Transaction with Related Parties
|12 Months Ended|
Dec. 31, 2017
|Related Party Transactions [Abstract]|
|Transaction with Related Parties||
NOTE 4 — TRANSACTIONS WITH RELATED PARTIES
Accounts Receivable due from Related Parties
Tellurian’s accounts receivable due from related parties primarily consists of tax indemnities from employees who received share-based compensation.
Accounts Payable due to Related Parties
In December 2017, Tellurian and Martin Houston, a major shareholder and Vice Chairman of the Company, agreed to mutually discharge $0.3 million owed by Tellurian to entities partially owned by Mr. Houston.
Non-current Note Receivable due from Related Party
In July 2017, the $0.3 million non-current note receivable due from Mr. Houston was repaid in full, and the demand note evidencing the receivable was canceled.
During the year ended December 31, 2017, the Company incurred $0.7 million in legal fees to a law firm for advice associated with a lawsuit that was settled in April 2017. A member of our board of directors is a partner at such law firm.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/presentationRef