Tamarack Valley Energy to Acquire Headwater Exploration in C$10 Billion Merger

Cenovus Energy to Acquire Athabasca Oil Corporation

October 5, 2026

Oil & Gas

Cenovus Energy entered into a definitive arrangement agreement to acquire all outstanding shares of Athabasca Oil Corporation in a cash-and-stock transaction valued at approximately C$5.7 billion. The acquisition adds Athabasca’s thermal oil sands and Duvernay assets to Cenovus’s portfolio; closing is expected in December 2026, subject to shareholder, regulatory, and other customary approvals.

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

September 12, 2026

Oil & Gas

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.

Headwater Energy Acquires Arena Renewables

April 23, 2026

Infrastructure

Headwater Energy has completed its acquisition of Arena Renewables, a distributed generation solar and battery energy storage system (BESS) developer. The deal combines Arena’s project development capabilities and near-1 GW pipeline with Headwater’s financing and operational platform to accelerate deployment across U.S. markets.

Woodsman Energy Acquires Central and Northern Alberta Oil & Gas Assets

March 28, 2024

Oil & Gas

Woodsman Energy Corp., with financing provided by a fund managed by Westbridge Capital Ltd., closed the acquisition of oil and gas assets in Central and Northern Alberta (Sullivan Lake and Valhalla) on March 28, 2024. The properties add approximately 400 boe/d of production (about 60% oil/NGLs), are >95% working interest and mostly operated, and expand Woodsman's portfolio of long-life, low-decline assets.

Buckeye Partners Acquires Bear Head Energy Development Project

May 5, 2022

Energy

Buckeye Partners, L.P. entered into a definitive agreement to acquire Bear Head Energy, Inc., the owner of the Bear Head clean energy development project located in Point Tupper / Port Hawkesbury, Nova Scotia. The project — a fully permitted former LNG import/export site with extensive land and water lot access — will be developed as a large-scale, lower-carbon energy production, distribution and export hub (including potential LNG or other green fuels).

Tamarack Valley Energy Acquires Crestwynd Exploration Ltd.

February 15, 2022

Oil & Gas

Tamarack Valley Energy Ltd. completed the acquisition of privately held Crestwynd Exploration Ltd., a Clearwater-focused oil producer, by purchasing all issued and outstanding shares for 26.3 million Tamarack common shares and $92 million in cash. The deal makes Tamarack the largest operator in the Southern Clearwater with the acquired assets forecasted to produce ~4,500 boe/d.