Aethon Energy to buy Tellurian upstream assets for $260 MM
5/29/2024
Aethon Energy will acquire Tellurian's upstream assets for $260 MM and purchase 2 MMtpy of LNG from its Driftwood LNG plant, the companies said on Wednesday.
Shares of Tellurian were up 6.1% in premarket trading. Reuters reported earlier this month that U.S. LNG developer Tellurian had sent home more than a dozen workers from its upstream gas production business amid sale talks.
Tellurian said on Wednesday it would use the proceeds from the transaction to reduce borrowings and for general corporate purposes.
The transaction is expected to close during the second quarter.
Related News
Related News
Sign up to Receive Our Newsletter
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Nicor Gas celebrates its first renewable natural gas interconnection
- EnviTec Biogas looks to expand biogas production into the U.S.
- Phillips 66 outlines nearly $3-B capital program for 2025
Comments