TELLURIAN INC. /DE/

TELLURIAN INC. /DE/ deregistered its securities, ending its obligation to file reports with the SEC.

listing compliance notice

TELLURIAN INC. /DE/'s securities were notified for removal from listing and registration on its exchange.

listing compliance notice

The Woodside merger closed: every Tellurian common share converted to $1.00 cash and every Series C preferred share to $8.16489 cash, with options and equity awards cashed out on the same terms -- Tellurian's eight-year run as an independent public LNG developer, and its predecessor Magellan Petroleum's decades as a public filer, came to an end.

business combination

TELLURIAN INC. /DE/'s exchange filed to remove a class of its securities from listing.

listing compliance notice

Tellurian agreed to be acquired by Woodside Energy in an all-cash deal at $1.00 per common share (and $8.16489 per Series C preferred share) -- a fraction of the company's peak valuation, but an exit for a company that had spent years struggling to reach a final investment decision on Driftwood alone.

business combination

Tellurian sold its entire upstream Haynesville Shale gas production business in Louisiana to Aethon United for $260 million and used most of the proceeds ($240 million) to fully retire its 10% senior secured notes due 2025 -- effectively abandoning the integrated upstream-plus-LNG strategy built since 2017 in favor of shoring up the balance sheet.

asset acquisition disposition

Tellurian raised $333.3 million in new senior secured and convertible notes specifically to redeem the $333.3 million of 6% convertible notes it had issued in June 2022 -- refinancing its largest existing debt rather than retiring it.

capital raising announcement

Tellurian upgraded April's non-binding land sale-leaseback letter of intent into a binding commitment letter with a Blue Owl Real Estate Capital fund, on essentially the same $1.0 billion, 40-year terms.

material agreement termination

Tellurian signed a letter of intent to sell roughly 800 acres of Driftwood LNG's Louisiana land to an institutional investor for $1.0 billion and lease it back for 40 years -- a sale-leaseback structure aimed at raising a large chunk of Driftwood's construction financing without further diluting shareholders.

material agreement

Both Shell and Vitol terminated their LNG offtake agreements with Driftwood LNG -- a second major round of customer defections following TOTAL's 2021 exit, and a serious setback to the project's commercial underpinning even after last year's large capital raise.

material agreement termination

Tellurian's production subsidiary agreed to buy more Louisiana gas assets -- about 5,000 net acres and 44 producing wells in the Haynesville -- from EnSight for $125 million, continuing to expand its own upstream gas supply for Driftwood.

material agreement

Tellurian raised a very large $500 million through senior secured convertible notes (netting about $488.7 million) -- by far its biggest single capital raise, coming as global gas prices spiked following Russia's invasion of Ukraine.

security holder rights change

the exchange certified TELLURIAN INC. /DE/'s securities for listing, clearing them to begin trading.

listing compliance notice

Tellurian raised $47.1 million through its first public bond offering, $50 million of 8.25% senior notes due 2028 -- a new, higher-cost source of capital as it kept building toward a Driftwood financial close.

debt financing

TELLURIAN INC. /DE/'s securities were notified for removal from listing and registration on its exchange.

listing compliance notice

the exchange certified TELLURIAN INC. /DE/'s securities for listing, clearing them to begin trading.

listing compliance notice

Weeks after TOTAL's exit, Tellurian raised $100.7 million in a public stock offering (35 million shares at $3.00) -- the stock had recovered well above its COVID-era lows even as the company scrambled to replace TOTAL's financing.

material agreement

Driftwood LNG signed two more 10-year LNG offtake agreements, both with Shell, adding roughly 156.5 billion Btu/year combined to the customer book being rebuilt after the Gunvor and Vitol deals -- all still conditional on Driftwood reaching full construction notice-to-proceed and securing project financing.

material agreement

TOTAL walked away entirely: it terminated both its 2019 $200 million common stock purchase agreement and its $500 million Driftwood Holdings equity commitment, along with the associated LNG offtake agreement -- ending Tellurian's five-year relationship with its largest and most important strategic partner.

material agreement termination

Driftwood LNG signed a second 10-year offtake agreement, this one with trading house Vitol for the same roughly 156.5 billion Btu/year, on the same financing-contingent terms as the Gunvor deal.

material agreement

Driftwood LNG signed a 10-year LNG sale and purchase agreement with commodities trader Gunvor for about 156.5 billion Btu/year, conditional on Driftwood reaching full construction notice-to-proceed with Bechtel and securing project financing -- the first of several new offtake deals as Tellurian rebuilt its customer book.

material agreement

Tellurian raised $32.5 million by selling 35 million shares at just $1.00 each -- a price reflecting how far the stock had fallen since 2019, and another heavily dilutive capital raise.

material agreement

Tellurian raised $47.3 million in emergency financing via a $56 million senior unsecured note plus warrants on 20 million shares (exercise price $1.542) -- expensive, dilutive capital raised amid the COVID oil crash.

capital raising announcement

As COVID-19 hammered oil and gas prices, Driftwood Holdings had to prepay $2 million of its 2019 term loan and hand its lender 11 million shares of Tellurian stock just to get relief on fees and an extended maturity -- an early sign of real financial strain.

capital raising announcement

TOTAL signed a definitive agreement to invest $500 million directly in the Driftwood Holdings partnership plus long-term LNG offtake rights (1.0 mtpa, with an option on 1.5 mtpa more), converting April's non-binding Heads of Agreement into a firm commitment -- Tellurian's largest financing milestone yet.

material agreement

TOTAL agreed to invest a further $200 million in Tellurian common stock, but only if Tellurian reached a final investment decision on Driftwood Phase 1 and separately paid $1.0 billion for a 7.2% stake in the project entity, Driftwood Holdings LP -- a much larger, more conditional commitment than TOTAL's 2016 investment.

