Shell has agreed to buy Canadian energy company ARC Resources in a $16.4 billion deal, paid for mostly with shares, the British firm said on April 27.
ARC will boost Shell's output of 2.8 million barrels of oil equivalent per day by 370,000 boed.
The acquisition is Shell's biggest since it bought gas giant BG in 2016. It was announced after analysts and the company had forecast Shell needed an acquisition or exploration breakthrough because of its ageing fields.
ARC's production lies near Shell's existing Canadian fields which feed into the LNG Canada plant, in which Shell holds a 40% share and whose liquefied natural gas can reach Asian buyers more quickly than most other North American LNG.
ARC's output is around 60% natural gas and 40% oil liquids.
