Tellurian Inc (TELL)

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Tellurian to Buy Louisiana Natural Gas Operation From Rockcliff Energy Operating for $85.1 Mln

MT NEWSWIRES 6:04 AM ET 11/16/2017

08:04 AM EST, 11/16/2017 (MT Newswires) -- A wholly owned subsidiary of Tellurian (TELL), a natural gas liquefaction and export company, said on Thursday it has closed an agreement with Rockcliff Energy Operating to purchase natural gas producing assets and undeveloped acreage in northern Louisiana for $85.1 million.

The assets include approximately four million cubic feet per day of natural gas production, approximately 1.3 trillion cubic feet of gas resource, and approximately 138 drilling locations, which Tellurian believes will be able to be produced and delivered to market for an estimated $2.25 per mBtu.

The assets are 100% held by production and 92% operated, allowing Tellurian to control the pace of development for its multi-year drilling inventory.

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