Chord Energy Corp
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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Sep 30, 2026 · Filed Nov 5, 2026
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Assets Held for Sale
- Assets Held for Sale
2026 Assets Held for Sale
During the third quarter of 2026, the Company entered into an agreement to divest its entire non-operated interest in the Marcellus Shale to a subsidiary of POSCO International Corporation (“POSCO”). The transaction is expected to close during the fourth quarter of 2026, subject to customary closing conditions, for estimated total gross proceeds of $550.0 million, subject to customary purchase price adjustments. Upon execution of the purchase and sale agreement, the Company received a refundable cash deposit of $55.0 million from POSCO, which is included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet at September 30, 2026. As of September 30, 2026, the Company classified the assets and liabilities associated with these properties as held for sale on its Condensed Consolidated Balance Sheet. Since these properties were classified as held for sale, the Company ceased depreciation and recognized no impairment on the assets held for sale.
The following table presents balance sheet data related to the assets held for sale at September 30, 2026:
| (In thousands) | |
|---|---|
| Assets: | |
| Oil and gas properties | $570,937 |
| Less: accumulated depreciation, depletion and amortization | (128,815) |
| Total property, plant and equipment, net | 442,122 |
| Other current assets | 2,299 |
| Total current assets held for sale | $444,421 |
| Liabilities: | |
| Revenue and production taxes payable | 27,067 |
| Asset retirement obligations | 25,795 |
| Total current liabilities held for sale | $52,862 |
| Net assets | $391,559 |
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