September 28, 2026
A $10 Billion Merger Is Creating a New Alberta Oil Heavyweight
Two Canadian oil producers are joining forces in a $10 billion deal that will create the largest publicly traded company focused on one of Alberta’s increasingly important oil-producing regions. Tamarack Valley Energy and Headwater Exploration announced an all-stock merger in September that will combine their operations in Alberta’s Clearwater Formation. Tamarack shareholders will own approximately 66.5% of the combined company, while Headwater shareholders will hold the remaining 33.5%. The transaction will bring together major operations at Marten Hills, Nipisi and Marten Hills West, creating a larger producer with more land, production and opportunities to develop the Clearwater region. The formation











