Tellurian (NASDAQ:TELLagrees to acquire natural gas producing assets and undeveloped acreage in northern Louisiana's Haynesville Shale from an unnamed private seller for $85M.

The assets include 9,200 net acres with up to 138 operated drilling locations, ~1.3T cf of total natural gas resource potential, 19 producing operated wells with net current production of 4M cf/day, and associated natural gas gathering and processing facilities with substantial additional capacity; the assets are 100% held by production and 92% operated.

TELL expects full cycle cost of production and transport to markets of ~$2.25/MMBtu, which represents a significant savings to current natural gas prices.

Read more: https://seekingalpha.com/news/3294004-tellurian-buy-core-haynesvill...

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At less than $9,250 per acre, it has to be Tier 2 or 3 rock on the outer fringe of the play.  It is however a nice vote for the future of natural gas prices.  I'll guess QEP (formerly Questar) much of their leasehold is in the northeast corner of the defined fairway and in Bienville Parish.

Didn't Samson recently sell their Haynesville leasehold to Rockcliff? 

https://www.bizjournals.com/houston/news/2017/08/02/houston-energy-...

We (Harrison/Panola) recently signed assignment documents from Samson to Rockcliff. 

Rockcliffe bought my Samson wells, they've already contacted me

It may be that Rockcliff sold the old Samson Louisiana leasehold to Tellurian  and kept the Texas leasehold.  The three parishes: Red River, Natchitoches and DeSoto is a fit for the Samson Contour producing Haynesville wells.  I can't think of any other operator footprint that would fit the scenario.  Nor can I think of one that would want this acreage.  It's generally of poor quality but that would also fit the bargain basement price paid.  Tellurian is an LNG company started by Charif Souki after he was ousted from Cheniere.

boy oh boy skip, you really know how to make us Samson owners feel good about our properties LOL

Sorry, olddog but I call 'em as I see 'em.  Okay, I'll change "poor" to "lesser" quality if that will help.  :-)

poor makes my wallet hurt, lesser is easier to deal with :)

I'm glad that helps.  LOL!

I guess its a little early but does tellurian have any experience drilling?

Not that I am aware of.  Of course they can always go out and hire a contract operator with Haynesville Shale experience.  It is not often discussed but Indigo employs a contract operator, Brammer Engineering.

I just read another article on this and they don't plan on bringing their LNG plant up until 2022.  May not be a bad thing to have tier 2 and tier 3 rock seeing as how a lot of the tier 1 acreage is being and has been drilled heavily over the last couple of years at low gas prices :) 

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