Hammerhead, Decarbonization Plus Enter Business Combination Deal

Hammerhead Resources Inc., and Decarbonization Plus Acquisition Corporation IV (DCRD, DCRDW, DCRDU), a special purpose acquisition company, have entered into a definitive agreement for a business combination that values Hammerhead at C$1.39 billion. DCRD is sponsored by an affiliate of Riverstone Holdings LLC.

The combined company is expected to be listed on the Nasdaq under the ticker symbol, HHRS. The combined company will continue to be managed by Hammerhead's current executive team.

Hammerhead expects 2022 production to average 31,500-32,500 boe/d.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, who recently took Twitter Inc. private in a $44-billion deal, accused Apple Inc. of threatening to block the social media platform from its app store without giving the reason. In a series of tweets on Monday, the Tesla founder and CEO also said the tech giant had stopped advertising on Twitter, and that it was pressuring the firm over content moderation demands. Payments platform Paysafe has inked a partnership deal with Richard Branson's Virgin Voyages to enable travelers to speedily and securely make online payments for reserving next cruise booking. Paysafe's travel solution will also help mitigate all payment risks for travelers. Shares of easyJet plc were losing around 4 percent in the morning trading in London after the British low-cost airline reported a loss in its fiscal 2022. However, the loss was narrower than last year with strong growth in revenues as demand returned. Looking forward, easyJet projects first-quarter load factor growth of approximately 10 percentage points year-over-year.
Follow RTT