Tamarack Valley Energy to Acquire Headwater Exploration in $10B All-Stock Merger

September 12, 2026

Tamarack Valley Energy and Headwater Exploration entered into a definitive agreement to merge in an all-stock transaction valued at $10 billion, creating a large, pure-play Clearwater-focused oil producer. Headwater shareholders will receive 1.0 Tamarack share for each Headwater share, and the deal is expected to close in the second half of Q4 2026 subject to approvals.

Targets
Headwater Exploration Inc.
Industry
Oil & Gas
Location
Alberta, Canada
Transaction Type
Buyout

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