EQT to acquire Range Resources in all‑stock deal creating $50 bn gas champion
EQT Corporation announced an all‑stock acquisition of Range Resources valued at $13 billion, with each Range share exchanged for 0.987 EQT shares. The combined company will own about 73% of the new entity, produce over 9 billion cubic feet of gas per day and hold more than 30 years of inventory across nearly three million net acres. The transaction is slated to close in the first quarter of 2027, subject to regulatory and shareholder approvals. EQT expects the deal to raise its Appalachian gas demand outlook to more than 25 billion cubic feet per day and generate roughly $20 billion of free cash flow over the next five years.
Why it matters
The merger creates the largest U.S. natural‑gas producer, expanding market access and LNG capacity, which could enhance cash‑flow generation for shareholders (the company projects $20 billion over five years). Analysts note the consolidation may improve capital discipline as demand rises from LNG and data‑center power needs.
Key facts
- 1EQT will acquire Range in an all‑stock transaction valued at $13 billion. pgjonline.com
- 2Each outstanding share of Range will be exchanged for 0.987 shares of EQT common stock. rigzone.com
- 3EQT shareholders will own approximately 73% of the combined company, while Range shareholders will own about 27%. rigzone.com
- 4The combined entity will have net output of more than 9 billion cubic feet equivalent per day. rigzone.com
- 5The transaction provides over 30 years of inventory across nearly three million net acres. rigzone.com
- 6Closing is expected in the first quarter of 2027, subject to regulatory and shareholder approvals. rigzone.com
Open questions
- Deal value is reported as $13 billion in material 2 and as “a bit under $14 billion” in material 1, creating a conflict.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.