CALGARY, Alberta, March 28, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead Energy" or "HEI") (TSX:HHRS, HHRS.WT, NASDAQ:HHRS, HHRSW))) is pleased to announce record 2022 annual financial and operating results, year-end 2022 reserves and provide 2023 guidance. On February 23, 2023, HEI completed a plan of arrangement pursuant to a business combination agreement with Decarbonization Plus Acquisition Corporation IV ("DCRD"), an affiliate of HEI's controlling shareholder, Riverstone Holdings LLC, Hammerhead Resources Inc. (the "Company") and certain other parties and their respective shareholders. Pursuant to the plan of arrangement, DCRD amalgamated with a wholly owned subsidia

CALGARY, AB, Dec. 20, 2023 /PRNewswire/ - Hammerhead Energy Inc. ("Hammerhead" or the "Corporation") (TSX:HHRS) (NASDAQ:HHRS) is pleased to announce that today at its special meeting (the "Meeting") of the holders (the "Shareholders") of Class A common shares of Hammerhead (the "Common Shares"), the Shareholders passed a special resolution (the "Arrangement Resolution") approving a plan of arrangement under Section 193 of the Business Corporations Act (Alberta), pursuant to which Crescent Point Energy Corp. ("Crescent Point") will acquire all of the issued and outstanding Common Shares and the Corporation will become a direct wholly owned subsidiary of Crescent Point. Shareholders (other tha

CALGARY, Alberta, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or the "Company") (TSX:HHRS, NASDAQ:HHRS) is pleased to announce that it has filed the management information circular ("Information Circular") and related meeting materials (together with the Information Circular, the "Meeting Materials") for the special meeting of holders ("Shareholders") of Class A common shares of Hammerhead ("Hammerhead Shares") to be held at 2400, 525 – 8th Avenue S.W., Calgary, Alberta, T2P 1G1 on December 20, 2023 at 8:30 a.m. (Calgary time) (the "Meeting"). At the Meeting, Shareholders will be asked to consider, and, if thought advisable, approve a Plan of Arrangement (the "A

CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or the "Company") (TSX:HHRS, NASDAQ:HHRS) is pleased to announce record financial and operating results for the third quarter of 2023. During the quarter, the Company maintained its planned two-rig program targeting Montney light oil, with a focus at North Karr. The critical new infrastructure expansion at South Karr has continued to be on time and on budget. Hammerhead also completed drilling of its first ever multi-well pad at South Karr (the nine-well 5-11 pad) which includes three new Lower Montney wells. These wells are expected to be brought on-stream when the South Karr facilities work is comple

CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead") (TSX:HHRS, NASDAQ:HHRS) is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Crescent Point Energy Corp. ("Crescent Point") (TSX:CPG, NYSE:CPG) 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 "Purchase Price"). The proposed transaction (the "Transaction") is to be completed by way of a plan of arrangement under the Business Corporations Act (Alberta) and is expected to close in la

CALGARY, Alberta, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or the "Company") (TSX:HHRS, NASDAQ:HHRS) is pleased to announce the expansion of its credit facility to C$450 million (from C$350 million) effective September 27, 2023. The increase in the credit facility was achieved through a combination of increased commitments by the existing lenders and the addition of the Bank of Montreal into the lending syndicate. The Company is very pleased to have the Bank of Montreal join its lending syndicate and looks forward to a productive relationship with its entire banking syndicate. The increase in the credit facility has allowed Hammerhead to repay, at par value,

CALGARY, Alberta, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Based upon continued strong execution in the field with respect to both costs and performance, Hammerhead Energy Inc. ("Hammerhead" or the "Company") (TSX:HHRS, HHRS.WT, NASDAQ:HHRS, HHRSW))) is pleased to announce increased 2023 annual average production guidance of 41,500 boe/d3 from the previous estimate of 40,200 boe/d. Crude oil production is estimated to be 35% of production from a prior estimate of 33%. Since coming on production August 6th, performance to date on the 12-well North Karr 10-14 pad has thus far materially exceeded the Company's internal forecast, with peak pad production exceeding 17,800 boe/d3 (over 50% crude oil).

