EQT Corp. (EQT) and Range Resources Corp. (Range) have entered into a definitive merger agreement, under which EQT will acquire Range in an all-stock transaction. The combined company will have about 9 bcf/d (254.8 x 106 m3/d) of net production and roughly 30 years of inventory across nearly 3 million net acres (1.2 million ha) in addition to 3700 miles (5954 km) of critical midstream infrastructure.
“This transaction brings together two of the highest-quality, longest-duration asset bases in North America and creates a company uniquely positioned for the next era of natural gas,” said EQT President and Chief Executive Officer Toby Z. Rice. “As the lowest-cost natural gas producer in the industry, supported by multiple decades of high-quality inventory, the combined company will offer exceptional resilience through commodity cycles while maintaining significant upside to strengthening natural gas fundamentals.
The transaction is expected to close during the first quarter of 2027, subject to the receipt of required regulatory approvals and clearances, approval of the transaction by shareholders of both EQT and Range, and the satisfaction of other customary closing conditions. Upon the closing of the transaction, two representatives from Range, including 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.
