Tamarack Valley and Headwater Announce C$10 Billion Merger

By EC Assets · Published 8 September 2026

Tamarack Valley Energy and Headwater Exploration plan to merge in an all-stock transaction. The deal is valued at C$10 billion. It aims to create a larger oil producer focused on Alberta's Clearwater formation. Tamarack Valley Energy will acquire Headwater Exploration. The transaction was announced on Tuesday. The combined entity will become the largest publicly traded oil producer specializing in Alberta's Clearwater formation. Headwater shareholders will receive 1.0 common share of Tamarack for each Headwater common share held. Tamarack will issue a total of 237.8 million common shares as part of the agreement. The all-stock deal is valued at approximately $7.25 billion in U.S. dollars. This strategic combination intends to create a premier North American oil producer. The companies expect it to foster new growth opportunities. The deal aims to establish a significant player in the energy sector. This article is intended for informational purposes only. It does not constitute investment advice.