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Shell has agreed to buy Canadian energy company ARC Resources in a deal valued at $16.4 billion.
Shell is acquiring ARC Resources for $16.4 billion, including $2.8 billion in net debt.
KEY POINTS
- This acquisition boosts Shell's output by 370,000 barrels of oil equivalent per day.
- Shell gains 2 billion barrels of reserves and expects double-digit returns with higher cash flow per share from 2027.
- The deal lets Shell raise its annual production growth target for the decade from 1% to 4%.
- ARC's assets support Shell's LNG Canada project, providing access to Asian LNG markets more quickly.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →