Shell (SHEL) has completed its acquisition of ARC Resources after receiving all required shareholder, court and regulatory approvals, the company said late Wednesday.

The deal adds approximately 370,000 barrels of oil equivalent per day in liquids and gas production, it said.

ARC shareholders received 8.20 Canadian dollars ($5.94) in cash and 0.40247 Shell shares per ARC share, it said. The transaction values ARC's equity at approximately $13.9 billion and enterprise value at $16.5 billion, including $2.5 billion of assumed net debt and leases, it added.

The company said it expects the deal to generate double-digit returns and be accretive to free cash flow beginning in 2027.