EQT Corp Acquires Range Resources in $50 Billion Deal
EQT Corp announced an all-stock acquisition of Range Resources to create the largest vertically integrated natural gas producer in the United States.
EQT Corporation announced an all-stock acquisition of Range Resources on Monday in a transaction valued at more than US$50 billion, including debt. The deal values Range Resources at approximately US$12.83 billion, offering its shareholders 0.987 EQT shares for each share held, which represents a 20.6 per cent premium over the closing price from the previous Friday.
The merger establishes the largest vertically integrated natural gas producer in the United States. The combined entity will control nearly 3 million net acres in the Appalachian Basin and produce over 9 billion cubic feet of natural gas equivalent per day. EQT shareholders will own 73 per cent of the new company, while Range investors will hold the remaining 27 per cent.
EQT executive management will lead the combined company from its headquarters in Canonsburg, Pennsylvania. As part of the agreement, Range CEO Dennis Degner will join the EQT board of directors. The transaction is expected to close in the first quarter of 2027, pending regulatory and shareholder approvals.
