Woodside Energy to Acquire Tellurian for $900 Million at $1 Per Share, Including Driftwood LNG

Jul 21, 2024, 11:52 PM

Woodside Energy has announced its acquisition of US-based liquefied natural gas (LNG) developer Tellurian for approximately $900 million in an all-cash transaction at $1 per share. The acquisition price represents a 75% premium to Tellurian’s closing price on July 19, 2024, and a 48% premium to Tellurian’s 30-day volume weighted average price. The total enterprise value of the deal is $1.2 billion. The deal also includes the Driftwood LNG export project in Louisiana, which has faced development challenges. Woodside aims to strengthen its position in the global LNG market and expects growing demand for gas to complement renewable energy sources.