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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Shell to buy Canadian shale producer ARC Resources for $16.4bn

Shell logo
Shell said that the deal will boost production growth from 1% a year to 4% and add 2bn barrels to its proven and probable reserves. Photograph: Piroschka Van De Wouw/Reuters

Shell has agreed to buy Canadian shale producer ARC Resources for $16.4bn, five years after Europe’s biggest gas and oil producer sold its US shale business.

The deal, which includes $13.6bn in cash and shares and taking on ARC’s $2.8bn debt, would be Shell’s biggest acquisition since it bought BG Group a decade ago.

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