11:07 AM EDT, 03/18/2024 (MT Newswires) -- Tellurian (TELL) said Monday that Chief Executive Octavio Simoes will transition to an advisory role before retiring in June.

The company named president of Driftwood assets, Samik Mukherjee, as president of Tellurian Investments. Mukherjee and President Daniel Belhumeur will jointly manage Tellurian's commercial activities, the company said.

Meanwhile, Tellurian said in a filing with the US Securities and Exchange Commission that it has expanded its agreement with Lazard Freres to include the exploration of a potential company sale, among other strategic options. The company previously said Lazard would help it with exploring a sale of its upstream natural-gas assets.

Tellurian has also signed an agreement for the potential sale of up $366.1 million of its common shares from time to time through Virtu Americas, according to the filing.

The company's shares were down more than 11% in recent trading.

Price: 0.85, Change: -0.11, Percent Change: -11.45