business / news / / The Guardian
Shell has agreed to buy Canadian shale producer ARC Resources for $16.4bn.
Shell is acquiring ARC Resources for $16.4bn, its biggest deal since BG Group in 2015.
KEY POINTS
- The ARC Resources acquisition will increase Shell's production growth rate from 1% to 4% annually.
- The deal adds about 370,000 barrels per day and 2bn barrels to Shell's reserves.
- This acquisition marks Shell's strategic return to North American shale after selling Permian assets in 2021.
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