EQT agrees to buy rival gas producer Range Resources in an all-stock deal

Pro forma enterprise value

$50B+ US$, combined company

The combined company would have an enterprise value of more than US$50 billion. Each Range share will be exchanged for 0.987 EQT shares.

Ownership after the deal

73 % EQT shareholders 27 % Range shareholders

EQT's shareholders would own about 73 per cent of the combined company and Range's about 27 per cent. The deal is expected to close in the first quarter of 2027, pending regulatory and shareholder approvals.

Background

The companies expect US$325 million in annual savings within two years. Both are based in the Appalachian Basin, and the combined firm would be headquartered in Pennsylvania.