Story perspectives

Shell Pays $16.4B for ARC, Adds 370k BoE/d

4/30/2026

Summary

Story summary

Shell is buying Calgary-based ARC Resources for $16.4 billion, the biggest foreign acquisition of a Canadian energy firm in a decade.
The deal adds about 370,000 barrels of oil equivalent per day, secures 2 billion barrels of Montney shale reserves, and helps close a 350,000-800,000 barrel-per-day production gap for Shell by mid-2020s.
The purchase follows a shift as other majors such as TotalEnergies and ConocoPhillips review Canadian assets amid heightened Middle-East tensions.

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Story summary

Shell is buying Calgary-based ARC Resources for $16.4 billion, the biggest foreign acquisition of a Canadian energy firm in a decade.
The deal adds about 370,000 barrels of oil equivalent per day, secures 2 billion barrels of Montney shale reserves, and helps close a 350,000-800,000 barrel-per-day production gap for Shell by mid-2020s.
The purchase follows a shift as other majors such as TotalEnergies and ConocoPhillips review Canadian assets amid heightened Middle-East tensions.