By Ayomide Otitoju
Shell has announced plans to acquire Canadian oil and gas firm ARC Resources in a deal valued at approximately $16.4 billion, as part of efforts to expand its shale gas and liquids portfolio.
In a statement on Monday, Shell said the acquisition, which includes about $13.6 billion in equity value and $2.8 billion in net debt, has been approved by the boards of both companies and is expected to close in the second half of 2026, subject to regulatory approvals.
Shell’s Chief Executive Officer, Wael Sawan, said the deal would strengthen the company’s presence in Canada and align with its strategy of delivering higher value with lower emissions.
He noted that the acquisition would provide access to strategically located assets and technical expertise, enhancing Shell’s operational performance and long-term growth prospects.
ARC Resources’ President and CEO, Terry Anderson, described the merger as a significant step, adding that the company’s assets and workforce would contribute to strengthening Canada’s energy sector while supporting global energy supply.
ARC’s operations are located in western British Columbia and neighbouring Alberta, close to Shell’s existing assets in the region.
The acquisition underscores Shell’s continued investment in North American energy resources as it seeks to expand output while advancing its energy transition strategy.