capital raising announcement

Tellurian raised about $115.1 million in another public stock offering (12 million shares) underwritten by Credit Suisse, continuing to build cash reserves for Driftwood's development.

material agreement

Bechtel itself became a Tellurian shareholder, buying 6.1 million shares of a new Series C convertible preferred stock -- aligning its interests as Driftwood's EPC contractor with an equity stake in the project's success.

capital raising announcement

Tellurian raised roughly $94.8 million in a public stock offering (10 million shares at $10.00) underwritten by Credit Suisse, adding to the capital base being built for Driftwood.

material agreement

Driftwood LNG signed four lump-sum EPC agreements with Bechtel to build the Driftwood LNG terminal in phases -- up to roughly 22 million tonnes per year of total capacity -- by far the largest and most consequential commitment yet in the Driftwood project's development.

material agreement

Tellurian's production subsidiary agreed to buy roughly 9,200 net acres and 19 producing gas wells in northern Louisiana for $85.1 million, the start of Tellurian building its own upstream gas supply to feed the planned Driftwood LNG terminal.

material agreement

The merger closed: Magellan Petroleum renamed itself Tellurian Inc., and Tellurian Investments (the accounting acquirer in this reverse merger) became its operating subsidiary -- the company's identity, leadership and strategy had now fully shifted from legacy oil and gas to LNG development.

business combination

TOTAL's $207 million common stock purchase closed, along with a guaranty from Magellan and a voting agreement binding Tellurian founders Charif Souki and Martin Houston to support a TOTAL board seat -- TOTAL's investment and influence were now locked in ahead of the merger's close.

business combination

TOTAL S.A., through TOTAL Delaware, agreed to invest $207 million in Tellurian Investments common stock and secured a board seat in the combined company -- a far larger strategic commitment than GE's, and the beginning of what would become Tellurian's central financing relationship.

business combination

GE Oil & Gas invested $25 million in Tellurian Investments' preferred stock, and the merger agreement was amended to accommodate the deal and extend the closing deadline to January 2017 -- the first outside strategic capital into the pre-merger Tellurian.

business combination

Two days after shedding its last oil and gas assets, Magellan signed a merger agreement to combine with Tellurian Investments Inc., the LNG development company co-founded by former Cheniere Energy executives -- the company's entire board and CEO agreed to resign at closing, handing control to the incoming Tellurian team.

business combination

The One Stone exchange closed: Magellan handed over 100% of Nautilus Poplar (its Montana oil production) and 51% of Utah CO2 LLC in return for cancelling all of its own Series A preferred stock, plus $900,000 cash from One Stone -- Magellan exited US oil production for good, clearing the way for a very different next chapter.

asset acquisition disposition

Magellan borrowed $625,000 from One Stone Holdings II LP to fund transaction costs tied to an Exchange Agreement in which One Stone would hand back all of Magellan's Series A preferred stock in return for taking Magellan's entire US oil and gas subsidiary, Nautilus Poplar, and 51% of another subsidiary -- Magellan was preparing to exit US production entirely.

capital raising announcement

The Palm Valley/Dingo sale to Central Petroleum closed, with Magellan receiving AUD $15 million cash and 39.5 million Central shares (worth about AUD $20.7 million) at completion -- ending Magellan's decades-long presence in Australia's Amadeus Basin.

asset acquisition disposition

Magellan agreed to sell its entire Palm Valley and Dingo gas field position -- the Amadeus Basin assets it had just consolidated in 2012 -- to Central Petroleum for AUD $35 million in cash and stock, exiting Australian gas production entirely.

material agreement

Magellan's Dingo gas field won a 20-year, take-or-pay supply contract with the Northern Territory's power utility for up to 31 petajoules of gas, giving the newly consolidated Palm Valley/Dingo position a long-term anchor customer.

material agreement

Magellan swapped assets with Santos, taking full ownership of the Palm Valley and Dingo gas fields in Australia's Amadeus Basin in exchange for giving up its 35% stake in the Mereenie field -- consolidating rather than expanding its Australian footprint.

asset acquisition disposition

Magellan sold VAALCO Energy a path to a 65% working interest in the deeper Bakken and Red River zones under its Montana Poplar Field for $5 million cash, with VAALCO obligated to drill three wells by end-2012 to earn the interest -- a farm-out that brought in cash while VAALCO took on the deep-zone exploration risk.

asset acquisition disposition

The Evans Shoal gas field purchase from Santos was terminated by mutual release after repeated closing extensions; Magellan got back its A$10 million escrow deposit with accrued interest, ending the deal without penalty.

material agreement termination

Magellan's board approved amended terms with strategic investor Young Energy Prize S.A. (led by director Nikolay Bogachev) that would raise Bogachev and YEP's combined stake toward roughly 30% of the company -- deepening a related-party financing relationship first struck in 2010.

material agreement

Magellan agreed to sell $15.6 million more stock to strategic investor Young Energy Prize S.A., which would raise director Nikolay Bogachev and YEP's combined stake toward roughly 33% of the company -- a further deepening of a financing relationship already flagged as related-party.

capital raising announcement

Magellan agreed to buy Santos's 40% interest in the large, undeveloped Evans Shoal gas field offshore Australia for A$100 million plus up to A$100 million more in contingent payments -- a major bet on an already-discovered but never-developed 1980s-era gas field.

material agreement

Magellan Petroleum acquired an 83.5% controlling stake in Nautilus Poplar LLC, owner of the East and Northwest Poplar oil fields in Montana, for $10.9 million ($7.3 million cash plus 1.7 million shares) -- Magellan's entry into US onshore production.

asset acquisition disposition