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Shell signed a deal to acquire Alberta-based oil and natural gas producer ARC Resources Ltd. in a $22 billion deal, including assumed debt.
Shell's ARC Resources acquisition prevents it from running out of supply within 5.3 years.
KEY POINTS
- ARC was a discounted target due to underperformance of its Attachie project.
- The deal immediately increases Shell's oil equivalent production by roughly 14 to 15 percent.
- Post-acquisition, Shell aims to boost ARC's output by 100,000 barrels of oil equivalent per day.
- Recent attacks on Qatar's LNG infrastructure make Canadian LNG more attractive as a stable Asian supply route.
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