MERGER (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Total Consideration Exchanged

The total consideration exchanged was as follows (in thousands, except share and per-share amounts):



Number of shares of Magellan common stock outstanding ⁽¹⁾	5,985,042
Price per share of Magellan common stock ⁽²⁾	$	14.21
Aggregate value of Tellurian common stock issued			$	85,048
Fair value of stock options ⁽³⁾			2,821
Net purchase consideration to be allocated			$	87,869

(1) The number of shares of Magellan common stock issued and outstanding as of February 9, 2017.
(2) The closing price of Magellan common stock on the Nasdaq on February 9, 2017.
(3) The estimated fair value of Magellan stock options for pre-Merger services rendered.

Schedule of Preliminary Purchase Price Allocation to Assets Acquired and Liabilities Assumed

The purchase price allocation to assets acquired and liabilities assumed in the Merger was as follows (in thousands):



Fair Value of Assets Acquired:
Cash	$	56
Securities available-for-sale	1,111
Other current assets	93
Unproved properties	13,000
Wells in progress	332
Land, buildings and equipment, net	67
Other long-term assets	19
Total assets acquired	14,678
Fair Value of Liabilities Assumed:
Accounts payable and other liabilities	4,393
Notes payable	8
Total liabilities assumed	4,401
Total net assets acquired	10,277
Goodwill as a result of the Merger	$	77,592

Schedule of Unaudited Pro Forma Results

The following table provides unaudited pro forma results for the year ended December 31, 2017, as if the Merger occurred as of January 1, 2017 (in thousands, except per-share amounts):



Pro forma net loss	$	(235,201	)
Pro forma net loss per basic share	$	(1.24	)
Pro forma basic and diluted weighted average common shares outstanding	189,246