Published on 7 Oct 2024 on TipRanks · via Yahoo Finance
Woodside Energy Completes Acquisition of Tellurian Inc.
Tellurian ( (TELL) ) has provided an announcement.
Woodside Energy Group Ltd has completed the acquisition of Tellurian Inc., purchasing all issued and outstanding common stock for roughly $900 million, or $1.00 per share, resulting in an implied enterprise value of around $1,200 million. This acquisition includes the under-construction Driftwood LNG development opportunity in Louisiana, which has been renamed to Woodside Louisiana LNG, boasting a scalable capacity of 27.6 million tonnes per annum. The transaction marks a significant expansion for Woodside in the US LNG market and is part of a strategic direction to enhance its global customer service and capture market opportunities. The Tellurian team and Bechtel have made substantial progress, with a targeted final investment decision by the first quarter of 2025.