Shell plc (NYSE: SHEL) Expands Through Major Acquisitions and New Energy Agreements

Font: Financial Modeling Prep  • Sep 03, 2026

• Shell plc (NYSE: SHEL) completed its acquisition of ARC Resources Ltd. (TSX: ARX), substantially expanding its operations in Canada’s Montney basin.
• Shell agreed to acquire the remaining 67% stake in Tri Star Energy, which would give it full ownership of 320 retail sites and supply agreements with 552 dealer-owned locations.
• Shell and Chevron Corporation (NYSE: CVX) signed a non-binding agreement covering the potential acquisition of production rights in Ghana.

Shell plc (NYSE: SHEL) is a global energy company involved in oil and gas exploration, production, refining, liquefied natural gas, power generation, and fuel retailing.

On September 2, 2026, Shell completed its acquisition of ARC Resources Ltd. (TSX: ARX) after receiving the required shareholder, court, and regulatory approvals. The transaction had an enterprise value of approximately $16.5 billion and immediately added about 370,000 barrels of oil equivalent per day of liquids and natural gas production. Shell expects the acquisition to support a production compound annual growth rate of approximately 4% through 2030, compared with 2025 levels. 

Shell is also expanding its U.S. retail operations by acquiring the remaining 67% of Tri Star Energy. Shell already owns a 33% interest in the company, and the transaction is expected to close by the end of 2026. Once completed, the deal will give Shell full ownership of 320 fuel and convenience stores in Tennessee and surrounding states, along with supply agreements covering 552 dealer-owned locations. 

In Ghana, Shell and Chevron Corporation (NYSE: CVX) signed a non-binding memorandum of understanding with Ghana National Petroleum Corporation. The agreement establishes a framework for negotiating the potential acquisition of production rights in the South Deepwater Tano Cape Three Points oil and gas block. Any transaction remains subject to final negotiations and regulatory approvals. 

As of September 3, 2026, Shell’s American depositary shares traded at approximately $92.33. The company had a market capitalization of roughly $256 billion, while its shares had traded between approximately $68.62 and $94.90 over the preceding 52 weeks.