EQT-Range Resources merger could create largest US natural gas producer
Published . Updated .
EQT Corporation announced its intent to acquire Range Resources on Oct. 26 in a nearly $13 billion stock deal. Both companies’ boards of directors voted unanimously for the merger.
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 | -0.02% | -0.35% | base | after close | after close | after close | after close |
| RRC | -18.56% | -18.13% | base | after close | after close | after close | after close |
| UNGNo price data for this ticker | — | — | — | — | — | — | — |
| XLE | -2.42% | -2.96% | base | after close | 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-Range Resources merger could create largest US natural gas producer Farm and Dairy
Source: Farm and Dairy
United States Natural Gas Fund (UNG) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| Eqt (EQT) | three days earlier | -0.35% | final price |
| Eqt (EQT) | five days earlier | -0.02% | final price |
| RRC | three days earlier | -18.13% | final price |
| RRC | five days earlier | -18.56% | final price |
| Select Sector Spdr Tr (XLE) | three days earlier | -2.96% | final price |
| Select Sector Spdr Tr (XLE) | five days earlier | -2.42% | 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).
Companies in energy around United States Natural Gas Fund (UNG)
Companies carried with this story
- UNG United States Natural Gas Fund
For “EQT-Range Resources merger could create largest US 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
Select Sector Spdr Tr (XLE) is linked, with no stored direction, medium confidence in the 26 Oct 2026 story “EQT-Range Resources merger could create largest US natural gas producer.” Reason on file: Energy Select Sector SPDR: it follows natural-gas prices. Linked by “natural gas” (natural gas) in this story
- LNG Cheniere Energy
For “EQT-Range Resources merger could create largest US natural gas producer,” Cheniere Energy (LNG) is linked, with no stored direction, medium confidence. 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
- EQT Eqt
For “EQT-Range Resources merger could create largest US natural gas producer,” Eqt (EQT) is linked, with no stored direction, medium confidence. 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
- KMI Kinder Morgan
For “EQT-Range Resources merger could create largest US 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
For “EQT-Range Resources merger could create largest US 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
United States Natural Gas Fund (UNG) and the energy link
“EQT-Range Resources merger could create largest US natural gas producer” (26 Oct 2026) reaches United States Natural Gas Fund (UNG) through Energy.
The link for United States Natural Gas Fund (UNG) is this: 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
The price range for United States Natural Gas Fund (UNG), and the dates in the story
LNG traded between 259.65 and 299.40 across 20 sessions. The latest close on file is 298.59. 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 strong the case is around United States Natural Gas Fund (UNG)
46 out of 100
“EQT-Range Resources merger could create largest US natural gas producer” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.