The oil and gas producer is merging with blank-cheque company Decarbonization Plus Acquisition Corporation IV in a $1.39-billion deal. It plans to go public on the Nasdaq exchange. (The Logic)
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The oil and gas producer is merging with blank-cheque company Decarbonization Plus Acquisition Corporation IV in a $1.39-billion deal. It plans to go public on the Nasdaq exchange. (The Logic)
Talking point: Hammerhead said it will use the funds to continue developing its carbon-capture program, which it expects will cost $240 million between 2023 and 2029, and cut the company’s emissions profile by about 79 per cent. Hammerhead, which operates around 146 wells in the Montney formation located in northern B.C. and Alberta, is among a number of oil producers in recent years that have begun to pursue carbon sequestration with an eye to future gains. The deal also comes amid a broader slowdown in SPAC deals.
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