Shell is making its biggest acquisition in more than a decade, agreeing to buy Canadian producer ARC Resources for $13.6 billion in a deal that deepens its bet on natural gas and reinforces Canada as a strategic growth hub, Bloomberg writes.
The transaction expands Shell’s resource base, supports long-term production growth and strengthens supply for LNG Canada, the export project positioned to connect Canadian gas to Asian markets. It also marks a sharper turn toward core oil and gas assets under CEO Wael Sawan, who has been under pressure to bolster reserves and improve investor returns.
By combining ARC’s low-cost shale gas and liquids production with Shell’s existing Canadian footprint, the deal is expected to lift production growth through 2030 and sustain liquids output beyond that.
The acquisition, the largest Canadian oil and gas transaction in years, also signals growing confidence in Canada’s regulatory and export outlook as major producers position for long-term demand. The deal is expected to close in the second half of 2026, pending approvals.
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