Tellurian to not extend CEO Octavio Simoes employment term

Reuters
2024.03.04 12:25

Tellurian Inc will not extend the employment term of CEO Octavio Simoes beyond June 5, 2024. The company plans to sell its upstream business to reduce debt and remains committed to developing Driftwood LNG. There is keen interest from quality buyers for its Haynesville and Bossier assets.

March 4 (Reuters) - Tellurian Inc (TELL.A) :

  • TELLURIAN INC: BOARD ELECTED NOT TO RENEW OR EXTEND TERM OF EMPLOYMENT AGREEMENT WITH OCTÁVIO SIMÕES, CEO BEYOND TERM ENDING ON JUNE 5, 2024

  • TELLURIAN INC - ON FEBRUARY 27 BOARD OF COMPANY APPOINTED CHAIRMAN OF BOARD MARTIN HOUSTON TO POSITION OF EXECUTIVE CHAIRMAN

  • TELLURIAN INC - WITH HELP OF LAZARD, WE AIM TO SELL UPSTREAM BUSINESS

  • TELLURIAN INC - EXPECT TO USE PROCEEDS FROM OUR UPSTREAM SALE TO REDUCE OUR INDEBTEDNESS

  • TELLURIAN INC - REMAIN STEADFAST IN COMMITMENT TO DEVELOPING DRIFTWOOD LNG, WHICH WILL SUPPLY LOW-COST US-SOURCED LNG TO GLOBAL MARKETS

  • TELLURIAN INC: FOR HAYNESVILLE AND BOSSIER ASSETS WE KNOW FIRST-HAND THAT “THERE IS KEEN INTEREST FROM QUALITY BUYERS”

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