Shell Completes $16.5 Billion Acquisition of ARC Resources

Shell plc completed the acquisition of ARC Resources Ltd. on September 2, 2026, after receiving all required regulatory, court, and shareholder approvals. The transaction carries a total enterprise value of approximately $16.5 billion, which includes $13.9 billion in equity and $2.5 billion in assumed net debt and leases. To fund the deal, Shell provided $3.3 billion in cash and $10.6 billion in new shares.

ARC shareholders received CAD $8.20 in cash and 0.40247 Shell ordinary shares for each common share held. The acquisition adds roughly 370,000 barrels of oil equivalent per day in liquids and gas production, centered primarily in the Montney basin of Canada.

Shell expects the integration to support a production compound annual growth rate of about 4% through 2030. The company anticipates the transaction will become accretive to free cash flow per share starting in 2027. The deal was facilitated by exemption orders from the Alberta and Ontario Securities Commissions regarding formal issuer bid requirements.