EQT Announces Strategic Acquisition of Range Resources, Creating America's Undisputed Natural Gas Champion
Key Highlights
- ➤EQT to acquire Range Resources (RRC) in an all-stock transaction valued above $50 billion enterprise value
- ➤Combined company targets over 9 Bcfe/d production and more than 30 years of inventory
- ➤Transaction expected to generate $325 million annual synergies within two years
- ➤EQT shareholders expected to own 73% and Range shareholders 27% of combined company
- ➤Deal expected to close in first quarter of 2027, pending shareholder and regulatory approvals
Expert Statements
Toby Z. Rice, President and CEO of EQT
“This transaction brings together two of the highest-quality, longest-duration asset bases in North America and creates a company uniquely positioned for the next era of natural gas. As the lowest-cost natural gas producer in the industry, supported by multiple decades of high-quality inventory, the combined company will offer exceptional resilience through commodity cycles while maintaining significant upside to strengthening natural gas fundamentals. Additionally, our expanded resource base solidifies EQT as the operator of choice for premium, long-term supply arrangements and provides unique growth optionality underpinned by contractual demand. We believe this combination creates a must-own energy company capable of generating durable, through-cycle free cash flow while compounding value for shareholders for decades to come.”
Dennis L. Degner, President and CEO of Range Resources
“This combination of two highly successful operators with decades of inventory creates opportunities to build long-term value neither could fully realize independently. Our Board of Directors unanimously determined that this transaction will enhance Range shareholders' ability to participate in a constructive long-term natural gas and NGL macro outlook. The combined company will be uniquely positioned to capitalize on increasing demand for natural gas and liquids both domestically and internationally, delivering superior returns for investors. I want to thank our employees, whose hard work, dedication and commitment have positioned us to enter this next chapter of value creation with EQT.”
EQT Announces Strategic Acquisition of Range Resources, Creating America's Undisputed Natural Gas Champion PR Newswire
CANONSBURG, Pa. and FORT WORTH, Texas, Oct. 26, 2026 /PRNewswire/ -- EQT Corporation ("EQT") (NYSE: EQT) and Range Resources Corporation ("Range") (NYSE: RRC) today announced that they have entered into a definitive merger agreement, under which EQT will acquire Range in an all-stock transaction to create America's leading natural gas company with a pro forma enterprise value over $50 billion. The combination brings together two of the highest-quality natural gas assets in North America, creating America's largest and only vertically integrated natural gas producer with leading inventory depth and low-cost structure. Combined with a fortress balance sheet and the largest natural gas marketing platform in the country, these differentiated attributes solidify EQT as the operator of choice in the next era of demand-led natural gas growth.
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