Chord Energy Sells Marcellus Assets for $550 Million

HOUSTON, Sept. 16, 2026 /CourierPR/ -- Chord Energy Corporation, a leading independent exploration and production company, announced on [Date] that it has entered into an agreement to sell its non-operated Marcellus position to POSCO International Corporation for a total gross consideration of $550 million. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

The divested position includes approximately 32,000 net acres and trailing 12-month (TTM) production of about 121 million cubic feet per day (MMcfpd) of 100% residue gas with no natural gas liquids (NGLs). This divestiture is highly accretive, with the transaction value representing approximately 6 times the adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) based on gross proceeds of $550 million and a Henry Hub price of $3.50 per million British thermal units (MMBtu).

Chord Energy received a $55 million deposit as part of the agreement, with the remaining consideration payable at closing. The effective date for the transaction is July 1, 2026. The company expects this divestiture to further strengthen its peer-leading balance sheet, with net leverage anticipated to decline as a result.

Proceeds from the transaction will be deployed in a manner consistent with the company's disciplined capital allocation framework. Following the divestiture, Chord's portfolio will be focused exclusively on the Williston Basin, where the company plans to continue driving significant value creation through its size, scale, and robust inventory life.

Danny Brown, Chord Energy's Chief Executive Officer, commented, "The divestiture of our non-operated Marcellus position builds on Chord's multi-year track record of disciplined capital allocation and portfolio optimization. We have benefited from the Marcellus' significant free cash flow generation and are pleased to bring substantial value forward through this divestiture. This highly accretive transaction allows us to further strengthen our peer-leading balance sheet and focus on creating significant value from our world-class Williston Basin position."

Chord Energy expects to update its guidance in conjunction with its third-quarter 2026 earnings release in November. On a pro forma basis, the company anticipates the following impacts to its post-divestiture key metrics: - Oil weighting would increase by approximately 4 to 5 percentage points. - Gas realizations would decrease by approximately 16 to 30 percentage points. - LOE (lifting operating expenses) would increase by approximately 70 to 80 cents per barrel of oil equivalent (Boe). - Cash GPT3 (cash generation per thousand cubic feet) would decrease by 20 to 25 cents per Boe. - Production taxes would increase by approximately 0.15% to 0.45% of oil, NGL, and natural gas sales. - Capital expenditures (CapEx) would decrease by approximately $25 million annually.

Moelis & Company LLC and RBC Capital Markets acted as strategic and financial advisors to Chord Energy, while Orrick, Herrington & Sutcliffe LLP served as legal advisors. Bank of America acted as strategic and financial advisor to Chord's counterparty, POSCO International Corporation, with DLA Piper providing legal representation.