California Resources, an independent oil and natural gas company, and Brookfield Renewable, a publicly traded limited partnership that owns and operates renewable power assets, agreed to form a joint venture, creating a carbon management partnership focused on carbon capture and sequestration development. Financial terms were not disclosed. "We are pleased to partner with Brookfield to develop industry leading CCS projects that support California's energy transition. The Brookfield partnership aligns our carbon management strategy with a strong investment partner, bringing significant operational and development expertise to reinforce our efforts. Brookfield's capital commitment also accelerates our carbon management opportunities. It also enables CRC to maintain capital discipline and financial flexibility to achieve our corporate objectives including achieving our Full-Scope Net Zero 2045 goal," Mac McFarland, CRC President and CEO.