Tellurian rises on deal to sell upstream assets to Aethon Energy for $260 mln

Tellurian

29/05/2024 12:40

** Shares of LNG firm Tellurian Inc  TELL.A  rise 10.5% to
$0.62 premarket
    ** Aethon Energy to buy Tellurian upstream assets for $260
million, the companies say
    ** Aethon to acquire Tellurian's integrated upstream assets
and purchase two million tons per annum (mtpa) of liquefied
natural gas (LNG) from TELL's Driftwood LNG plant
    ** TELL to use proceeds to reduce borrowings and for general
corporate purposes
    ** Expects deal to close during the second quarter of 2024
    ** Up to last close, TELL down ~25% YTD

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))