According to the company’s website press release on September 23, 2022, Tellurian Inc. (Tellurian) (NYSE American: TELL) announced that it has updated its Driftwood LNG financing strategy to prioritize securing equity partners. Part of this strategy includes introducing flexibility in its liquefied natural gas portfolio with the termination of two current sales and purchase agreements.
President and CEO Octávio Simões said, “The potential corporate and strategic partners Tellurian is seeking may want liquefied natural gas (LNG) volumes that they can sell globally and now the company has some capacity to offer that option. Tellurian has made good progress on the construction plan and will continue funding that with cash and operating cash flow.”
Simões added, “What has not changed for Tellurian is an operating natural gas producer with revenue from gas sales. Last quarter Tellurian produced nine billion cubic feet of natural gas and had over $61 million in sales, and since then Tellurian has closed the EnSight acquisition. Currently Tellurian has 11 natural gas wells in various stages of completion and therefore expect a significant increase in production and sales next quarter. In addition, the company will add to value when Tellurian fully permitted Driftwood LNG project is completed, and Tellurian can reach the global markets with LNG sales at global prices.”
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
For more information, please visit www.tellurianinc.com.
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