multi source·11h ago·6 sources analyzed
Shell to acquire Canadian shale producer ARC Resources for $16.4 billion
Shell has reached an agreement to purchase ARC Resources, marking its largest acquisition in a decade. This move aims to enhance the company's oil and gas output. (sources: theguardian, bloomberg, fortune, marketwatch, shell)
Image: bloomberg
ModernAction Briefing
Shell will acquire ARC Resources for $16.4 billion, reversing its previous strategy of divesting from shale operations. This acquisition is viewed as a significant step for Shell in the North American energy market.
- The acquisition is valued at $16.4 billion.
- This marks Shell's largest acquisition in ten years.
- The deal follows Shell's sale of its US shale business five years ago.
- The Montney region in Canada is becoming increasingly important for oil and gas production.
Why it matters
The acquisition reflects Shell's strategy to increase its presence in the North American energy sector.
No specific legislation identified for action yet.
Top coverage · 6 sources
theguardianShell to buy Canadian shale producer ARC Resources for $16.4bnbloombergShell Agrees to Buy Canada’s Arc Resources for $13.6 BillionfortuneShell reverses course in Canada and buys ARC Resources for $14 billion, doubling down on oil and gasmarketwatchShell to buy Canadian shale company for $14 billion, in what would be oil giant’s biggest acquisition in 10 years