ARC Resources Acquired by Shell | Energy M&A Deal

Shell has completed the acquisition of ARC Resources, a oilfield services business in Canada’s Montney shale basin in British Columbia and Alberta, for $13.6 billion. Shell acquires ARC Resources to expand upstream production, combining ARC’s more than 1.5 million net acres with Shell’s roughly 440,000 net acres in the Montney formation. ARC Resources produces liquids and natural gas, with liquids driving about 70% of revenue and gas reserves supporting Shell’s Canada LNG growth plans. The strategic acquisition is structured as a merger acquisition with an enterprise value around $16.4 billion, including about $2.8 billion in net debt and leases, and is expected to close in the second half of 2026 subject to approvals. ARC shareholders will receive CAD 8.20 in cash plus 0.40247 Shell shares per ARC share, implying a 20% premium to the 30-day volume-weighted average price.