ARC Resources Q2 Profit Falls; Production Rises 9%
(RTTNews) - ARC Resources Ltd. (ARX.TO) on Monday reported lower second-quarter earnings, while production increased.
Second-quarter net income declined 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 increased 9% year over year to 390,465 barrels of oil equivalent (boe) per day, consisting of 61% natural gas and 39% crude oil and liquids. The company realized an average natural gas price of C$2.52 per Mcf, C$1.01 above the average AECO 7A Monthly Index price.
ARC said approvals continue to progress for Shell plc's proposed acquisition of the company in a cash-and-share transaction valued at about C$22 billion, including assumed net debt. Shareholders approved the transaction on July 14, and the company continues to expect the deal to close in the third quarter of 2026.
The company 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 boe per day.
