EQT is acquiring Range Resources in an all-stock deal that will create a company with a $50 billion enterprise value, expected to close in the first quarter of 2027. EQT shareholders will own 73% of the combined company and Range holders 27%, making it the largest U.S. gas producer at more than 9 billion cubic feet equivalent per day, 88% of it natural gas. EQT is also signing long-term supply contracts tied to power demand, such as a 10-year deal to supply 325,000 dekatherms of gas per day to a West Virginia power plant, priced against PJM power prices. The article cites a Rabobank estimate that U.S. power demand could rise 20% by 2030 as AI data centers grow, but warns that slower AI spending could affect future gas demand and the value of the deal.
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