Shell Buys ARC Resources for $13.6B, Its Largest Deal in a Decade

Shell plc signed a definitive agreement to acquire Canadian producer ARC Resources Ltd. for US$13.6 billion. The cash-and-stock transaction marks Shell’s most significant acquisition in over 10 years. This deal represents the first major strategic move under CEO Wael Sawan to bolster fossil fuel reserves.

The acquisition adds low-cost shale gas and liquid hydrocarbon assets from Canada’s Montney basin. Shell intends to refocus on its core oil and gas business to enhance shareholder returns. These assets will support the LNG Canada export project to provide increased access to Asian markets.

ARC Resources' shares surged 24% to a 10-year high following the late April 27 announcement. Shell's shares saw a slight decline in London trading. The companies have scheduled a Q&A session regarding the deal for April 28.