05/05/2026 by Cameron Clarke
UK oil supermajor, Shell Plc, has now completed a $22 billion deal to purchase ARC Resources Ltd, the Canadian energy company.
The new agreement will unite the lead partner in the North American nation’s first operating liquefied natural gas (LNG) project with a prominent producer in a highly profitable shale region of the continent.
Chief executive for Shell, Wael Sawan, commented on the deal, stating that it established Canada as a “heartland” for the global energy company, which had sold off its once significant presence in the oil sands.
Sawan added that Shell was accessing uniquely placed assets while welcoming the expertise of new colleagues to combine with the energy giant’s strong performance at base level to supply its shareholders with a compelling opportunity.
Headquartered in London, Shell is an international player in oil and gas exploration, production and marketing. It also operates the Shell Lubricants brand that features a comprehensive line and serves a multitude of applications and industries. Its advanced products include industrial lubricants like slideway oil, cutting fluid, hydraulic oil, extreme pressure (EP) grease, gas compressor oil and rust preventative.
ARC Resources’ operations are focused on a shale formation known as “The Montney”, which extends through parts of north-western Alberta and north-eastern British Columbia.
Terry Anderson, chief executive for ARC Resources, said that the company would realise the significant value of the shale formation following the transaction, and integrate with a global energy leader with the capability to use the full potential of the business to deliver the future of energy in Canada.
Last year alone, ARC Resources produced 374,000 boe/d (barrels of oil equivalent per day) before royalties.
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