The integrated US gas group EQT has agreed to acquire fellow Appalachian Basin producer Range Resources in a USD13bn deal that would create a US natural gas company with a pro forma enterprise value exceeding USD50bn (EQT press release, 26/10/2026). EQT's existing shareholders would own approximately 73% of the combined group, and Range's shareholders would hold the remaining 27%.
The transaction is expected to establish what EQT describes as "America’s largest and only vertically integrated natural gas producer", according to the company’s press release. According to EQT, the combined company would deliver net production of more than 9 bcfe/d (93 bcm/year), hold nearly 3 million net acres and have an inventory of drilling opportunities spanning more than 30 years. Its assets would also include over 3,700 miles (6,000 km) of midstream infrastructure.
The deal is expected to close in the first quarter of 2027, subject to regulatory approvals and clearances, shareholder approval from both companies and the fulfilment of other customary closing conditions.