EQT and Range Resources Are Merging: Is It Time to Buy the New U.S. Natural Gas Titan?

EQT will acquire Range Resources in an all-stock deal valued at $13 billion, creating the largest U.S. natural gas producer with combined enterprise value exceeding $50 billion. The merger is expected to close in Q1 2027 and will generate $325 million in annual corporate/operational cost savings plus $300 million from post-production optimization. With strong natural gas demand from AI infrastructure and data centers, EQT stock trading at an 11% free-cash-flow yield presents an attractive investment opportunity.