Shell has agreed a 16.4 billion US dollar (\u00a312.1 billion) deal to buy Canadian energy firm ARC Resources in a bid to boost its gas production and reserves.<\/p>\n
The British energy giant said the acquisition will strengthen its resource base \u201cfor decades to come\u201d.<\/p>\n
It will also strengthen the business\u2019s presence in North America, where it already operates gas plants.<\/p>\n
The deal will combine ARC\u2019s more than 1.5 million net acres of land with Shell\u2019s approximately 440,000 in the Montney gas resource in Canada.<\/p>\n
It will increase Shell\u2019s production growth rate from 1% to 4% through to 2030, compared with 2025, according to the firm.<\/p>\n
Shell\u2019s chief executive Wael Sawan said acquiring the \u201chigh quality, low-cost\u201d energy business \u201cstrengthens our resource base for decades to come\u201d.<\/p>\n
He added: \u201cWe are accessing uniquely positioned assets and welcoming colleagues that bring deep expertise which, combined with Shell\u2019s strong basin level performance, provides a compelling proposition for shareholders.<\/p>\n
\u201cThis establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions.\u201d<\/p>\n
Shell has been carrying out a new growth strategy focused on extracting more oil and gas, moving from a focus on green energy and reducing spending on renewables.<\/p>\n
It hopes the shift will support production targets and drive greater returns for investors.<\/p>\n
The announcement comes a few weeks after Shell said it had cut its gas production outlook for the first quarter of 2026 after being affected by the conflict in the Middle East.<\/p>\n
The energy giant trimmed its guidance for integrated gas production after volumes from Qatar were particularly affected during recent attacks.<\/p>\n
The deal will see ARC\u2019s shareholders receive 8.20 Canadian dollars (\u00a34.50) and about 0.4 Shell shares for each ARC share.<\/p>\n
Including about 2.8 billion US dollars (\u00a32.1 billion) in debt that Shell will take on, the acquisition is valued at about 16.4 billion US dollars (\u00a312.1 billion).<\/p>\n
It is expected to complete in the second half of 2026, subject to shareholder, court and regulatory approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"Shell has agreed a 16.4 billion US dollar (\u00a312.1 billion) deal to buy Canadian energy firm ARC Resources…\n","protected":false},"author":2,"featured_media":22790,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[11335,17,11336,5041,11337,10747],"class_list":{"0":"post-22789","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-arc-resources","9":"tag-canada","10":"tag-gas-production","11":"tag-green-energy","12":"tag-resource-base","13":"tag-shell"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/22789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=22789"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/22789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/22790"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=22789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=22789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=22789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}