Launch Catch-Up — Agreement Announced October 26 at 6 a.m. Eastern
EQT agreed Monday to acquire Range Resources in an all-stock transaction valued at about $13 billion, combining two major Appalachian natural gas producers as demand grows from exports and power generation.
The companies announced the agreement October 26. Reuters reported the transaction value; the joint release puts the combined enterprise value, which includes debt, above $50 billion. Those figures describe different measures and are not interchangeable.
Range investors would receive 0.987 EQT shares for each Range share. Existing EQT shareholders would hold approximately 73% of the combined company, with Range shareholders owning about 27%, according to the announcement.
Both boards unanimously approved the agreement. Completion is expected in the first quarter of 2027, subject to approval from both companies’ shareholders, required regulatory clearances and other closing conditions. The businesses have signed a deal; the acquisition has not closed.
EQT’s management would lead the combined company from Canonsburg, Pennsylvania. Range chief executive Dennis Degner would be one of two Range representatives joining EQT’s board after completion.
The companies forecast $325 million in annual base savings within two years. That is a management projection, dependent on integration, rather than savings already realized.
The announcement also changes their earnings-call schedule: both canceled October 28 conference calls but still plan to release third-quarter results after the market closes October 27.
Sources: EQT and Range — October 26 joint release: https://ir.rangeresources.com/news-releases/news-release-details/eqt-announces-strategic-acquisition-range-resources-creating Reuters — October 26 transaction report: https://www.reuters.com/business/eqt-buy-range-resources-over-50-billion-deal-2026-10-26/