Tellurian wraps up Haynesville deal

US LNG firm Tellurian, the developer of the Driftwood LNG export facility in Louisiana, has completed the previously announced acquisition of natural gas assets in the Haynesville Shale.

Tellurian Production (TPC), a unit of Tellurian, bought the assets in the Haynesville from privately held EnSight IV Energy Partners and EnSight Haynesville Partners.

According to a Tellurian statement issued on Thursday, the cash consideration at closing was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments.

Also, the firm funded the acquisition with cash on hand.

With the closing of the EnSight acquisition, TPC has current production of about 150 million cubic feet/day (MMcfd) from assets in the Haynesville basin.

In addition, TPC operates 11 wells currently being drilled or completed, all of which it expects to turn to sales before the end of the year.

These new wells are expected to increase TPC’s production rate to about 250 MMcfd.

“This closing represents significant progress for Tellurian and our business model,” Tellurian’s president and CEO, Octavio Simoes, said in the statement.

“By owning and operating upstream assets, a pipeline network, and the Driftwood LNG terminal, Tellurian will have the ability to sell natural gas into domestic or international markets. This combination of assets represents a compelling value for our shareholders,” he said.

- Advertisements -

Most Popular

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Sempra takes FID on Port Arthur LNG project

US LNG player Sempra Infrastructure, a unit of Sempra, has taken a final investment decision for the first phase...

Excelerate to buy FSRU from Maran Gas

US floating LNG player Excelerate Energy plans to exercise an option to buy the 2020-built FSRU Sequoia from Greece’s...

More News Like This

Tellurian boosts gas production as Driftwood LNG work progresses

US LNG terminal developer Tellurian reported a jump in its natural gas production as it continues to move forward...

Tellurian secures one more month to fulfill Gunvor LNG supply deal

Tellurian, the developer of the Driftwood LNG export project in Louisiana, has secured one more month to meet the...

Tellurian in Driftwood LNG equity talks with several firms, Souki says

Tellurian, the developer of the Driftwood LNG export project in Louisiana, is in talks with "several equity providers" as...

Tellurian gets one month to save Gunvor LNG supply deal

Tellurian, the developer of the Driftwood LNG export project in Louisiana, has one month to meet the conditions of...