US LNG developer Tellurian sends production workers home amid sale talks
01/05/2024 18:44
May 1 (Reuters) - U.S. liquefied natural gas (LNG)
developer Tellurian Inc. TELL.A has sent home more than a
dozen workers from its upstream gas production business,
according to three people familiar with the matter.
The Houston-based company has been holding talks with
potential buyers to sell its Haynesville shale gas business to
raise capital for its proposed Driftwood LNG export plant. A
deadline for submitting bids for the property is today, one of
the people said.
Analysts have said the gas production business could be
worth $365 million. However, U.S. natural gas prices have fallen
significantly from 2022 levels and traded on Wednesday at about
$1.94 per million British thermal units (mmBtu) down from an
average of $6.50 per mmBtu for 2022.
(Reporting by Curtis Williams in Houston and Tanay Dhumal in
Bengaluru)
((Gary.McWilliams@thomsonreuters.com; +1 469-691-7668;))