Hammerhead Resources Inc. plans to list on the Nasdaq by merging with blank check company Decarbonization Plus Acquisition Corporation IV in a C$1.39 billion ($1.02 billion) deal, a rare U.S.-listing for a Canadian oil and gas producer.
The listing for Hammerhead, focused on the Montney shale formation in Alberta, would be a litmus test for investor confidence in the Canadian oil and gas production business, as for years foreign private equity players and oil majors have been exiting the oil patch due to a myriad of issues.
