# EQT and Range Resources agree to combine in all-stock merger

> The proposed combination would create a natural-gas producer with more than $50 billion of pro forma enterprise value and $325 million in targeted annual synergies.

Source page: https://stoqly.net/news/eqt-range-resources-merger-natural-gas

- **Published:** 2026-11-01T00:06:51+00:00
- **Section:** In the news
- **Company:** EQT (EQT), https://stoqly.net/companies/eqt.md

EQT and Range Resources agreed to combine in an all-stock merger that would create a natural-gas producer with more than $50 billion of pro forma enterprise value. The companies announced the agreement on October 26 after signing it on October 25.

Under the agreement, each Range share would be exchanged for 0.987 EQT shares, with cash paid for fractional shares. The combined ownership would be approximately 73% for existing EQT shareholders and 27% for Range shareholders.

The companies project $325 million of base annual synergies within two years. The transaction remains subject to shareholder approval, regulatory and HSR clearance, an EQT registration statement and other customary closing conditions.

The deal would consolidate two sizable U.S. natural-gas portfolios at a time when power demand and infrastructure investment are reshaping gas-market expectations. The stated synergy target is an operating objective, not a guaranteed outcome, and the all-stock structure leaves both shareholder groups exposed to EQT’s share-price performance before closing.

**Why it matters** The transaction is large enough to reshape the U.S. gas producer landscape, while its value, dilution and closing risk will depend on EQT’s share price and regulatory review.

- Exchange ratio: 0.987 EQT shares
- EQT ownership: ~73%
- Base synergies: $325M
- Expected closing: Q1 2027

- [EQT Form 8-K and merger agreement, filed October 26, 2026](https://www.sec.gov/Archives/edgar/data/33213/000121390026112242/ea0309601-8k425_eqtcorp.htm)
- [Range Resources Form 8-K and joint announcement, filed October 26, 2026](https://www.sec.gov/Archives/edgar/data/315852/000119312526431025/d161989d8k.htm)
- [EQT and Range investor presentation, October 26, 2026](https://s205.q4cdn.com/630272887/files/doc_downloads/2026/EQT-and-Range-Combine-to-Create-America-s-Natural-Gas-Champion.pdf)

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Written by Stoqly from SEC filings and market data. For information only — not investment advice or a recommendation to buy, sell or hold any security.