EQT to Buy Range Resources in $13B Deal to Create Top Gas Producer
The deal would create a combined natural gas company with more than 9 Bcfe/d of production and about $325 million in annual synergies.
- On Monday, EQT Corporation announced a definitive agreement to acquire Range Resources Corporation in an all-stock transaction valued at more than $50 billion, creating the largest vertically integrated natural gas producer in the United States.
- Combining two high-quality asset bases, the merged company will produce more than 9 billion cubic feet of natural gas equivalent per day and control nearly 3 million net acres plus about 3,700 miles of midstream infrastructure across the Appalachian Basin.
- EQT expects about $325 million in annual synergies within two years and projects cumulative free cash flow of approximately $20 billion over five years, improving the company's breakeven to below $2 per million British thermal units.
- With headquarters remaining in Canonsburg, Pennsylvania, EQT shareholders will own approximately 73% of the combined company and Range investors 27%, pending regulatory approval and a first quarter 2027 close.
- Range President and CEO Dennis Degner stated the "combination of two highly successful operators with decades of inventory creates opportunities to build long-term value neither could fully realize independently." Two Range representatives, including Degner, will join the board.
40 Articles
40 Articles
EQT acquires Range Resources to form the nation's largest natural gas producer
CANONSBURG, Pa. — EQT Corporation, the second largest natural gas producer in West Virginia, has announced plans to acquire adjacent Appalachian gas producer, Range Resources Corporation, in an all-stock deal valued at $13 billion. The deal creates the largest natural gas producer in the country with control of nearly three million acres in the Appalachian basin. The purchase still needs regulatory approval. The new company will have a value of …
Two fracking giants strike deal to become America’s biggest gas producer - The Daily Bo Snerdley
A pair of fracking giants announced a deal Monday to combine into America’s largest natural gas producer as households pay more for the fuel. EQT said it will acquire Range Resources by swapping stock, in a deal that would create a company worth more than $50 billion including debt, according to the companies’ joint release. Reuters valued the deal itself at about $13 billion and reported that the combined company would be the country’s top natu…
Range Resources to Join EQT in $50B Appalachian Gas Deal
EQT Corp. announced an agreement to acquire Range Resources (NYSE:RRC) in an all-stock transaction that the companies said would create a larger, vertically integrated Appalachian natural gas platform focused on serving anticipated growth in domestic power generation, pipeline takeaway and internati
Coverage Details
Bias Distribution
- 63% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
