Crescent Point Energy is set to become the largest landowner in the Montney play after a multi-billion dollar acquisition. The Calgary-based oil and gas company will acquire roughly 800 drilling locations across northwestern Alberta after the signing of a $2.55 billion deal to acquire Hammerhead Energy Incorporated.
That will make it the seventh-largest oil and gas exploration and production company in Canada by volume. It’s already the largest landowner in the Kaybob Duvernay play.Â
Production from the company is expected to total more than 200,000 barrels of oil equivalent per day upon closure of the deal.