EQT to acquire Range Resources in all‑stock deal creating largest U.S. natural‑gas producer
EQT Corporation and Range Resources have signed a definitive all‑stock agreement valued at $13.7 billion. The combined firm will produce more than nine billion cubic feet equivalent per day and will have a pro‑forma enterprise value exceeding $50 billion. EQT expects its net debt to fall to $5.5 billion by the second quarter of 2026 and to generate $325 million of annual baseline synergies within two years. The transaction is slated to close in the first quarter of 2027, pending regulatory and shareholder approvals.
Why it matters
The merger creates the biggest natural‑gas producer in the United States, giving investors exposure to a vertically integrated, low‑cost operation with significant scale. EQT’s projected debt reduction and synergy targets could improve its balance‑sheet strength and cash‑flow generation, which may be reflected in the combined company’s credit profile.
Key facts
- 1The all‑stock transaction is valued at $13.7 billion. energyintel.com
- 2The pro‑forma enterprise value of the combined company will exceed $50 billion. rigzone.com
- 3Combined daily production will be more than nine billion cubic feet equivalent. rigzone.com
- 4EQT’s net debt is projected to be $5.5 billion by Q2 2026. rigzone.com
- 5Targeted baseline synergies are $325 million per year within two years. rigzone.com
- 6Closing is expected in Q1 2027, subject to regulatory and shareholder approvals. rigzone.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.