When EQT Corp. agreed to buy Rice Energy Inc. for $6.7 billion a little over a year ago to create the country’s largest natural gas producer, it promised that the combined company would be able to make more by spending less. Those promises have so far fallen flat, and what many cheered as one of the first deals in a hoped-for wave of consolidation among shale companies is turning out to be a cautionary tale, demonstrating that in fracking, bigger isn’t always better.

Source: Wall Street Journal January 13, 2019 12:00 UTC