The divestiture covers approximately 32,000 net acres with a trailing 12-month production volume of 121 million cubic feet per day. By shedding these assets, Chord Energy aims to strengthen its balance sheet and lower its net leverage, capitalizing on a transaction valued at roughly 6x Adjusted EBITDA. The company has already secured a $55 million deposit, with the remainder of the purchase price due upon closing, effective retroactively to July 1, 2026.

CEO Danny Brown characterized the sale as a logical progression of the company’s capital allocation strategy, noting that the Marcellus position became non-core following the acquisition of Enerplus in May 2024. Moving forward, Chord plans to concentrate its operational resources on the Williston Basin, where leadership anticipates higher oil weighting. While the divestiture is projected to reduce gas realizations by up to 30%, it is expected to decrease annual capital expenditures by $25 million, further supporting the firm’s commitment to financial efficiency.