EQT CEO Toby Rice on the $13 Billion Range Resources Acquisition and U.S. Natural Gas Outlook

CNBC sits down with EQT CEO Toby Rice for an exclusive interview following the company's all-stock acquisition of Range Resources, a deal valued at $13 billion in transaction value and $50 billion including debt and enterprise value. The discussion covers the strategic rationale behind the merger, identified synergies, AI-driven power demand in Appalachia, and the role of American natural gas in global energy security.

■ The EQT–Range Resources Deal
- Rationale for combining two of the largest Pennsylvania and Appalachia natural gas producers
- Value metrics targeted by the merger and the resulting scale of the combined company
- Synergies of over $625 million, split between base operating savings and long-term upside

■ Demand and Energy Security
- Growth in in-basin natural gas demand linked to AI and data center power needs
- Combined productive capacity of the merged entity relative to that demand
- European reliance on U.S. LNG, international versus domestic price differences, and the case for expanding U.S. exports

This is suited for investors, energy sector professionals, and anyone following U.S. natural gas, M&A strategy, or the link between gas supply and AI power demand. Viewers gain context on how a major upstream merger is evaluated and on the factors shaping domestic and global natural gas markets, which can inform further research and investment decisions.