Gas producers consolidate: the week in business releases

Two energy producers agreed to buy rivals, while other companies closed deals, raised capital and reported on credit and leadership changes.

Nov 4, 2026 · Mini Business News newsroom

Energy consolidation led the week. EQT Corporation and Range Resources Corporation announced a definitive all-stock merger agreement that the companies say creates a natural gas producer with a pro forma enterprise value over $50 billion. Separately, Ovintiv Inc. agreed to buy Logan Energy Corp. for approximately $890 million (C$1.26 billion) in cash, adding Montney oil window acreage near its existing operations.

Outside energy, several companies reported deals and financing. GameSquare Holdings closed its acquisition of FanEngine IP assets after stockholder approval, iQSTEL closed up to $3 million in non-convertible debt tied to West African telecom platform Ultranet, and Strive set up a $1.0 billion at-the-market program for its SATS preferred stock. MainStreet Bancshares reported quarterly results that included a credit loss provision linked to commercial real estate, and Herc Holdings named its next chief executive.

MainStreet Bancshares, Inc.

MainStreet Bancshares reported net income of $3.6 million, or $0.43 per common share, for the quarter ended September 30, 2026, with net interest margin of 3.55% and net interest income of $18.8 million, its fourth consecutive quarterly increase. The bank added a $1.9 million provision for credit losses, a ($0.21) per share impact, as executives say it works through nonperforming assets in commercial real estate.

Range Resources Corp

EQT Announces Strategic Acquisition of Range Resources,

Range Resources and EQT announced a definitive merger agreement under which EQT will acquire Range in an all-stock transaction with a pro forma enterprise value over $50 billion. The companies say the combined business will have more than 9 Bcfe/d of net production, more than 30 years of inventory across nearly 3 million net acres and more than 3,700 miles of midstream infrastructure.

EQT Corp

EQT Announces Strategic Acquisition of Range Resources, Creating America’s Undisputed Natural Gas Champion

EQT issued the same announcement of its all-stock acquisition of Range Resources, which the companies say will create the largest vertically integrated natural gas producer in the U.S. EQT says the deal positions it as a partner for end users of natural gas as demand grows.

Ovintiv Inc.

Ovintiv agreed to acquire all outstanding shares of Logan Energy in an all-cash deal valuing Logan at approximately $890 million (C$1.26 billion) including expected net debt at closing. Ovintiv says the bolt-on adds about 420 net 10,000-foot equivalent oil well locations, about 266,000 net acres in the Montney oil window and current production of approximately 20 MBOE/d.

iQSTEL

IQST - IQSTEL Closes Two-Year Non-Convertible Financing for Ultranet, a Profitable $131 Million-Revenue West African Telecom Platform Expected to Make IQSTEL Cash-Flow Positive on a Consolidated Basis

iQSTEL closed up to $3 million in two-year senior secured, non-convertible promissory notes for Ultranet, a West African telecom platform. The company says Ultranet generated $130.9 million in 2025 revenue, up 30%, with $5.0 million in EBITDA and $4.6 million in net income, and is expected to make iQSTEL cash-flow positive on a consolidated basis.

GameSquare Holdings, Inc.

GameSquare Closes FanEngine Transaction

GameSquare Holdings completed its acquisition of sports, music and entertainment IP assets from FanEngine Holdings following stockholder approval on October 22, 2026. GameSquare says it expects 2027 revenue of over $150 million, gross margin above 50% and adjusted EBITDA of more than $30 million.

Strive, Inc.

Strive Announces $1.0 Billion SATS At-The-Market Program

Strive entered into a sales agreement to issue and sell up to $1.0 billion of its 15.00% Series A Perpetual SATS Preferred Stock through an at-the-market program. The company says proceeds may fund bitcoin and bitcoin-related purchases, income generating assets, working capital, acquisitions, dividends and share repurchases.

Herc Holdings Inc

Herc Holdings Inc. Announces CEO Succession Plan

Herc Holdings said president Aaron Birnbaum will succeed Larry Silber as chief executive officer effective Jan. 1, 2027, and will join the board. Silber, CEO since 2015, will become executive chairman, and the company says Birnbaum has over 35 years of experience with Herc Rentals and its predecessor businesses.

This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Mini Business News reporting.