Item 1.01  Entry into a Material Definitive Agreement.
On June 2, 2020, California Resources Corporation (the "Company") and certain of
its subsidiaries entered into forbearance agreements (collectively, the
"Forbearance Agreements") with:
•         certain lenders (collectively, the "2014 Lenders") of approximately
          84.6% of the outstanding principal amount of the loans under its Credit
          Agreement, dated as of September 24, 2014 (as amended, the "2014 Credit
          Agreement"), by and among the Company, as the Borrower, the subsidiary
          guarantors party thereto, the various Lenders identified therein,
          JPMorgan Chase Bank, N.A., as Administrative Agent, a Lender and a
          Letter of Credit Issuer, and Bank of America, N.A., as a Lender and a
          Letter of Credit Issuer;


•         certain lenders (collectively, the "2016 Lenders") of approximately
          61.6% of the outstanding principal amount of the term loans under its
          Credit Agreement, dated August 12, 2016 (the "2016 Credit Agreement"),
          by and among the Company, as the Borrower, the various Lenders
          identified therein and The Bank of New York Mellon Trust Company, N.A.,
          as Administrative Agent; and


•         certain lenders (collectively, the "2017 Lenders", and together with
          the 2014 Lenders and the 2016 Lenders, the "Forbearing Parties") of
          approximately 79.1% of the outstanding principal amount of the term
          loans under its Credit Agreement, dated as of November 17, 2017 (as
          amended, the "2017 Credit Agreement", and together with the 2014 Credit
          Agreement and the 2016 Credit Agreement, the "Credit Agreements"), by
          and among the Company, as the Borrower, the subsidiary guarantors party
          thereto, the various Lenders identified therein and The Bank of New
          York Mellon Trust, N.A., as Administrative Agent.

Pursuant to the Forbearance Agreements, the Forbearing Parties agreed to forbear from exercising any remedies under the Credit Agreements with respect to the failure to make certain interest payments due on May 29, 2020 until the earlier of (a) 11:59 p.m. (New York time) on June 14, 2020 and (b) the date the Forbearance Agreements otherwise terminate in accordance with their terms. The Forbearance Agreements contain certain representations and warranties of the Company and covenants with which the Company must comply during the forbearance period. The failure to comply with such covenants, among other things, would result in the early termination of the forbearance period. The foregoing descriptions of the Forbearance Agreements are summaries only and are qualified in their entirety by reference to the complete text of the Forbearance Agreements which are attached hereto as Exhibits 10.1, 10.2 and 10.3, and each of them are incorporated by reference into this Item 1.01.

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Item 9.01  Financial Statements and Exhibits
(d)  Exhibits
 Exhibit No.                              Description
    10.1          Forbearance Agreement, dated as of June 2, 2020, by and among
                the Company, the subsidiary guarantors party thereto, certain
                Lenders identified therein, JPMorgan Chase Bank, N.A., as
                Administrative Agent, a Lender and a Letter of Credit Issuer,
                and Bank of America, N.A., a Lender and a Letter of Credit
                Issuer.  *

    10.2          Forbearance Agreement, dated as of June 2, 2020, by and among
                the Company, as the Borrower, the subsidiary guarantors party
                thereto, the various Lenders identified therein and The Bank of
                New York Mellon Trust Company, N.A., as Administrative Agent.  *

    10.3          Forbearance Agreement, dated as of June 2, 2020, by and among
                the Company, as the Borrower, the subsidiary guarantors party
                thereto, the various Lenders identified therein and The Bank of
                New York Mellon Trust Company, N.A., as Administrative Agent.  *

     104        Cover Page Interactive Data File (embedded within the Inline
                XBRL document)

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*   Certain portions of this exhibit (indicated by "[*****]") have been omitted
    pursuant to Item 601(b)(10) of Regulation S-K.

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