EQT Announces Strategic Acquisition of Range Resources, Creating America's Undisputed Natural Gas Champion
EQT and Range Resources signed a definitive merger agreement under which EQT will acquire Range in an all-stock deal, exchanging 0.987 EQT shares per Range share and creating a combined company with a pro forma enterprise value over $50 billion. The combination creates America's largest vertically integrated natural gas producer with over 9 Bcfe/d of net production, more than 30 years of inventory, and $325 million of base annual synergies within two years (pathway above $600 million long-term).
Key figures
- Deal Value Usd
- >$50 billion pro forma enterprise value
- Shares Offered
- 0.987 EQT shares per Range share
- Net acres
- nearly 3 million
- Fcf breakeven
- <$2 per MMBtu
- Expected close
- Q1 2027
- Net production
- >9 Bcfe/d
- Inventory years
- >30 years
- Midstream miles
- >3,700 miles
- Long term synergies
- >$600 million
- Base annual synergies
- $325 million
- Pro forma ebitda note
- not stated
- Eqt pro forma ownership
- ~73%
- Five year cumulative fcf
- ~$20 billion
- Range pro forma ownership
- ~27%
AI analysis
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