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Tellurian Upstream Sale: On To Greener Pastures

Novi

Below, we reflect on the deal and walk through what might be next for the play now that gas prices are back in the mid $2/Mcf range. We ran a scenario analysis that ranged from ~$140MM up to ~$415MM with a median case of $260MM, relatively close to the actual closing price of $264.5MM. Bcf/d in Q1/24.