Shell announces agreement to acquire Canadian ARC Resources Ltd in US$16.4 billion deal

WAM
28 Apr 2026, 05:01 GMT+10

LONDON, 28th April, 2026 (WAM) -- Shell plc has entered into a definitive agreement to acquire ARC Resources Ltd., an energy company focused on the Montney shale basin in British Columbia and Alberta, Canada, in a $16.4 billion deal.

The acquisition accelerates Shell's strategy by adding 370 kboe/d1 immediately across liquids and gas leading to a 4% production CAGR2 through to 2030, compared to 2025.

A company press release said the deal increases Shell's exposure to long-duration, low-cost and top quartile low carbon intensity shale gas and liquids production in Canada's Montney basin, delivering value for decades.

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