Woodside Energy Completed Acquisition of Tellurian

SEATTLE (Oil Monster): Woodside Energy announced that it has completed acquisition of U.S. liquefied natural gas developer Tellurian Inc., including its U.S. Gulf Coast LNG export project. For almost $900 million in cash, the business bought all of the Tellurian common stock that was issued and outstanding. According to a corporate news release, the implicit enterprise value is projected to be approximately $1.2 billion.

The proposal for acquisition by Woodside was voted in favour by Tellurian shareholders last week.

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Woodside will rename the Driftwood LNG development opportunity as Woodside Louisiana LNG following the acquisition. By the first quarter of 2025, a final investment decision (FID) for the acquired project is anticipated, which will authorize subsequent development efforts. The entire allowed capacity of the development potential is 27.6 million tons annually. Woodside views the acquisition as a substantial opportunity for expansion that will strengthen the company's position in the US LNG market.

Tellurian's financial concerns will be alleviated with the money from the transaction. The business has been looking for funds to build its LNG project. It had declared intentions to pay off some of its obligations by selling its upstream holdings.