EQT to Acquire Range Resources in All-Stock Merger Valued at Over $50 Billion

EQT (EQT) has entered into an agreement to acquire Range Resources (RRC) through an all-stock transaction, a move that will create a natural gas powerhouse valued at more than $50 billion. Under the terms of the deal, Range Resources shareholders will receive 0.987 shares of EQT for every share they hold. The merger aims to leverage massive scale, combining production capabilities of over 9 billion cubic feet equivalent per day with extensive midstream infrastructure and three decades of inventory. The combined entity expects to achieve approximately $325 million in annual cost savings, lowering its free cash flow breakeven price to under $2 per million British thermal units. This strategic consolidation positions the company to capitalize on rising global demand for liquefied natural gas (LNG) in Asia and Europe, as well as the increasing domestic need for natural gas-powered electricity to support artificial intelligence data centers. The transaction is expected to close in the first quarter of 2027.

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