Range Resources, EQT project about $20 billion in combined free cash flow over next five years
RRC•Range Resources and EQT project about $20 billion in combined free cash flow over five years at recent strip pricing. The all-stock merger is expected to close in the first quarter of 2027, subject to regulatory and shareholder approvals.
1. Cash flow projections
The companies expect annual synergies to reach $325 million within two years, with a longer-term path to more than $600 million. They expect the combined company’s unlevered free cash flow breakeven to fall below $2 per MMBtu. The transaction implies a combined enterprise value above $50 billion, with BBB-quality credit metrics expected at closing.
