Shell's Q1 outlook leans on stronger trading and a lift in Renewables and Energy Solutions earnings, with results due May 7 against a $1.78 EPS consensus.
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Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.) shares rose 0.9% and 0.5% after crude oil prices surged to their highest levels since the US and Israel opened war on Iran.
Shell is entering an 'inflection point' according to CEO Wael Sawan as it faces rising pressure on supply from the conflict in the Middle East and growing demand for energy. Sawan discusses the company's latest M&A and the global energy crunch with Caroline Hyde and Ed Ludlow on “Bloomberg Tech.
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SHEL to acquire ARC Resources in $16.4B deal, boosting Montney footprint, low-carbon output and LNG growth while targeting synergies and higher production.
Shell PLC (LSE:SHEL, NYSE:SHEL) proposed acquisition of Canada's ARC Resources buys the oil major something investors have increasingly looked for: resource life. UBS, in a note, said the transaction struck at a US$13.6 billion equity value (and around US$16.4 billion enterprise value including assumed debt and leases) gives Shell access to low-cost resources outside the Middle East.
Shell (SHEL) reached $86.91 at the closing of the latest trading day, reflecting a -2.49% change compared to its last close.
In a deal that underscores the enduring strategic value of North American shale resources, London-based Shell plc announced Monday that it has agreed to acquire Canadian producer ARC Resources Ltd. in a cash-and-share transaction valued at approximately $13.6 billion in equity, or $16.4 billion on an enterprise-value basis.
Shell plc is executing a multi-year refocusing and profitability improvement initiative. Management anticipates tangible progress expected to become visible to shareholders soon. Continuous goal-setting is embedded in SHEL's strategy.
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The transaction would boost Shell's oil and gas production capabilities