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Hammerhead Energy Inc. Enters into Agreement to be Acquired by Crescent Point Energy Corp.

Vinson & Elkins represented affiliates of Riverstone Holdings LLC in connection with Hammerhead Energy’s (“Hammerhead”) entry into a definitive agreement with Crescent Point Energy Corp. (“Crescent Point”) pursuant to which Crescent Point has agreed to acquire all of the issued and outstanding Class A common shares of Hammerhead (“Hammerhead Shares”) for total consideration of C$21.00 per Hammerhead Share.

The proposed transaction is expected to close in late December 2023. The Purchase Price implies an enterprise value for Hammerhead of approximately C$2.55 billion, inclusive of assumed net debt.

The Vinson & Elkins team was led by partner Stancell Haigwood with assistance from senior associate Rob Nicholls and associate Layla Wehbe. Also advising were partner Jason McIntosh, associate Patrick Darby, senior associate Ryan Will and associate Adam Thomas.

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