Commercial Origination and Development Manager

Carbon TerraVault Holdings LLC ("CTV"), a wholly owned subsidiary of California Resources Corporation ("CRC"), was launched in 2021 to help advance the energy transition. CRC is the largest oil and natural gas producer in California and owns nearly 1 gigawatt of power generation assets. CTV develops scalable and cost-effective carbon capture, transportation, and sequestration ("CCS") solutions across multiple industrial sectors, including power, cement, renewable fuels, direct air capture, and other emissions-intensive facilities. CTV I, the first commercial and operational CCS project in California, commenced operations in May 2026.

The CTV Commercial Origination and Development team works at the intersection of commercial origination, contracting, and project development to advance low-carbon infrastructure projects from concept toward execution readiness. We are seeking an experienced commercial and project development professional to join our team in our Long Beach or Bakersfield office.

The base annual salary for this posted position is expected to range from $150K-$190K, with a target annual bonus of 20% of base salary and eligibility to participate in our long-term incentive program.

Role Overview

Reporting to the Senior Director of Commercial Origination and Development, this role will be responsible for originating, structuring, contracting, and advancing opportunities across CTV's core CCS platform, including both power-sector and non-power industrial carbon management projects. The role requires strong commercial leadership, project development capability, and the ability to guide cross-functional teams while working closely with external counterparties and internal stakeholders across engineering, subsurface, regulatory, legal, finance, land, and operations.

The role will place particular emphasis on power-sector and power-adjacent opportunities, including CCS retrofits on existing combined-cycle gas turbines, new greenfield generation with CCS (e.g. fuel cells), bioenergy with carbon capture and storage ("BECCS"), behind-the-meter and front-of-the-meter structures, and other decarbonization projects across industrial markets.

Responsibilities:

Origination and Market Development

• Identify, evaluate, and originate CCS, power development, and power-adjacent opportunities across CRC assets, CTV sequestration sites, industrial customer sites, and other strategic locations in California and adjacent markets.
• Build and maintain a pipeline of prospective CO emitters, power offtakers, utilities, community choice aggregators, data center and industrial customers, generation owners, technology providers, developers, and strategic partners.
• Evaluate commercial structures including transportation and sequestration agreements, PPAs, tolling arrangements, capacity and resource adequacy contracts, steam or heat offtake agreements, joint development partnerships, and other carbon management agreements.
• Monitor market, policy, regulatory, competitive, and customer sustainability trends - including 45Q, LCFS, CARB protocols, CAISO dynamics, interconnection constraints, resource adequacy needs, clean firm power demand, and decarbonization procurement trends - to identify commercial opportunities.
• Develop commercial strategies that integrate carbon capture, transportation, sequestration, tax credits, and environmental attributes into bankable project structures.

Project Development and Execution Readiness

• Advance opportunities from origination through feasibility assessment, commercial structuring and definitive agreements, site control, permitting, development planning, and investment decision milestones.
• Lead cross-functional project teams through influence, coordination, and commercial leadership to advance projects from concept toward execution readiness.
• Support internal approvals, economic analyses, management presentations, and recommendations related to commercial opportunities and project advancement.
• Coordinate with project management, legal, land, engineering, subsurface, regulatory, and external partners to define project scope, schedule, risks, commercial milestones, and execution requirements.
• Support permitting, interconnection, transmission, and regulatory processes applicable to CCS and power projects, including EPA Class VI, CEQA, CEC, CPUC, CARB, CAISO, FERC, and related state and federal processes.
• Support and/or lead lender, partner, customer, and other third-party engagements as needed to advance projects toward investment readiness and execution

Qualifications:

Education

• Bachelors degree from a 4-year accredited university required, engineering, finance, economics, business, energy, or related discipline preferred.
• MBA or relevant advanced degree preferred.

Experience

• 7+ years of experience in the energy industry, with preference for experience in power development, power markets, commercial contracting, CCS, energy infrastructure, low-carbon fuels, industrial decarbonization, or related sectors.
• Direct experience with power project development, power origination, PPAs, tolling agreements, interconnection, transmission, CAISO market exposure, resource adequacy, or power asset commercialization is preferred but not required.
• Experience with CCS, carbon management, industrial decarbonization, renewable fuels, bioenergy, fuel cells, or other low-carbon infrastructure is preferred but not required.
• Demonstrated experience working across multiple internal functions to develop, structure, and execute commercial agreements and complex projects.
• Strong understanding of project economics, commercial structuring, and investment decision processes.

Regulatory Knowledge

• Fundamental understanding of applicable regulatory frameworks and permitting processes, including:
• EPA Class VI, IRS Section 45Q, state and federal agencies and processes
• CalGEM, California Air Resources Board (CARB) and CCS protocol
• CA Fish & Wildlife Service (USFWS), CEQA, CA Low Carbon Fuel Standard (LCFS)
• FERC, CEC, CPUC, and relevant power market regulations

Skills & Attributes

• Demonstrated ability to build and manage internal and external stakeholder relationships.
• Detail-oriented and highly organized, with the ability to manage multiple workstreams simultaneously.
• Self-driven and commercially creative, with the ability to identify practical solutions to complex technical, commercial, and business challenges.
• Flexible and able to quickly adapt to change in a fast-paced, high-growth, entrepreneurial environment.
• Advanced user of artificial intelligence applications and proficient in Microsoft Office (Excel, Word, PowerPoint).
• Travel required, likely on a monthly basis, or as needed to support business initiatives.