Shell has completed its previously announced acquisition of Canadian energy company ARC Resources Ltd., following the receipt of all required shareholder, court, and regulatory approvals, according to a press release by Shell.
The acquisition adds approximately 370,000 barrels of oil equivalent per day (boe/d) of liquids and gas production to Shell’s portfolio and is expected to support a production compound annual growth rate of around 4% through 2030, compared with 2025 levels.
Under the transaction terms, ARC shareholders received CAD 8.20 in cash and 0.40247 Shell ordinary shares for each ARC common share.
Based on Shell’s closing share price on September 2, 2026, the transaction represents an equity value of approximately $13.9 billion, with Shell assuming around $2.5 billion in net debt and leases, bringing the total enterprise value to approximately $16.5 billion.
The equity value was funded through $3.3 billion in cash and $10.6 billion in newly issued Shell shares.
Shell expects the acquisition to generate double-digit returns, strengthen long-term cash flows, and increase free cash flow per share from 2027 onward.
Recently, Shell, through its subsidiary Equilon Enterprises, has agreed to increase its stake in Tri Star Energy from 33% to 100%, expanding its company-owned mobility and convenience retail operations in the southeastern US.
