Canadian ARC Resources announced that its shareholders approved the company’s acquisition by Shell, according to a press release by ARC. Shell announced earlier this year it would buy the Canadian natural gas producer in a $16.4 billion transaction, aiming to strengthen its North American gas portfolio, according to Reuters.

ARC said 99.54% of votes cast at a special shareholder meeting backed the transaction, noting that key regulatory approvals had already been secured, including competition clearances in Canada and the US.

A Shell spokesperson said the company will resume its share buyback programme once the shareholder vote is completed.

“The portion of the $3 billion buybacks we announced at ‌Q1 ⁠that was not undertaken due to the necessary suspension of the program will be made up in the remainder of 2026 (subject to board approval),” the spokesperson added.

Last month, Shell paused its $3 billion share buyback to comply with securities law requirements tied to the acquisition until the shareholder vote. The Alberta Securities Commission has since granted Shell relief from certain rules governing its repurchase programs in the UK and Netherlands, satisfying another condition for the deal to close.

ARC Resources Ltd., a pure‑play Montney producer, ranks among Canada’s largest dividend‑paying energy companies with low‑cost operations. Its investment‑grade credit profile is underpinned by commodity and geographic diversity, alongside strong risk management across the business. ARC’s common shares trade on the Toronto Stock Exchange under the symbol ARX.