March 18 (Reuters) - Tellurian said on Monday
it was looking at all options, including a potential sale, and
that CEO Octavio Simoes had stepped down from his role, amid the
liquefied natural gas developer's efforts to keep its Driftwood
export project alive.
The company earlier this year had hired Lazard ( LAZ ) to explore a
sale of its Haynesville upstream business in East Texas and
Louisiana as part of efforts to raise capital for the Driftwood
project.
Lazard ( LAZ ) will now also focus on alternative debt and equity
financing, the sale of equity interests in Driftwood or
Tellurian, a potential sale of the company, and assisting in
securing commercial partners, Tellurian said on Monday.
Simoes, who resigned on March 15, has transitioned to an
advisory role and will report to the company's president. He
will retire in June. The company had previously said it would
not renew or extend his employment term beyond June 5.
Samik Mukherjee, executive vice president of Driftwood
Assets, has been appointed as president of Tellurian
Investments.
He will be in charge of development of all Tellurian's
assets, including upstream, Driftwood LNG and pipeline.
The change is the latest top level reshuffle at Tellurian
after it ousted chairman and co-founder Charif Souki late last
year.
The company said it could sell up to $366.1 million shares
from time to time through distribution agency Virtu Americas.
(Reporting by Mrinalika Roy and Seher Dareen in Bengaluru;
Editing by Shilpi Majumdar and Sriraj Kalluvila)