Job Description

California Resources Corporation (NYSE: CRC) is California's largest oil and natural gas producer and one of the state's leading carbon management companies. Through its Carbon TerraVault platform, CRC is developing one of North America's premier carbon capture and storage (“CCS”) businesses, leveraging a unique portfolio of permitted geologic storage assets, strategic infrastructure, and deep operating expertise.

CRC is advancing a differentiated portfolio of energy infrastructure assets across carbon management, low-carbon power, and adjacent energy infrastructure to help accelerate California's energy transition. Carbon TerraVault is further supported by a strategic joint venture with Brookfield, which has committed an initial $500 million to invest in CCS projects. Having successfully achieved California's first operational CO₂ injection for permanent geologic storage in 2026, Carbon TerraVault has demonstrated the commercial execution of its CCS platform and is well positioned for continued expansion. Our Corporate Development team plays a central role in evaluating and executing acquisitions, strategic partnerships, project financings, and other investment opportunities that support the company's long-term growth strategy.

The Carbon TerraVault Corporate Development team is seeking a Manager, Corporate Development, reporting to the Director, Corporate Development. This is a transaction-focused role responsible for evaluating, structuring, and executing strategic investments across carbon capture and storage, power generation, renewable energy, and broader energy infrastructure. The successful candidate will work closely with senior leadership on commercial partnerships, strategic investments, joint ventures, project financings, and acquisitions supporting the continued growth of Carbon TerraVault's portfolio.

The base annual salary for this posted position is reasonably expected to range from $100K to $165K, with a target annual bonus of 10-20% of base salary and eligibility to participate in our long-term incentive program.  Individual pay decisions are based on several factors, including education, experience level and relevant industry experience. Benefits Include: Medical, Dental, Vision, 401k with Match, Paid holidays, FSA, HSA.

Responsibilities:

• Build and maintain sophisticated financial models supporting acquisitions, project financings, joint ventures, and strategic investments.
• Develop and maintain project-level economic models to evaluate project returns, capital requirements, commercial assumptions, financing capacity, and key sensitivities.
• Support the development and evaluation of internal project structures, including ownership, funding, commercial, tax credit, and risk-allocation alternatives.
• Evaluate investment opportunities across CCS, power, renewable energy, and related infrastructure sectors.
• Perform valuation, commercial analysis, financial diligence, and investment underwriting.
• Prepare investment memoranda, Board materials, and executive presentations.
• Support transaction execution through due diligence, negotiations, financing processes, and closing activities.
• Partner closely with engineering, commercial, legal, finance, and external advisors throughout transaction execution.
• Monitor market developments and support the identification of strategic investment opportunities.

Required Qualifications:

• Bachelor's degree in Finance, Economics, Engineering, Accounting, or a related discipline.
• Approximately 3–6 years of experience in investment banking, corporate development, infrastructure investing, project finance, or a similar transaction-focused role.
• Advanced financial modeling and valuation capabilities.
• Strong PowerPoint, presentation, and communication skills.
• Ability to manage multiple workstreams in a fast-paced environment.

Preferred Qualifications:

• Demonstrable successful end-to-end transaction execution and closing experience.
• Experience in power, utilities, renewable energy, energy infrastructure, or carbon capture and storage.
• Project finance experience, particularly involving power or infrastructure assets.
• Experience supporting mergers and acquisitions, joint ventures, strategic partnerships, or structured financings.
• Engineering or technical exposure to energy infrastructure is advantageous.