A driver fills up at a Shell gas stationImage: keystone
April 27, 2026, 8:37 p.mApril 27, 2026, 8:37 p.m
British energy giant Shell is investing more than $16 billion to acquire ARC Resources. The oil and gas company wants to use this to compensate for falling production volumes. The purchase is intended to increase production by 370,000 barrels of oil equivalent per day.
With the deal, Shell aims to strengthen its resource base “for decades to come” and expand its presence in North America, the company said. Specifically, it is about the Montney Basin in the Canadian provinces of British Columbia and Alberta for the production of shale gas.
The Canadian company is a “high-quality, cost-effective and low-CO2 producer,” said Shell CEO Wael Sawan, according to the statement. According to the Financial Times, the deal represents a further step in Shell’s ambition to become one of the largest players in the liquefied natural gas (LNG) market.
According to Shell, as part of the acquisition, it will also assume net liabilities and leasing obligations of around $2.8 billion, resulting in an enterprise value of $16.4 billion. (sda/awp/dpa)