EQT announced on October 26, 2026, that it had agreed to purchase Range Resources through a share exchange worth approximately $12.83 billion. Range investors would receive 0.987 EQT shares for every share they own, implying a value of $54.91 per share, or 20.6% above Range’s previous closing price. The combined company would have an enterprise value exceeding $50 billion, including debt.
Together, the Appalachian Basin producers would have daily output above 9 billion cubic feet of natural gas equivalent, nearly 3 million net acres and enough drilling locations for more than three decades of activity. Their network would include over 3,700 miles of midstream infrastructure. The combination comes as producers seek to serve growing gas demand from data centers and strengthen their production and marketing capabilities.
Completion is anticipated between January and March 2027, pending shareholder and regulatory consent. Ownership would be split approximately 73% for existing EQT investors and 27% for Range shareholders. EQT projects annual savings of about $325 million within two years by combining administrative functions, field operations and commodity marketing. Its management would run the business from Canonsburg, Pennsylvania, with two Range representatives joining EQT’s board.
Source: U.S. News & World Report
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