Akin Advises Tellurian in $260 Million Sale of Integrated Upstream Assets and a Heads of Agreement for Two mtpa of LNG from Driftwood LNG
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(Houston) – Akin advised Tellurian Inc. in the sale of its integrated upstream assets in the Louisiana Haynesville and Bossier shale basins for $260 million to Aethon Energy Management LLC. Tellurian and Aethon have also entered into a non-binding Heads of Agreement for Aethon to purchase two million tons per annum of liquified natural gas (LNG) from Tellurian’s Driftwood LNG plant.
The Heads of Agreement contemplates the parties negotiating a 20-year offtake agreement which would be indexed to Henry Hub plus a liquefaction fee, with appropriate credit support, to provide the basis for project financing of Driftwood LNG.
The Akin team was led by energy partner Jim Wetwiska and mergers & acquisitions counsel Dasha Hodge and included energy partner Cole Bredthauer; mergers & acquisitions counsel Kevin Tsai and associates Courtney Beloin and Brannen Caraway.
Further information on the transaction can be found here.
Akin is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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