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EQT to Acquire Range Resources in $13B Deal to Create Top US Gas Producer

Updated 6:08 PM ET · 1:20 PM ETConfirmed

World Desk

In Short: EQT and Range Resources announced an all-stock deal on October 26, 2026, to create the largest natural gas producer in the United States.

EQT Corporation and Range Resources announced on October 26, 2026, an all-stock deal to merge, creating the largest natural gas producer in the United States with a pro forma enterprise value exceeding $50 billion.

The deal values Range Resources at approximately $12.8 billion, with each Range share to be exchanged for 0.987 EQT shares.

The combined company will have net production exceeding 9 billion cubic feet equivalent per day, more than 30 years of drilling inventory, and nearly 3 million net acres.

The merger is expected to strengthen EQT’s position across the natural gas value chain, making it the largest vertically integrated natural gas producer in the United States.

In premarket trading, Range shares rose 9.7% to $49.94, while EQT shares fell 7.4% to $51.52.

The deal is part of a broader trend of energy sector consolidation, with majors and large independents acquiring scale, inventory, and strategic infrastructure.

EQT CEO Toby Rice said, “We share EQT’s vision for the future of our industry and their convention that the Appalachian Basin remains the crown jewel of the world’s natural gas resources.”

The combined company will have substantial operations in the Appalachian Basin, a region central to the energy economy of states like West Virginia.

Chris Wright, the US Secretary of Energy, noted that the deal aligns with the growing demand for natural gas, particularly as AI energy demand pushes the development of new resources.

The merger is expected to reshape the competitive landscape for natural gas producers, with existing EQT shareholders holding approximately 73% of the combined company and Range Resources investors owning the remaining 27%.

What this adds

Background

What's confirmed

• EQT just agreed to buy Range Resources in an all-stock deal that would create a $50 billion Appalachian gas giant, and the early market reaction tells a complicated story about who wins and who waits.
• Artificial intelligence (AI) data center power demand is pulling structural load into Appalachia and the Gulf, with some producers now treating 10 billion cubic… Energy sector consolidation has accelerated through 2026 so far, with majors and large independents acquiring scale, inventory, and strategic infrastructure.
• TradingView reported an exchange ratio of 0.987 EQT shares for each Range share.
• Range gained 34.5% over the past year and 42.7% year to date, while EQT lost 3.0% this year.
• It then signed a 10-year supply deal for CPV’s 2-GW Shay Energy Center and an LNG offtake contract.
• A one-year $1,000 stake became $1,344.80 in Range versus $973.40 in EQT and $1,134.80 in the S&P 500.
• In premarket trading, Range shares rose 9.7% to $49.94, and EQT fell 7.4% to $51.52.
• EQT ( NYSE:EQT | EQT Price Prediction ) announced on Oct. 26, 2026, that it will acquire Range Resources ( NYSE:RRC ) in an all-stock deal.
• 25, 2016, EQT gained 61.04% and Range 50.82%, against 255.93% for the S&P 500.
• While oil prices have been range-bound for much of this year, the interesting area that many energy investors are turning their attention to is natural gas, and with good reason.
• Citybiz reported that the deal values the combined company at over $50 billion.
• EQT Swallows Range Resources in $50B Merger: Biggest M-U News Ever!

What's still developing

• This is particularly critical at a time that the AI energy demand boom is pushing the private and public sector to develop new energy resources as fast as possible, with diminished regard for public wellbeing, environmental impact, and oversight and safety measures.
• BLM Moves to Fast-Track Oil Permits in Alaska Petroleum Reserve Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… The United States is the largest producer of nuclear power in the world, solely responsible for about one-third of global output.
• Chris Wright cited a major oil investment in Venezuela, reported by the press as linked to Continental Resources.
• Chris Wright, the US Secretary of Energy, said on September 16, 2026, during an interview with Fox News, that an American oil and gas producer would unveil a major investment in Venezuela that same day.
• Continental Resources had not, however, published any statement, contract, or project description by the close of verification, which stopped at 7 p.m.
• The maximum amount of this plan, however, represents neither a budgetary commitment from Washington, nor an allocation attributed to Continental Resources, nor a consolidated total of all foreign projects envisioned in Venezuela.
• Continental Resources now has a visible international strategy in Argentina and Turkey.
• Shares fell 2.66% as second-quarter revenue fell 29.2% on lower gas prices.
• At the same time, arbitrage-focused traders are typically shorting EQT stock while purchasing Range Resources shares, a pattern that tends to weigh on the acquirer’s price in the short term.
• Pittsburgh-area producer EQT, headquartered in Canonsburg, Pennsylvania, would acquire Fort Worth, Texas-based Range Resources as natural gas demand grows in the Appalachian Basin and across domestic and international markets.
• Here’s what that means for your heating bill, your power bill, and EQT’s all-stock deal for Range Resources.
• The companies announced the agreement Monday, Oct. 26.

Sources

• 247Wallstlink
• ChemAnalystlink
• Crude Oil Prices Today | OilPrice.comlink
• Energy News Beatlink
• Investor's Business Dailylink
• Marcellusdrillinglink
• TradingPedialink
• WV Newslink
• grafa.comlink
• Thecanarylink
• Ogjlink
• Energynewslink
• Fortunelink
• WarpBeat — background on EQT to Acquire Range Resources in $13B Deal to Form Top US Gas Producer link