auditors, and assessed against the MiQ Standard to assign an A to F grade for methane emissions performance. The certification provides a verified approach to tracking CRC’s efforts to reduce methane emissions across its assets and supports the company’s 2045 Full-Scope Net Zero Goal.

“Reducing oil and gas methane emissions over the next six years is mission critical in the fight against climate change,” said Georges Tijbosch, MiQ Chief Executive Officer. “MiQ is now certifying over 5% of the global gas supply, providing the market with independent, third-party audited data on methane emissions, and enabling buyers to choose lower methane natural gas. With a methane intensity of less than 0.05%, CRC is leading the way in the State of California and its achievement of the top grade underscores the company’s commitment to reducing methane emissions for its Los Angeles basin assets.”