The Globe and Mail reports in its Tuesday, Nov. 7, edition that Crescent Point Energy is buying Hammerhead Energy, a Calgary-based energy company with assets in the Montney region of Alberta, for a total of $2.55-billion, including about $455-million of Hammerhead's net debt. A Canadian Press dispatch to The Globe reports that the deal will see Crescent Point acquire about 105,000 acres and 800 drilling locations in the region, immediately making Crescent Point the largest landowner in the Alberta Montney's volatile oil fairway. The company is already the largest landowner in the adjacent Kaybob Duvernay shale play. The purchase will also see Crescent Point become Canada's seventh-largest oil and gas exploration and production company by volume, with production expected to total over 200,000 barrels of oil equivalent per day once the deal is closed. The deal is expected to close in December, 2023. The deal will see Hammerhead shareholders receive $21 per fully diluted common share, through a combination of approximately $1.5-billion in cash and 53.2 million common shares of Crescent Point. In August, Crescent Point announced it would sell off its North Dakota assets to focus more on the Montney and Duvernay.