Shell to Buy ARC Resources in $16.4 Billion Deal to Expand Canada Output

High gas prices are listed at Shell gas station in Los Angeles, Calif., on March 9, 2026. Frederic J. Brown / AFP via Getty ImagesShell is set to buy ARC Resources in a move that would expand the British oil major’s production in western Canada.The two companies announced on April 27 that the transaction, which includes assumed net debt and leases, is valued at C$22 billion, or about US$16.4 billion.