Post Tagged with: "sales and purchase agreement"

Source: Royal Dutch Shell

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in Tellurian subsidiary Driftwood Holdings L.P. In addition, Total Gas & Power has entered into a sales and purchase agreement (SPA) with Tellurian to acquire an added 1.5 Mtpa of LNG offtake volumes from Driftwood. The SPA is for the purchase of LNG free on board at a price based on the Platts Japan Korea Marker. Source: Driftwood LNG The terms of the… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Source: W&T Offshore

W&T Offshore Enters $200 Million PSA

By Tyler Losier, Energy Reporter, Oil & Gas 360 W&T Offshore to purchase Gulf of Mexico interests from ExxonMobil for $200 million W&T Offshore, Inc. (stock ticker: WTI), a Houston-based independent E&P, has entered into a sales and purchase agreement with ExxonMobil to acquire the company’s interests located off the coast of Alabama in the Gulf of Mexico. The transaction, which has a price tag of $200 million, includes working interests in nine offshore producing fields and an onshore treating facility, all of which are immediately adjacent to W&T’s existing assets. The acquisition will bolster the company’s net proved reserves by 74 million BOE, with 99% of those resources considered proved developed produci… Login or click here to subscribe