CALGARY, Alberta, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or the "Company") (NASDAQ:HHRS, HHRSW, TSX:HHRS, HHRS.WT))) today announced the "Fair Market Value" in connection with its previously announced redemption of its outstanding Public Warrants (as defined below). The Fair Market Value will be used to determine the number of Class A Common Shares (the "Common Shares"), that will be issued on a "cashless" exercise of a Public Warrant subject to the terms of the A&R Warrant Agreement (as defined below). On August 16, 2023, the Company announced that it will redeem all of its outstanding public warrants to purchase Common Shares that were originally issued a

CALGARY, Alberta, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or the "Company") (NASDAQ:HHRS, HHRSW, TSX:HHRS, HHRS.WT))) today announced that it will redeem for cash all of its outstanding public warrants to purchase its Class A Common Shares ("Common Shares"), originally issued as part of the units sold in Decarbonization Plus Acquisition Corporation IV's ("DCRD") initial public offering (the "Public Warrants") and originally issued pursuant to the Warrant Agreement, dated August 10, 2021 (the "Warrant Agreement"), by and between DCRD and Continental Stock Transfer & Trust Company, as warrant agent, and assumed by the Company pursuant to an amended and restated

CALGARY, Alberta, Aug. 03, 2023 (GLOBE NEWSWIRE) --  Hammerhead Energy Inc. ("Hammerhead" or the "Company") (TSX:HHRS, HHRS.WT, NASDAQ:HHRS, HHRSW))) is pleased to announce financial and operating results for the second quarter of 2023. During the quarter, the Company continued to execute on a two-rig program targeting Montney light oil growth in its three core areas (North Karr, South Karr and Gold Creek). The Company continues to progress critical infrastructure expansions which are on target to increase production capacity to over 80,000 boe/d. Operational cadence and execution during the quarter yielded significant and repeatable capital efficiency gains. Hammerhead's development progr

CALGARY, Alberta, June 08, 2023 (GLOBE NEWSWIRE) -- Hammerhead Energy Inc. ("Hammerhead" or "HEI") (TSX:HHRS, HHRS.WT, NASDAQ:HHRS, HHRSW))) is pleased to announce that on June 8, 2023, it held its annual and special meeting of shareholders. A total of 81,670,052 Class A common shares ("Common Shares"), representing approximately 89.77% of HEI's outstanding Common Shares, were represented in person or by proxy at the meeting. At the meeting, shareholders approved the election of eight (8) directors of HEI to serve until the next annual meeting of shareholders of HEI, or until their successors are elected or appointed, with the number and percentage of Common Shares represented at th

BMO Capital Markets initiated coverage of Hammerhead Energy with a rating of Outperform

RBC Capital Mkts initiated coverage of Hammerhead Energy with a rating of Sector Perform

Stifel initiated coverage of Hammerhead Energy with a rating of Buy

 Hammerhead Energy Inc. ("Hammerhead" or the "Corporation") (TSX:HHRS) (NASDAQ:HHRS) is pleased to announce that today at its special meeting (the "Meeting") of the holders (the "Shareholders") of Class A common shares of Hammerhead (the "Common Shares"), the Shareholders passed a special resolution (the "Arrangement Resolution") approving a plan of arrangement under Section 193 of the Business Corporations Act (Alberta), pursuant to which Crescent Point Energy Corp. ("Crescent Point") will acquire all of the issued and outstanding Common Shares and the Corporation will become a direct wholly owned subsidiary of Crescent Point. Shareholders (other than dissenting Shareholders) will receive,

As of Nov. 15, 2023, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here’s the latest list of major overbought players in this sector. Teekay Tankers Ltd. (NYSE:TNK) Teekay Tankers posted upbeat quarterly results. The company’s stock ha

Companies Reporting Before The Bell • CorEnergy Infr Tr (NYSE:CORR) is estimated to report earnings for its third quarter. • Ballard Power Systems (NASDAQ:BLDP) is expected to report quarterly loss at $0.13 per share on revenue of $26.20 million. • Melco Resorts and Enter (NASDAQ:MLCO) is likely to report quarterly earnings at $0.03 per share on revenue of $1.03 billion. • Consolidated Comms Hldgs (NASDAQ:CNSL) is expected to report quarterly loss at $0.37 per share on revenue of $274.23 million. • Sophia Genetics (NASDAQ:SOPH) is projected to report quarterly loss at $0.31 per share on revenue of $15.63 million. • Endeavor Gr Hldgs (NYSE:EDR) is estimated to report quarterly earnings

Pursuant to the Transaction, each Hammerhead Share will be exchanged for C$15.50 of cash consideration and C$5.50 in value in the form of common shares of Crescent Point, based on the offering price of the concurrent equity offering announced by Crescent Point.

RBC Capital analyst Michael Harvey maintains Hammerhead Energy (TSX:HHRS) with a Sector Perform and raises the price target from C$16 to C$18.

Since coming on production August 6th, performance to date on the 12-well North Karr 10-14 pad has thus far materially exceeded the Company's internal forecast, with peak pad production exceeding 17,800 boe/d (over 50% crude oil). As a result, field estimates of Hammerhead's corporate production volumes for the month of August averaged 48,500 boe/d, while also having additional production "behind pipe" due to North Karr total production capability exceeding infrastructure capacity. Based on the current commodity price strip, the 12-well pad at North Karr 10-14 is currently on track to achieve payout6 in three months or less based on average DCET well costs of only $7.9 million per well.

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