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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.

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