Chord Energy Signs $550 Million Deal to Sell Marcellus Assets
Chord Energy (NASDAQ:CHRD) has agreed to sell its non-operated Marcellus assets for $550 million in gross consideration, with a $55 million deposit already received. The transaction is expected to close by the end of Q4 and will shift Chord's portfolio entirely into the Williston Basin. This move aims to simplify operations and focus capital on core areas. The sale could reduce annual capital requirements by about $25 million, offering flexibility for debt repayment or reinvestment. However, investors are weighing whether this strategic realignment justifies the loss of earnings from Marcellus assets, which contributed approximately $92 million in adjusted EBITDA under current valuation assumptions. The company will provide updated guidance with its Q3 results in November. The transaction's impact on Chord’s financial performance remains conditional and subject to adjustments at closing.
Tickers: $CHRD
Topics: Divestment Strategy Energy Natural Gas