Cashing in, Chord Energy sells Marcellus gas assets to Posco International for $550M

Chord Energy Corporation (CHRD) has agreed to sell its entire non-operated Marcellus natural gas position to POSCO International Corporation for $550 million, according to a press release from the Houston-based company.

The assets include approximately 32,000 net acres and trailing 12-month production of approximately 121 MMcfpd of 100% residue gas. The transaction’s effective date is July 1, 2026, and it is expected to close in the fourth quarter of 2026, subject to customary closing conditions. Chord has already received a $55 million deposit, with the remaining consideration due at closing.

The sale price represents approximately 6x adjusted EBITDA based on gross proceeds of $550 million and $3.50/MMBtu Henry Hub pricing, a non-GAAP measure based on trailing 12-month figures for the divested assets.