Leon said the company now believes California production can be maintained using six rigs on a normalized annual basis, one fewer than previously projected. Crespy said the company expects all four wells to be online before the end of the year. Crimson Deal Aims to Expand Market AccessCRC announced an all-cash acquisition of Crimson's roughly 2,000-mile California crude oil pipeline network. About California Resources (NYSE:CRC)California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. The article "California Resources Q2 Earnings Call Highlights" was originally published by MarketBeat.