PR Newswire·Sep 16, 2026, 7:30 AM ET

Chord Energy Announces Divestiture of Non-Operated Marcellus Assets

CHRD

Chord Energy Corporation agreed to sell its entire non-operated Marcellus position to POSCO International Corporation for $550 million in gross consideration.
The transaction involves approximately 32,000 net acres with trailing 12-month production of 121 MMcfpd, consisting entirely of residue gas with no NGLs.
The deal is expected to close in the fourth quarter of 2026, subject to customary closing conditions, with an effective date of July 1, 2026.
Chord received a $55 million deposit, with the remaining balance payable upon closing.
The transaction represents approximately 6x Adjusted EBITDA based on gross proceeds & a $3.50/MMBtu Henry Hub price assumption.
Chord's net leverage is expected to decline further & remain below peer levels following the divestiture.
Proceeds will be deployed according to the Company's disciplined capital allocation framework as the portfolio shifts to focus exclusively on the Williston Basin.
Post-divestiture guidance updates indicate oil weighting will increase by 4 to 5 percentage points while gas realizations decrease by 16 to 30 percentage points.
Operating expenses are projected to increase by 70 to 80 cents per Boe due to higher oil weighting, while capital expenditures will decrease by approximately $25 million annually.
Cash GPT is expected to decrease by 20 to 25 cents per Boe, & production taxes will increase by 0.15% to 0.45% of sales.
Moelis & Company LLC & RBC Capital Markets served as advisors to Chord, while Bank of America & DLA Piper advised the counterparty.