Tellurian Updates Timing and Strategy for Upstream Acquisitions and Financing

Tellurian Inc. and its wholly owned subsidiary Driftwood Holdings provided an update on its upstream acquisition and financing strategy this week. Driftwood LNG plans to develop a 27.6 mtpa LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana.

President and CEO Meg Gentle said, “Tellurian plans to acquire 15 trillion cubic feet (tcf) of natural gas over the project life as part of our overall integrated strategy for the development of Driftwood Holdings. We are looking primarily in the Haynesville shale and are speaking with many producers, but we have no transaction close to completion at this point. Any asset acquisition would occur at the Driftwood Holdings level and would be financed from proceeds of third-party investments in Driftwood Holdings. We continue to make very good progress in our discussions with third-party investors, expect to execute agreements in Driftwood Holdings over the next few months, and be in a position to close funding of phase one for 11 million tonnes between the third and fourth quarters of 2018.”

Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle.