One-Page Deal Sheet
Headwater Inks $100MM Deal for Cenovus' Marten Hills Asset
Headwater Exploration Inc. Cenovus Energy Inc.
Announced Date
November 09,2020
Close Date
December 02,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
100
Asset/Basin:
["Clearwater"]
TargetZones:
["Clearwater"]
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Headwater Exploration Inc. has entered into a definitive agreement with Cenovus Energy Inc. to acquire 100% of Cenovus’ assets in the Marten Hills area of Alberta for approximately $100 million in cash and stock.
$35 million cash 50 million common shares of Headwater and 15 million purchase warrants exercisable at $2.00 per common share with a three-year term This deal closed on December 2, 2020. Asset Details Net Acres: 172,800 (270 sections) - 100% WI Production: 2,800 BOPD
$35 million cash 50 million common shares of Headwater and 15 million purchase warrants exercisable at $2.00 per common share with a three-year term This deal closed on December 2, 2020. Asset Details Net Acres: 172,800 (270 sections) - 100% WI Production: 2,800 BOPD
Neil Roszell, Headwater’s Chairman and Chief Executive Officer, said: “We are extremely pleased to have…
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