Pennsylvania’s EQT will become the nation’s top natural gas producer with the $12.8 billion, all-stock acquisition of rival Range Resources announced Monday.
The deal comes as EQT prepares for a future of surging gas demand both domestically from power and the data center boom, and from rising exports to fuel the world, highlighted this year by the Iran war and the resulting gas shortages throughout much of Europe and Asia. That’s why EQT was willing to pay a nearly 21% premium for Range during a time of deflated premiums in oil and gas dealmaking.
