Range Resources -3% after disclosing Q1 results excluding EQT deal

|About: EQT Corporation (EQT)|By:, SA News Editor

Range Resources (RRC -3.1%) is sharply lower after disclosing pro forma results excluding the pending transaction with EQT Corp. (EQT -1.2%); Q1 revenues would be reduced by 4% to $437M and EPS by $0.04 to $0.16.

RRC expect to complete the exchange of the Conger assets in Texas for the Nora oil and gas producing properties, gathering and other assets in Virginia owned by EQT on June 16 with an effective date of Jan. 1, 2014.