The Daily BidCo

On Monday 26 October 2026 EQT, one of the largest natural gas producers in the United States, announced that it will buy its Appalachian neighbour Range Resources in an all stock merger. Each Range share will turn into 0.987 EQT shares. Reuters values that at US$54.91 per Range share and about US$12.83bn in total, a premium of 20.6% to Friday's close. EQT itself puts no dollar figure on the price and talks instead about the combined business, which it says will have an enterprise value above US$50bn, more than 9 billion cubic feet equivalent of gas production a day, nearly 3 million net acres, more than 30 years of drilling inventory and about 3,700 miles of pipeline and related midstream assets. EQT describes the result as the largest vertically integrated natural gas producer in the United States. Reuters notes this is larger than Expand Energy, at about 7.2 billion cubic feet equivalent a day in 2025.