Home / Business and Economy / Shell Buys Canadian Shale Producer ARC for $16.4B
Shell Buys Canadian Shale Producer ARC for $16.4B
27 Apr
Summary
- Shell acquired ARC Resources for $16.4 billion.
- ARC Resources is a top-tier producer in the Montney shale basin.
- The deal strengthens Shell's resource base in Canada for decades.
British oil major Shell has agreed to purchase Canadian energy firm ARC Resources in a substantial transaction valued at $16.4 billion. This acquisition marks a significant expansion of Shell's operations within Canada.
Shell CEO Wael Sawan highlighted ARC Resources as a high-quality, low-cost producer with low carbon intensity. The company operates within the Montney shale basin, an area that complements Shell's existing Canadian footprint.
Sawan further stated that the deal strengthens Shell's resource base, ensuring access to key assets for decades. He welcomed the expertise of ARC's employees, anticipating a strong synergy with Shell's performance in the basin.
