Chord Energy Sells Marcellus Assets to POSCO for $550 Million

Chord Energy Corporation entered an agreement to sell its entire non-operated Marcellus position to POSCO International Corporation for $550 million in gross consideration. The divestiture includes approximately 32,000 net acres with a trailing 12-month production of about 121 MMcfpd of residue gas.

The transaction has an effective date of July 1, 2026, and is expected to close in the fourth quarter of 2026. Chord Energy has already received a $55 million deposit, with the remaining balance due upon closing. This strategic move allows the company to focus its portfolio exclusively on the Williston Basin.

CEO Danny Brown stated that the transaction strengthens the company's balance sheet. He noted that the Marcellus position was identified as non-core following the close of the Enerplus transaction in May 2024, and that the sale allows the company to bring substantial value forward from the assets' free cash flow generation.