Business · Companies · 2 hrs ago
EQT to acquire Range Resources in all-stock deal valued above $50 billion
EQT will acquire Range Resources in an all-stock deal valued at more than $50 billion, including debt.
Range shareholders will receive 0.987 EQT shares for each share they own, and EQT shareholders will own about 73% of the combined company.
The companies say the combined business will produce more than 9 billion cubic feet of gas equivalent a day and hold nearly 3 million acres in the Appalachian Basin.
Rising demand from data centres is improving the outlook for US natural gas, encouraging producers to expand output and strengthen their businesses.
EQT says the deal could bring about $325 million in annual savings within two years.
The combined company will be led by EQT and remain headquartered in Canonsburg, Pennsylvania.
The deal is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.
EQT said it would acquire Range Resources in an all-stock deal valued at more than US$50 billion, including debt.
The companies said the transaction would create the largest vertically integrated natural gas producer in the United States.
Range shareholders will receive 0.987 EQT shares for each share they hold, valuing the deal at about US$12.83 billion.
The combined company is expected to produce more than 9 billion cubic feet of natural gas equivalent per day and control nearly 3 million net acres in the Appalachian Basin.
The deal is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.
- Who
- EQT Corp. and Range Resources.
- What
- EQT plans to acquire Range in an all-stock deal valued at more than US$50 billion, including debt.
- When
- Announced on Monday, October 26, 2026. The deal is expected to close in the first quarter of 2027.
- Where
- The combined company will be headquartered in Canonsburg, Pennsylvania, and its assets include the Appalachian Basin.
- Why
- Growing demand for natural gas from data centres has improved the outlook for U.S. natural gas. EQT said the deal would improve free cash flow break-even and generate annual savings.
This story does not have two clearly opposing sides.
EQT said it would acquire Range Resources in an all-stock deal.
The transaction is expected to close, subject to regulatory and shareholder approvals.
- Deal value
- More than US$50 billion, including debt
- Exchange ratio
- 0.987 EQT shares for each Range share
- Implied offer price
- US$54.91 per Range share
- Combined production
- More than 9 billion cubic feet of natural gas equivalent per day
- Combined acreage
- Nearly 3 million net acres in the Appalachian Basin
- Expected annual savings
- About US$325 million within two years
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largest vertically integrated natural gas producer