ARC Resources reported lower second-quarter earnings even as production climbed 9%. Net income fell to C$352.7 million, or C$0.62 per diluted share, from C$396.1 million, or C$0.68 per share, a year earlier. Funds from operations rose to C$816.3 million, or C$1.44 per share, from C$682.1 million, or C$1.17 per share. Average production reached 390,465 barrels of oil equivalent per day, with the company realizing an average natural gas price of C$2.52 per Mcf, which was C$1.01 above the AECO 7A Monthly Index price. The company also said approvals are progressing for Shell's proposed acquisition of ARC Resources in a cash-and-share deal valued at about C$22 billion including assumed net debt, with shareholder approval secured on July 14 and closing expected in the third quarter of 2026. ARC maintained its 2026 guidance, reaffirming capital spending of C$1.8 billion to C$1.9 billion and full-year production of 405,000 to 420,000 barrels of oil equivalent per day.
Shell plcShell's acquisition of ARC is progressing, with approvals and shareholder approval secured.
Q2 net income fell to C$352.7M from C$396.1M year-over-year.