Shell has agreed to acquire ARC Resources for $22 billion. The deal includes all issued and outstanding common shares in a cash and share transaction. It marks a significant energy acquisition for Shell and establishes Canada as a strategic heartland for the supermajor.
The purchase price is set at $32.80 per share. This price is payable with 75% in Shell shares and 25% in cash, representing a 27% premium over ARC’s closing price on April 24, 2026. The transaction has received unanimous approval from ARC’s Board of Directors.
ARC shareholders will receive 0.40247 of a Shell Share and $8.20 in cash for each ARC Share. The transaction is expected to close in the second half of 2026, pending regulatory approvals and shareholder votes.
This acquisition will add 370 kboe/d of production across liquids and gas. It is projected to lead to a 4% production CAGR through to 2030. The deal strengthens Shell’s integrated gas business and creates a new platform for growth in Canada.
Wael Sawan, CEO of Shell, stated, “This establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions.” Hal Kvisle, Chair of the ARC Board, emphasized that the board unanimously recommends this strategic transaction to shareholders.
Terry Anderson, President and CEO of ARC Resources Ltd, expressed gratitude to their team for their dedication. He noted that the acquisition represents an important step forward for both companies.
As this development unfolds, it highlights the significance of the Montney shale basin in Canada’s energy landscape. The integration of ARC Resources into Shell’s operations could reshape the future of energy production in the region.
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