Shell Acquisition of Arc Resources in Montney Shale Basin

planned

Shell has entered into a definitive agreement to acquire Arc Resources, a company with key assets in the Montney shale basin in British Columbia and Alberta, Canada. The acquisition will increase Shell's production growth rate and supports its aim of sustaining liquids production towards 2030 and beyond. The transaction combines Arc's 1.5 million net acres with Shell's 440,000 net acres in the Montney formation and adds 2 billion barrels of oil equivalent of proven plus probable reserves. The deal is expected to close in the second half of 2026, subject to approvals.