StocksMedium•4 November 2026•
1 min read
California Court Overturns Approval for CRC's Carbon TerraVault I Project
Key Facts
1A California judge set aside the approval of California Resources Corporation's Carbon TerraVault I project, citing environmental impact report deficiencies.
A California judge set aside the approval of California Resources Corporation's Carbon TerraVault I project, citing environmental impact report deficiencies. Benzinga reported that the ruling issued on November 2, 2026, found the project in non-compliance with the California Environmental Quality Act (CEQA), leading to the suspension of its previous approval.
California Resources Corporation, trading under the ticker CRC, closed at $51.38 on November 3, 2026, with a day high of $53.81 and a low of $51.11. This legal setback creates uncertainty for the company's energy transition strategy, as the Carbon TerraVault I project had already begun injecting CO2 at the Elk Hills Field in May 2026.