California Resources Corporation Archives • Long Beach Business Journal
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Long Beach oil operator files for bankruptcy but production to continue—for about 20 years

The company that operates the majority of city-owned oil wells recently filed for Chapter 11 bankruptcy amid plummeting oil prices, but officials with the California Resources Corporation said there will be no impact locally or statewide.    “This is a balance sheet restructuring, … this isn’t about liquidating,” spokesperson Margita Thompson said.   The California […]