Its mineral acreage holdings in California constitute the largest privately held position in the state.

[1] Its largest holding is the 47,000-acre Elk Hills Oil Field, 20 miles west of Bakersfield, California in the San Joaquin Valley.

As of December 31, 2021, the company had 480 million barrels of oil equivalent (2.9×109 GJ) of estimated proved reserves, of which 71% was petroleum, 20% was natural gas, and 9% was natural gas liquids.

[1] The company was formed in April 2014 as a corporate spin-off of Occidental Petroleum.

[7][8] In February, 2024, they announced a $2.1 billion, all-stock purchase agreement for Aera Energy.