Tellurian, formerly known as Magellan Petroleum Corporation, announced today that it has closed its merger with Tellurian Investments Inc. Tellurian's common stock will continue to trade on the NASDAQ under the new ticker symbol "TELL".
Tellurian Investments was founded as a private company in February, 2016, by Charif Souki and Martin Houston. On February 10, 2017, it merged with a wholly owned subsidiary of Magellan Petroleum Corporation. Their first LNG project is Driftwood LNG, a 26 mtpa LNG export facility located on approximately 1,000 acres on the west bank of the Calcasieu River near Carlyss, Calcasieu Parish, Louisiana
Meg Gentle, Tellurian's President and CEO, said: "We look forward to creating value for our shareholders by delivering clean, low-cost, and reliable liquefied natural gas to the global market. We are developing large scale energy infrastructure on the U.S. Gulf Coast, including the 26 million tonnes per annum Driftwood LNG facility in Calcasieu Parish, Louisiana, which is scheduled to begin construction in 2018."