Shell plc has entered into a definitive agreement to acquire ARC Resources, an energy company focused on the Montney shale basin in British Columbia and Alberta, Canada.
“ARC is a high-quality, low-cost and top quartile low carbon intensity producer operating in the Montney shale basin that complements our existing footprint in Canada and strengthens our resource base for decades to come.
“We are accessing uniquely positioned assets and welcoming colleagues that bring deep expertise which, combined with Shell’s strong basin level performance, provides a compelling proposition for shareholders.” said Shell’s chief executive officer, Wael Sawan.
“This establishes Canada as a heartland for Shell while furthering our strategy to deliver more value with less emissions.”
“This combination is a great opportunity for ARC to realise value for our shareholders and continue to benefit from Shell’s success in the future. ARC is combining with a company that has a global portfolio of best-in-class assets,” said ARC president and CEO, Terry Anderson.
“I’m excited that ARC’s assets and world class people will play an important role in helping Shell to further strengthen Canada’s resource landscape whilst also providing the secure energy that the world needs.”
Shell announces agreement to acquire Canadian energy company
