Rigzone reported on October 28, 2026, that EQT agreed to purchase Range Resources in a stock-only transaction, creating a business with a projected enterprise value above $50 billion. Each Range share would convert into 0.987 EQT shares. Existing EQT shareholders would hold approximately 73% of the combined company, with Range shareholders holding the remaining 27%.
The companies anticipate net output exceeding 9 billion cubic feet equivalent daily, with nearly 3 million net acres, drilling inventory lasting over 30 years, and more than 3,700 miles of midstream infrastructure. They expect $325 million in annual synergies within two years and see longer-term potential above $600 million. Based on recent futures prices, they project approximately $20 billion in cumulative free cash flow over five years.
Enverus analyst Andrew Dittmar said the deal would broaden EQT’s natural gas liquids exposure and support supply contracts with data centers and liquefied natural gas markets. The companies anticipate completion in the first quarter of 2027, subject to regulatory clearance, approval from both shareholder groups, and other standard requirements.
Source: Rigzone
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