EQT to Acquire Range Resources in $12.8 Billion Merger

EQT Corporation has officially entered into a definitive agreement to purchase rival Range Resources Corporation in an all-stock transaction valued at approximately $12.8 billion. This strategic move is set to establish the combined entity as the largest and only vertically integrated natural gas producer in the United States. By consolidating their operations, the companies aim to capitalize on rising domestic energy demand, particularly from the growing data center and export sectors.

Under the terms of the merger, which has received unanimous approval from the boards of directors at both firms, Range Resources shareholders will receive 0.987 shares of EQT stock for each share they currently hold. Upon completion of the deal, existing EQT shareholders are expected to retain roughly 73% ownership of the new entity, while Range shareholders will hold the remaining 27%. The transaction carries a pro forma enterprise value exceeding $50 billion.

The merger brings together two major Appalachian operators, resulting in a combined daily production capacity of more than 9 billion cubic feet equivalent. The new organization will control a vast asset base, including nearly 3 million net acres and over 30 years of drilling inventory. Management anticipates significant operational efficiencies, projecting annual cost savings of up to $600 million within two years of the deal's finalization.

Market reaction to the announcement was swift, with shares of Range Resources climbing significantly following the news. The merger is currently subject to customary regulatory reviews and shareholder approval, with the companies targeting a close in the first quarter of 2027. Industry analysts suggest this consolidation positions the firm as a dominant force in the energy sector, well-equipped to meet long-term natural gas requirements.