Fort Worth, Texas-based natural gas and natural gas liquids exploration and production company Range Resources has entered into a merger agreement with EQT Corporation, an energy company from Pittsburgh.

According to the agreement, EQT will acquire Range Resources in an all-stock transaction, bringing the company’s value to over $50 billion.

The decision was unanimously approved by the board of directors of both companies. Each outstanding share of Range Resources common stock will be exchanged for 0.987 shares of EQT common stock.

The transaction is expected to close during the first quarter of 2027, subject to regulatory approvals and clearances.

Upon the closing of the transaction, two representatives from Range Resources will join EQT’s board of directors. EQT’s executive management team will lead the combined company.

As a result of the transaction, EQT’s existing shareholders are expected to own about 73% of the combined company and Range Resources’ shareholders are expected to own about 27%.

Range Resources has a regional headquarters and operational core located in Cecil Township, Washington County, at the Southpointe business park.