South Korea-based POSCO International Corp. has agreed to acquire the non-operated Marcellus position of a Chord Energy Corp. subsidiary for $550 million, gaining a producing US shale gas asset that it plans to use to generate immediate cash flow while expanding its LNG value chain.

The acquisition includes about 32,000 net acres in the core of the Marcellus play in Pennsylvania, trailing 12-month production of about 121 MMcfd, and 1.3 tcf of reserves, including 220 bcf of discovered potential, POSCO said in a briefing Sept. 16. The asset produces 100% residue gas with no NGLs and includes 2,006 wells, consisting of 1,305 producing wells and 701 development wells. POSCO said first-half 2026 production averaged about 124 MMscfd.

Field activities, including production, drilling, and permitting, will continue to be managed by an established local operator, POSCO said. The company plans to focus on gas marketing and downstream integration.

"This investment goes beyond the simple acquisition of a producing gas field," said Dong-il Kim, head of POSCO International's E&P Business Division. "It is an investment to expand the value chain by securing immediate returns through proven US upstream assets and connecting gas sales, liquefaction, LNG trading, and group demand."

POSCO said that, under the current sales portfolio, about half of production is sold near production sites, with roughly 30% marketed into northeastern US and Ohio and another 20% supplied to Gulf Coast markets.

Beginning in 2029, the company plans to direct a portion of production to LNG liquefaction plants and market the resulting LNG through its trading subsidiary.