(Source: Aethon)
Aethon closed a deal with Tellurian Inc. to grow its Haynesville Shale assets to about 375,000 total acres and its natural gas gathering and treatment capacity to more than 3 Bcf/d, Aethon said on July 1.
Tellurian announced the $260 million deal with Aethon in May. The move transforms Tellurian into a pure-play LNG firm. Tellurian company said the proceeds from the sale would be used to reduce debt on its Driftwood LNG development on the Calcasieu River in Louisiana.
“This transaction is a significant step in securing our balance sheet and progressing Driftwood,” said Tellurian Executive Chairman Martin Houston in a press release.
As part of the deal, Aethon signed a heads of agreement (HOA) for 2 metric tons per year of LNG from the Driftwood project.
“As a private equity firm and operator, we are excited to enhance our strategic footprint by integrating Tellurian's upstream and midstream assets into our extensive Haynesville position,” said Gordon Huddleston, Aethon’s president and partner.
Recommended Reading
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
Francine Closes, Restricts Oil Export Ports, Shuts in 42% of GoM Oil
2024-09-13 - In addition to hampering ports and refineries, an estimated 41.74% of Gulf of Mexico oil production, or 730,472 bbl/d, has been shut in.
Oil and Gas Stocks Revel in a Post-Election Trump Bump
2024-11-08 - Oil and gas company stocks, particularly those of E&Ps and oilfield services, enjoyed a boost immediately following the presidential election of Donald Trump.
Oil Prices Jump 4% on Reports of Iran Preparing to Attack Israel
2024-10-01 - An Israeli attack on Iranian oil production or export facilities could cause a material disruption, potentially more than a 1 MMbbl/d.
As Crude Markets Turn Bearish, Will OPEC Come to the Rescue?
2024-09-13 - Despite oil futures prices sliding since August, OPEC continues to keep supplies up, to the bafflement of analysts.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.