Piper Sandler Maintains Neutral on Shell, Raises Price Target to $100

Shell Completes ARC Resources Deal to Drive Long-Term Growth

Shell plc has completed its acquisition of ARC Resources Ltd., adding approximately 370 kboe/d of production and expanding its Montney basin position by over 1.5 million net acres. The deal, valued at $16.5 billion enterprise value and 75% stock-funded, is expected to boost Shell's production CAGR to ~4% through 2030 and generate double-digit returns with free cash flow accretion starting in 2027. The acquisition strengthens Shell's upstream portfolio and complements its LNG Canada operations.

BP Agrees To Sell 50% Stake In Tupinamba Exploration Block To Shell Offshore Brazil; Financial Terms Undisclosed

Shell's Tri Star Deal Deepens Its U.S. Fuel Retail Strategy

Shell plc announced it will acquire the remaining 67% stake in Tri Star Energy, gaining full ownership of 320 fuel and convenience retail sites across the Southeastern United States. The deal, expected to close by end of 2026, aligns with Shell's strategy to focus capital on high-return businesses and will nearly double its company-owned retail footprint in the region to approximately 550 sites.