Announced
Financials
Tags
Public
Integrated Oil and Gas
oil and gas
Acquisition
Majority
Pending
Friendly
Single Bidder
Domestic
United States
Synopsis
Crescent Point Energy, an oil and gas company, agreed to acquire Hammerhead Energy, an energy company, from Riverstone Holdings, a private markets asset management firm, for $1.9bn. “We are exceptionally proud of having built a business that has proven to be a top tier asset that has delivered significant organic growth. A combination of asset quality, exceptional people and a solid business plan has positioned the company to be an attractive acquisition target that will benefit from a lower cost of capital inside of a larger enterprise. Since going public in early 2023, we have delivered attractive equity returns for our shareholders, and the ability to maintain a share position in Crescent Point provides our shareholders with the ability to benefit from the continued growth of the business,” Scott Sobie, Hammerhead Energy President and CEO.
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