Shell has completed its acquisition of ARC Resources, an energy producer focused on British Columbia and Alberta, Canada, after clearing all required shareholder, court and regulatory approvals. The deal carries an equity value of about US$13.9 billion and an enterprise value of about US$16.5 billion once Shell absorbs roughly US$2.5 billion in ARC's net debt and leases.
Under the arrangement agreement, each ARC common share converts into CAD $8.20 in cash plus 0.40247 of a Shell ordinary share. Shell priced the stock portion off its GBP £34.43 closing share price on September 2, 2026, and current exchange rates to arrive at the US$13.9 billion equity figure. Shell is funding that amount with US$3.3 billion in cash and US$10.6 billion in newly issued shares.
Production and reserves
The deal adds about 370 thousand barrels of oil equivalent per day to Shell's output immediately, across both liquids and gas. Shell said the addition supports a production compound annual growth rate of around 4% through 2030, measured against 2025 output.
Shell chief executive Wael Sawan welcomed ARC's team, citing its "high-performance culture, operational excellence and technical expertise" in "Canada's Montney basin." He said the deal increases Shell's exposure to "long-duration, low-cost liquids production."
Financial terms
Shell expects the transaction to generate double-digit returns and increase its long-term cash flows. The company said the deal will add to free cash flow per share starting in 2027.
