Shell plc has completed its $16.5 billion acquisition of ARC Resources Ltd., increasing production by 370,000 barrels of oil equivalent per day and targeting 4% annual growth through 2030. Separately, Shell has agreed to acquire the remaining 67% of Nashville-based Tri Star Energy from The Parman Corporation, Kimbro Oil Company and their subsidiaries, taking its ownership from 33% to 100%. The Tri Star transaction includes 320 fuel and convenience retail sites in Tennessee and surrounding states, plus fuel-supply agreements covering another 552 dealer-owned locations. Financial terms were not disclosed, and the deal is expected to close by the end of 2026, subject to regulatory approval and customary closing conditions. After completion, Tri Star will be operated by Texas Petroleum Group, a wholly owned unit of Shell Mobility & Convenience US. Shell expects the combined business to include nearly 550 company-owned convenience retail locations and supply agreements with around 650 dealer-owned sites across the southern United States. Tri Star, founded in 2000, operates the Twice Daily, Sudden Service and Little General convenience-store brands and owns White Bison Coffee. Its wholesale fuel operation gives Shell greater exposure to fuel distribution and higher-margin convenience and food-and-beverage sales. The acquisition continues Shell’s multiyear expansion of directly operated U.S. retail assets, following its 2022 acquisition of the Landmark/Timewise network and its 2024 purchase of 45 locations in New Mexico through Brewer Oil Company’s retail division. Shell said at its 2025 Capital Markets Day that it planned to allocate 80% of Mobility cash capital expenditure to 10 priority markets, including the United States, while pursuing growth in convenience retail and other higher-value customer offerings. Shell said the Tri Star investment is expected to generate an internal rate of return above the hurdle rate used for its marketing business, but did not provide an acquisition price or detailed financial projections.