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Canonsburg|EQT|Range Resources|United States|Data Centres|Midstream Infrastructure|Natural Gas|Dennis Degner|Pennsylvania|Appalachian Basin
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canonsburg|eqt|range-resources|united-states|data-centres|midstream-infrastructure|natural-gas|dennis-degner|pennsylvania|appalachian-basin

EQT to buy Range Resources in over $50bn deal

26th October 2026

By: Reuters

  

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EQT Corporation said on Monday it would acquire Range Resources in an all-stock deal valued at more than $50-billion, including debt, creating what the companies called the "largest vertically integrated natural gas producer" in the US.

Range Resources shareholders will receive 0.987 EQT Corp shares for each share held, valuing the deal at about $12.83 billion, according to a Reuters calculation based on Range Resources' 233.68-million shares outstanding, per LSEG data.

The implied offer price of $54.91 per share is about 20.6% above Range Resources' last closing price on Friday.

Shares of EQT were down 4.6% in premarket trading, while those of Range Resources were up 10.1%.

Growing demand for natural gas from data centres has improved the outlook for US natural gas, prompting producers to pursue bigger outputs, boost deeper drilling inventories as well as strengthen marketing capabilities.

The combined company will produce more than 9-billion cubic feet of natural gas equivalent per day and control nearly 3-million net acres in the Appalachian Basin. It will also own more than 30 years of drilling inventory and about 3 700 miles of midstream infrastructure.

EQT shareholders will own about 73% of the combined company, while Range investors will hold the remaining 27%. The transaction is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.

Upon the closing of the transaction, two representatives from Range, including CEO Dennis Degner, will join EQT's board of directors. EQT's executive management team will lead the combined company with headquarters remaining in Canonsburg, Pennsylvania, the companies said.

EQT said the transaction would improve its free cash flow breakeven to below $2 per million British thermal units and generate about $325-million of annual savings within two years through corporate, operational and marketing efficiencies.

Edited by Reuters

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