Merger and acquisition activity has been particularly busy in the prolific Permian Basin, which straddles West Texas and southeastern New Mexico. Still, consolidation talks are also picking up for gas producers in Appalachia, where CNX and EQT operations are based. EQT already is the largest supplier of U.S. gas, producing 44% more than its nearest competitor, Exxon Mobil Corp., according to figures compiled by the Natural Gas Supply Association. EQT pumped about 4 billion cubic feet a day as of the first quarter, while CNX produced 1.38 billion, the data show. EQT Chief Executive Officer Toby Rice, 38, is pursuing what would be his first deal since he took the top job in July 2019. The Rice family had previously sold their Appalachian gas company, Rice Energy, to EQT in 2017. But they became disenchanted with EQT's performance and mounted a nine-month proxy fight, vowing to slash costs amid growing investor pressure for cash generation and better returns.