Hammerhead Resources completes business combination, forms Hammerhead Energy
Feb. 23, 2023
Hammerhead Resources Inc., Calgary, has completed its business combination with special purpose acquisition company Decarbonization Plus Acquisition Corp. IV, sponsored by private investment firm Riverstone, and renamed itself Hammerhead Energy Inc.
Hammerhead is a Canadian oil and gas exploration and production company developing a 107,000 net acre resource base within the Montney light oil window in Alberta. It holds an undeveloped inventory of over 1,500 gross well locations targeting the Upper and Lower Montney within its core development areas of Gold Creek, South Karr, and North Karr near Grande Prairie, Alta.
In January 2023, Hammerhead set a monthly production record for Hammerhead of 40,308 boe/d. The company plans to run a continuous two-rig program through 2023 to drill about 40 wells primarily within its North and South Karr assets. Full year 2023 guidance is expected to be released with 2022 yearend results on Mar. 23, 2023.
Production in 2022 averaged 32,081 boe/d. In Gold Creek, the company brought 15 wells (net) on-stream in 2022. At Karr, the company brought 13 (net) wells on-stream in 2022.
