- The transaction gives Shell immediate exposure to ARC's Montney operations in British Columbia and Alberta and supports roughly 4% production CAGR through 2030 versus 2025.
- ARC shareholders receive CAD $8.20 in cash and 0.40247 Shell ordinary shares per ARC share; the deal implies approximately US$13.9 billion of equity value and US$16.5 billion of enterprise value.
- Shell is funding the equity value with US$3.3 billion in cash and US$10.6 billion in new shares, and expects double-digit returns and free-cash-flow-per-share accretion from 2027.
Quotes
“The acquisition increases Shell's exposure to long-duration, low-cost liquids production.”