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Tellurian closes agreement to acquire core Haynesville acreage, production and midstream assets

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A wholly-owned subsidiary of Tellurian Inc. has closed its previously announced agreement with Rockcliff Energy Operating LLC to purchase natural gas producing assets and undeveloped acreage in northern Louisiana for US$85.1 million, subject to customary adjustments.

The assets include approximately four million ft3/d of natural gas production, approximately 1.3 trillion ft3 of gas resource, and approximately 138 drilling locations, which Tellurian believes will be able to be produced and delivered to market for an estimated US$2.25 per mmBtu. The assets are 100% held by production and 92% operated, allowing Tellurian to control the pace of development for its multi-year drilling inventory.

President and CEO Meg Gentle said, "Acquisition of natural gas producing acreage in the core of the Haynesville provides the foundation for a growing portfolio of assets that we expect can produce LNG for a cost of US$3.00 per mmBtu, FOB US Gulf Coast, when Driftwood LNG begins operations in 2022."

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