EQT acquires Range Resources to form the nation’s largest natural gas producer
Published . Updated .
CANONSBURG, Pa. — EQT Corporation, the second largest natural gas producer in West Virginia, has announced plans to acquire adjacent Appalachian gas producer, Range Resources Corporation, in an all-stock deal valued at $13 billion.
Directly affected
Indirectly affected
- UNG United States Natural Gas Fund-7.2% 30d
United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story.
- XLE Energy Select Sector SPDR+7.4% 30d
Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story.
- LNG Cheniere Energy+8.9% 30d
Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- KMI Kinder Morgan+4.2% 7d
Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- WMB The Williams Companies
The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
- CNQ Canadian Natural Resources+2.1% 30d
Canadian Natural Resources (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| EQT | -2.14% | -2.80% | base | -1.79% | after close | after close | after close |
| RRC | -5.06% | -5.65% | base | +17.20% | after close | after close | after close |
| UNGNo price data for this ticker | — | — | — | — | — | — | — |
| XLE | -2.19% | -1.69% | base | +0.30% | after close | after close | after close |
| LNGNo price data for this ticker | — | — | — | — | — | — | — |
| KMINo price data for this ticker | — | — | — | — | — | — | — |
| WMBNo price data for this ticker | — | — | — | — | — | — | — |
| CNQNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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EQT acquires Range Resources to form the nation’s largest natural gas producer WV MetroNews
Source: WV MetroNews
United States Natural Gas Fund (UNG) compared with energy stocks (XLE) since 26 Oct 2026
| Company | When | Move | Status |
|---|---|---|---|
| Eqt (EQT) | that day | -1.79% | final price |
| Eqt (EQT) | three days earlier | -2.80% | final price |
| Eqt (EQT) | five days earlier | -2.14% | final price |
| RRC | that day | +17.20% | final price |
| RRC | three days earlier | -5.65% | final price |
| RRC | five days earlier | -5.06% | final price |
| Select Sector Spdr Tr (XLE) | that day | +0.30% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -1.69% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.19% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 27 Aug 2026. That is 60 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Eqt (EQT), worth $1,001 - $15,000 on 17 Aug 2026. That is 70 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Eqt (EQT) (held by a spouse), worth $1,001 - $15,000 on 14 Aug 2026. That is 73 days before publication. Filed 14 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, sold Kinder Morgan (KMI), worth $1,001 - $15,000 on 31 Jul 2026. That is 87 days before publication. Filed 22 Sep 2026. View the filing.
- Sen. Alan Armstrong sold Williams Companies (WMB) (jointly held), worth $250,001 - $500,000 on 8 Sep 2026. That is 48 days before publication. Filed 22 Oct 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $15,001 - $50,000 on 20 Aug 2026. That is 67 days before publication. Filed 17 Sep 2026. View the filing.
- Sen. Alan Armstrong bought Williams Companies (WMB) (jointly held), worth $1,001 - $15,000 on 19 Aug 2026. That is 68 days before publication. Filed 17 Sep 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around United States Natural Gas Fund (UNG)
Companies tied to this story
- UNG United States Natural Gas Fund
For “EQT acquires Range Resources to form the nation’s largest natural gas producer,” United States Natural Gas Fund (UNG) is linked, with no stored direction, medium confidence. Reason on file: United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
- XLE Select Sector Spdr Tr
For “EQT acquires Range Resources to form the nation’s largest natural gas producer,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence. Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
- EQT Eqt
Eqt (EQT) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “EQT acquires Range Resources to form the nation’s largest natural gas producer.” Reason on file: Eqt (crude petroleum and natural gas): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- LNG Cheniere Energy
Cheniere Energy (LNG) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “EQT acquires Range Resources to form the nation’s largest natural gas producer.” Reason on file: Cheniere Energy (natural gas distribution): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- KMI Kinder Morgan
In “EQT acquires Range Resources to form the nation’s largest natural gas producer,” Kinder Morgan (KMI) is linked, with no stored direction, medium confidence. Reason on file: Kinder Morgan (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
- WMB Williams Companies
In “EQT acquires Range Resources to form the nation’s largest natural gas producer,” Williams Companies (WMB) is linked, with no stored direction, medium confidence. Reason on file: The Williams Companies (natural gas transmission): gas producers and exporters earn more when gas prices rise. Linked by “natural gas” (natural gas) in this story
How energy news reaches United States Natural Gas Fund (UNG)
“EQT acquires Range Resources to form the nation’s largest natural gas producer” (26 Oct 2026) reaches United States Natural Gas Fund (UNG) through Energy.
For United States Natural Gas Fund (UNG), the reason on file says United States Natural Gas Fund: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
A second company, Select Sector Spdr Tr (XLE), is listed for a different reason: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
Dates and price levels for United States Natural Gas Fund (UNG)
EQT traded between 49.93 and 56.07 across 19 sessions. The latest close on file is 55.63. UNG traded between 9.52 and 11.43 across 20 sessions. The latest close on file is 9.59. XLE traded between 60.95 and 69.72 across 20 sessions. The latest close on file is 69.32.
How solid the energy case looks
46 out of 100
“EQT acquires Range Resources to form the nation’s largest natural gas producer” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.