CHATSWORTH, CA / ACCESSWIRE / February 9, 2016 / California Resources Corporation (NYSE: CRC) an independent oil and natural gas exploration and production company, has recently been under pressure with oil hovering around the $30 mark. California Resources has had some success in reducing its leverage after swapping $2.8 billion of its bonds resulting in a $563 million reduction in its outstanding principal, but it still has a ways to go. With more than $6.4 Billion in debt on the balance sheet, difficult times are ahead for this producer. The market continues to be very concerned about the leverage and liquidity of smaller independent oil companies, with those worries heightened whenever oil takes a big dive. This volatility won't go away until these companies either find a more permanent solution to their issues, or the price of oil rises significantly.
For a more detailed research report with analyst comments on California Resources Corporation (NYSE: CRC) please follow the link. There is no cost obligation required to view analyst brief: http://bit.ly/1W2VCvp-CRC-AnalystCoverage.
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