Tellurian Stock Price, News & Analysis

Tellurian Inc. (NYSE American: TELL) has announced that its stockholders have approved the Merger Agreement Proposal. This proposal was defined in Tellurian's proxy statement, which was filed with the Securities and Exchange Commission (SEC) on August 27, 2024, for its Special Meeting of Stockholders. The approval marks a significant step for the company, potentially indicating a major corporate restructuring or strategic alliance. However, the press release does not provide specific details about the merger agreement or its potential impact on the company's operations or financial position.

Woodside has entered into a definitive agreement to acquire Tellurian (NYSE: TELL) and its Driftwood LNG development for approximately $900 million, or $1.00 per share. The acquisition positions Woodside as a global LNG powerhouse, adding a scalable, fully permitted 27.6 million tonnes per annum (Mtpa) US LNG development option to its portfolio.

The Driftwood LNG project is located near Lake Charles, Louisiana, and comprises five LNG trains through four phases. Woodside is targeting FID readiness for Phase 1 (11 Mtpa) from Q1 2025. The development is fully permitted, cost and carbon competitive, with construction already underway.

This strategic move aligns with Woodside's goal to thrive through the energy transition, expanding its position as a leading independent LNG company and enabling value creation through marketing optimization and geographic diversification.

Tellurian Inc. (NYSE American: TELL) has announced a definitive agreement with Woodside Energy Group (ASX: WDS) for an all-cash acquisition of Tellurian at $1.00 per share, valuing the company at approximately $900 million. The offer represents a 75% premium to Tellurian's closing price on July 19, 2024, and a 48% premium to its 30-day volume weighted average price. The total enterprise value, including net debt, is about $1.2 billion. The transaction, unanimously approved by both boards, is expected to close in Q4 2024, subject to shareholder and regulatory approvals. This acquisition reflects Tellurian's progress in executing its refreshed strategy and advancing the Driftwood LNG project.

Tellurian has successfully completed the sale of its integrated upstream assets for $260 million to affiliates of Aethon Energy Management. The proceeds were used to retire $230 million of non-convertible Senior Secured Notes maturing in 2025. This move significantly strengthens Tellurian's balance sheet, enhancing its ability to advance the Driftwood LNG project. Aethon Energy, now integrating Tellurian's assets into its Haynesville operations, aims to generate compelling returns and support net zero natural gas goals. The transaction is a critical step in securing Tellurian's financial stability and progressing the development of Driftwood LNG.

Tellurian Inc. (NYSE American: TELL) and Aethon Energy Management have announced a $260 million agreement for Aethon to acquire Tellurian’s integrated upstream assets. This includes approximately 31,000 net acres in the Louisiana Haynesville and Bossier shale basins, with systems capable of handling up to 100 MMcf/d. Additionally, Aethon will purchase 2 mtpa of LNG from Tellurian's Driftwood LNG plant under a Heads of Agreement, potentially leading to a 20-year offtake agreement indexed to Henry Hub plus a liquefaction fee. The deal, expected to close in Q2 2024, aims to help Tellurian pay down debt and bolster its balance sheet, while expanding Aethon's asset base and LNG capacities.

Tellurian Inc. reported its first quarter 2024 results and updated progress on the Driftwood LNG project. The company focused on financial discipline, execution, and balance sheet improvement. Driftwood LNG received an extension for construction permits. Tellurian's Q1 2024 revenue was $25.5 million, with a net loss of $44.0 million. The company aims to deliver natural gas globally and is listed on NYSE American under the symbol 'TELL'.