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Shell snaps up Canadian energy firm ARC for $16.4bn in bid to boost production.
Shell will acquire Canadian shale producer ARC Resources for $16.4 billion using cash and shares.
KEY POINTS
- The deal adds ARC’s 1.5 million net acres of gas fields to Shell’s 440,000 in the Montney region.
- Shell expects the acquisition to enable 1.4 million barrels per day production by 2030.
- Both Shell’s and ARC’s boards unanimously supported the transaction, pending shareholder and regulatory approval.
- The acquisition is projected to add 370,000 barrels per day and deliver double digit returns for Shell.
COMPANIES
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