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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tellurian Inc    TELL

TELLURIAN INC (TELL)
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Tellurian : Chesapeake Energy Held Talks on Louisiana Fields, Sources Say

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03/08/2018 | 11:30pm CEST

By Christopher M. Matthews and Stephanie Yang

Tellurian Inc. is in talks to buy Chesapeake Energy Corp.'s Louisiana drilling fields as it seeks to become a producer as well as exporter of natural gas, according to people familiar with the matter.

Chesapeake, a pioneer of the shale boom, has been selling off some of the vast holdings assembled by its late co-founder Aubrey McClendon as it struggles with low energy prices and a mountain of debt it took on to lock up drilling rights for swaths of land.

Tellurian is the latest venture by Charif Souki, who developed the first terminals to liquefy natural gas and export it from the U.S. Gulf Coast as founder of Cheniere Energy Inc. The company, which has few assets, has said it is looking to acquire drilling fields near a coastal site where it plans to build an export facility, to sell fuel overseas.

Chesapeake's Louisiana fields, located in the Haynesville shale formation, are valued at about $2 billion, according to Jefferies analysts.

The talks to purchase Chesapeake's fields could fall apart and there is no guarantee of an agreement. Tellurian has offered to Chesapeake to take equity as a part of the asset sale, something Chesapeake isn't interested in doing, people familiar with the talks said.

Tellurian has also held talks with other producers with Haynesville assets to acquire more acreage, people familiar with the matter say. Tellurian's stock closed up 1.5%, at $8.55 per share, Thursday and is down about 25% on the year.

The advent of shale drilling has flooded the U.S. with cheap energy, including vast resources of natural gas that producers have sought to export to generate electricity and heat homes around the world.

Write to Christopher M. Matthews at christopher.matthews@wsj.com and Stephanie Yang at stephanie.yang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHESAPEAKE ENERGY CORPORATION 0.68% 4.44 Delayed Quote.12.12%
TELLURIAN INC -1.42% 9.02 Delayed Quote.-7.39%
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Financials ($)
Sales 2018 11,3 M
EBIT 2018 -129 M
Net income 2018 -128 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 192x
Capi. / Sales 2019 55,6x
Capitalization 2 170 M
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Technical analysis trends TELLURIAN INC
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 13,4 $
Spread / Average Target 49%
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Managers
NameTitle
Meg A. Gentle President, Chief Executive Officer & Director
Charif Souki Chairman
R. Keith Teague Chief Operating Officer & Executive Vice President
Antoine J. Lafargue Chief Financial Officer & Senior Vice President
Martin Joseph Houston Vice Chairman
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