EQT Agrees to Acquire Range Resources in All-Stock Energy Merger

By EC Assets · Published 26 October 2026

US energy group EQT Corporation entered into a definitive merger agreement on Monday to acquire Range Resources Corporation. The all-stock transaction creates a North American natural gas giant with a pro forma enterprise value of more than $50 billion. The transaction establishes America's leading natural gas company and positions the combined business as an undisputed champion in domestic natural gas production. The transaction is structured as an all-stock deal under which EQT acquires Range Resources. The definitive merger agreement establishes a pro forma enterprise value exceeding $50 billion for the newly combined natural gas company. Both energy producers are publicly traded on the New York Stock Exchange, with EQT Corporation trading under the ticker symbol EQT and Range Resources Corporation trading under the ticker symbol RRC. The combination brings together two of the highest-quality natural gas assets in North America. The merger creates America's largest natural gas producer in terms of overall output scale. In addition to holding the top production position, the resulting business will operate as America's only vertically integrated natural gas producer, uniting two premier North American resource portfolios into a single company. The $50 billion-plus transaction creates a natural gas producer with a pro forma enterprise value over $50 billion. Range Resources Corporation and EQT Corporation confirmed that their definitive agreement brings together two premier North American gas producers. The all-stock deal values the combined entity at more than $50 billion, establishing what the companies describe as America's undisputed natural gas champion. The mega-merger occurs at a time when Wall Street is betting big against natural gas. Speculators have piled into the biggest bearish natural gas bet in years across the financial markets. Market participants have established these heavy short positions as a mild winter looms, leading traders to position for subdued natural gas consumption across North America. Despite the massive bearish wager across financial markets, the commodity faces specific physical supply risks. Natural gas storage has continued tightening, and the prevailing short positions have become heavily crowded. As a result of this crowded short position and tightening storage, the bearish trade sits just one cold snap away from an ugly reversal. Natural gas producer EQT will report its earnings this Tuesday afternoon. The Tuesday afternoon earnings announcement follows the merger agreement reached on Monday, providing an immediate operational event for EQT as it moves to acquire Range Resources Corporation in the more than $50 billion transaction. This article is intended for informational purposes only. It does not constitute investment advice.