Abu dhabi: Shell plc has entered into a definitive agreement to acquire ARC Resources Ltd., an energy company focused on the Montney shale basin in British Columbia and Alberta, Canada, in a $16.4 billion deal. The acquisition is set to bolster Shell’s strategic position by incorporating an additional 370 kboe/d1 across both liquids and gas, forecasting a 4% production CAGR2 through to 2030, compared to 2025.

According to Emirates News Agency, a company press release highlighted that this deal enhances Shell’s presence in long-duration, low-cost, and top quartile low carbon intensity shale gas and liquids production in Canada’s Montney basin. This strategic move is expected to deliver value for decades, aligning with Shell’s broader goals and commitment to sustainable energy solutions.