Crescent Point Energy to acquire Hammerhead Energy from Riverstone Holdings for $1.9bn.

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.