EQT to buy Range Resources for about $12.8B, creating the top US gas producer

EQT agreed to acquire Range Resources in an all-stock deal, giving Range holders 0.987 EQT shares per share. Reuters valued the equity at about $12.83 billion, or $54.91 a share, a roughly 20.6% premium. Closing is expected in Q1 2027 pending regulatory and shareholder approvals, and two Range representatives will join EQT's board.

Why it matters: The combination creates the largest US natural gas producer; Range shares rose 11% while EQT fell 8% on the news.