California Resources Corporation is an independent oil and natural gas exploration and production company. The Company has operating properties within the State of California. The Company has operations in oil and gas basins, including San Joaquin Basin, Los Angeles Basin, Ventura Basin and Sacramento Basin. San Joaquin Basin operates and develops approximately 48 fields and holds surface and mineral interests in the Elk Hills field. At Elk Hills, it operates natural gas processing facilities, including a cryogenic gas plant, with a combined gas processing capacity of over 520 million cubic feet per day (MMcf/d). Los Angeles Basin operates and develops approximately 8 fields and its active oil fields include the Wilmington and Huntington Beach fields. Ventura Basin operates approximately 27 oil fields and holds over 232,000 net mineral acres in the basin. The Company operates approximately 53 fields in the Sacramento Basin, primarily consisting of dry gas production.