EQT to buy Range Resources in nearly $13 billion all-stock deal

EQT Corp. said on October 26, 2026 that it had agreed to acquire Range Resources in an all-stock transaction worth close to $13 billion, a combination that would create the largest natural gas producer in the United States, TribLIVE.com reported.

The merged company would carry a value above $50 billion. Each Range share is to be swapped for 0.987 EQT shares, leaving current EQT investors with 73% of the company and Range investors with 27%. The deal is expected to be completed in early 2027 once regulators sign off. The combined business will be run from EQT's campus in Washington County, Pa., near Canonsburg, and two Range executives, among them chief executive Dennis Degner, are to take seats on EQT's board.

Range, a Texas-based driller with offices in Washington County, holds close to 1 million acres in Pennsylvania and has a workforce of roughly 500, according to Forbes. EQT controls about 1.75 million acres across Pennsylvania, West Virginia and Ohio.

Range shares rose 17.6% on October 26 to $53.56, while EQT slipped 1.4% to $54.85.

EQT has positioned itself as a supplier to data center projects in Western Pennsylvania, including the 4.4-gigawatt Homer City development. In a report released the same day, the company estimated that close to 40% of its gas would be sold locally and in the Northeast.

This story was first reported by TribLIVE.com.