EQT to Buy Range Resources in $13 Billion Natural Gas Deal
EQT is buying Range Resources to create a U.S. leader. The deal carries a 21% premium; EQT CEO Toby Rice points to data-center demand as a driver of higher local production and potentially higher prices.
By Robert CyranEQT is buying local rival Range Resources to create a US leader. Cost savings won’t cover the 21% premium being paid, but boss Toby Rice sees more. Although Appalachian producers must export, data centers are spurring local demand, auguring higher production and, perhaps, prices.Full…