EQT agrees Range Resources merger to create a gas producer valued above $50 billion

EQT ($EQT) and Range Resources ($RRC) signed an agreement under which each Range share would be exchanged for 0.987 EQT shares. The combined business would have an enterprise value exceeding $50 billion; this is the value of the enlarged group, rather than the consideration paid for Range alone. Existing EQT investors would own approximately 73%, with Range investors holding 27%.

The companies expect annual base synergies of $325 million within two years. Together, their assets would produce more than nine billion cubic feet of gas equivalent daily and include over 3,700 miles of midstream infrastructure. Combining production and transport could improve costs and support long-term supply agreements. Completion is targeted for the first quarter of 2027 and requires shareholder approvals at both companies, regulatory clearance and other conditions. The savings remain projections.

Sources:

• PR Newswire