Shell to acquire Canadian shale firm ARC Resources for $13.6B, its largest deal in a decade

Shell has agreed to purchase Canadian shale company ARC Resources for $13.6 billion, marking its biggest acquisition since 2016. The deal will boost Shell's production by adding 370,000 oil-equivalent barrels per day amid rising oil prices. This move strengthens Shell's position in the energy market as it expands its production capabilities. The acquisition is expected to close after regulatory approvals and customary closing conditions are met.