South Korea's POSCO Buys Chord's NEPA Non

Chord Energy (CHRD) agreed to sell its Marcellus position to POSCO International for $550M, expected to close in Q4. The deal includes 32k net acres and 121 MMcfpd production. Proceeds will reduce leverage and focus operations in the Williston Basin. Chord expects updated guidance in Q3 earnings. Advisors included Moelis, RBC, and Orrick.

Chord Energy (CHRD) agreed to sell its Marcellus gas assets to POSCO International (PKX) for $550M. The sale includes 32K net acres and 121M cf/day production, representing ~6x adjusted EBITDA. Chord will focus on the Williston Basin post-sale.

POSCO International is acquiring a stake in a U.S. gas field for 750 billion won, aiming to strengthen its LNG value chain. Samsung Securities initiated coverage with a 80,000 won target price and 'Buy' rating, citing expanded LNG capabilities. The company plans to increase gas and LNG trading volumes by 2031. Shinhan Securities noted potential long-term benefits despite overhang concerns.

Santos has signed two LNG agreements: a 10-year supply deal with POSCO Steel and a 20-year purchase agreement with Western LNG for 1 million metric tons per year, starting around 2031.

POSCO International plans to invest $1.4 billion in its US unit to acquire shale assets and may join the $45 billion Alaska LNG project, according to reports. The company is expected to sign an LNG supply agreement with Glenfarne Group, a US company leading the LNG initiative.

Santos has signed two separate LNG agreements, one with POSCO Steel and another with Western LNG. The deals involve the supply of LNG from Santos' Gladstone LNG project in Australia. The agreements are expected to strengthen Santos' position in the LNG market.