Shell said on September 2 that it had completed its acquisition of ARC Resources Ltd. after the required shareholder, court and regulatory approvals. ARC operates in the Montney basin in British Columbia and Alberta; Shell said the deal adds about 370,000 barrels of oil equivalent per day across liquids and gas.

ARC shareholders received C$8.20 in cash and 0.40247 Shell shares for each ARC share. Shell put the updated equity value at about US$13.9 billion and enterprise value at US$16.5 billion, and expects the deal to add to free cash flow per share from 2027.