A wholly-owned subsidiary of Tellurian has entered into an agreement with a private seller to acquire natural gas producing assets and undeveloped acreage in northern Louisiana for $85.1M. The transaction is scheduled to close by the end of November 2017 subject to customary closing conditions. Assets include: 9,200 net acres with up to 138 operated Haynesville and Bossier drilling locations, approximately 1.3T cubic feet of total natural gas resource potential, 19 producing operated wells with net current production of 4M cubic feet per day, associated natural gas gathering and processing facilities with substantial additional capacity. The assets are 100% held by production and 92% operated, allowing Tellurian to control the pace of development for its multi-year drilling inventory. Covering more than 5M acres, the Haynesville shale is one of the most "prolific" resource plays in the United States with over 13T cubic feet of historical production, more than 44 active drilling rigs, access to multiple pipelines and close proximity to Gulf Coast consumers and exporters.
