Oil giant Shell agrees to buy Canada’s ARC Resources for $16.4 billion
The deal adds about 370,000 barrels of oil equivalent a day and 2 billion barrels of reserves to Shell’s upstream portfolio, the company said.
- On Monday, Shell plc agreed to acquire ARC Resources Ltd. for approximately $13.6 billion, significantly expanding its position in Canada's Montney shale basin.
- The transaction adds roughly 370,000 boed of production and approximately 2 billion boe of proved plus probable reserves, combining ARC's assets in British Columbia and Alberta with Shell's existing Montney footprint.
- Shell targets a compound annual growth rate of around 4% through 2030, with CEO Wael Sawan stating the deal strengthens the company's resource base for decades to come.
- The acquisition underscores continued consolidation in North American shale, highlighting the strategic importance of Canadian gas resources tied to LNG export growth.
- Subject to shareholder and regulatory approvals under the Investment Canada Act, the deal is expected to close in the second half of 2026.
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Shell’s blockbuster deal underscores Canada’s rising role in global LNG
Shell is making its biggest acquisition in more than a decade, agreeing to buy Canadian producer ARC Resources for $13.6 billion in a deal that deepens its bet on natural gas and reinforces Canada as a strategic growth hub, Bloomberg writes. The transaction expands Shell’s resource base, supports long-term production growth and strengthens supply for LNG Canada, the export project positioned to connect Canadian gas to Asian markets. It also mar…
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