Tellurian Inc

Tellurian reports first quarter 2024 results and Driftwood LNG progress

Retrieved on: 
Thursday, May 2, 2024
Energy, Other Energy, Oil, Gas, Tellurian Inc, Corps, Inc., Engineer

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) continued making progress on Driftwood LNG phase one construction with Bechtel.

Key Points: 
  • Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) continued making progress on Driftwood LNG phase one construction with Bechtel.
  • Executive Chairman Martin Houston said, “Over the past few months, our senior team has sharpened its focus on stability, financial discipline and execution, and we are laser-focused on bringing Driftwood to final investment decision.
  • Tellurian generated approximately $25.5 million in natural gas revenues in the first quarter of 2024, driven by decreased realized natural gas prices and production volumes, compared to $50.9 million in the first quarter of 2023.
  • As of March 31, 2024, Tellurian had approximately $1.3 billion in total assets, including approximately $51.8 million of cash and cash equivalents.

Tellurian Makes Leadership Changes

Retrieved on: 
Monday, March 18, 2024
Energy, Other Energy, Oil, Gas, Tellurian Inc, Government, Inc., Safety

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today the following leadership changes:

Key Points: 
  • Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today the following leadership changes:
    Executive Vice President and President of Driftwood Assets, Samik Mukherjee, has been appointed President of Tellurian Investments, and has responsibility for the development of all Tellurian’s assets, including upstream, Driftwood LNG and pipeline, as well as permitting, safety and asset integrity.
  • Daniel Belhumeur, President of Tellurian Inc., retains accountability for finance, investor relations, legal, public and government affairs and human resources.
  • Tellurian Chief Executive Officer Octávio Simões will move into an advisory role, and as previously announced, is to retire in June 2024.
  • He has helped position Tellurian for the future, and we wish him the best of fortune as he transitions to retirement.”

Tellurian Reports 2023 Financial Results and Driftwood LNG Progress

Retrieved on: 
Friday, February 23, 2024
Energy, Other Energy, Oil, Gas, Tellurian Inc, ICL, Driftwood, Plant, Sale, Federal Energy Regulatory Commission, Inc., Bank statement, FERC

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) reported its full year 2023 financial results today.

Key Points: 
  • Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) reported its full year 2023 financial results today.
  • During 2023, Tellurian took significant steps to advance the Driftwood LNG project, having driven over 14,000 piles at site and making progress on concrete foundations for critical equipment thus de-risking site construction.
  • Subsequent to year end, Tellurian amended its senior secured notes and senior convertible notes to provide financial flexibility.
  • As disclosed in our financial statements, we have made significant progress in executing our plans to alleviate substantial doubt.”

Tellurian Announces Agreement for Debt Amendment to Support Upstream Asset Sale

Retrieved on: 
Thursday, February 22, 2024
Energy, Other Energy, Oil, Gas, Tellurian Inc, Sale, Inc., Security (finance)

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today an agreement for an amendment to the terms of certain debt instruments.

Key Points: 
  • Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today an agreement for an amendment to the terms of certain debt instruments.
  • The amendment is expected to enhance near-term liquidity and provide the company with flexibility to successfully complete the sale of its upstream assets.
  • Among other items, the amendment provisions include a reduction in Tellurian’s minimum cash balance requirement and the ability for the company to make its upcoming interest payments in-kind.
  • Chief Executive Officer Octávio Simões said, “This amendment to our debt agreement is pivotal towards establishing a sustainable capital structure and accelerating our strategic priority, Driftwood LNG.

Tellurian Receives FERC Extension for Driftwood LNG

Retrieved on: 
Friday, February 16, 2024
Oil, Gas, Energy, Natural gas, Tellurian Inc, Plant, Inc., Multimedia, FERC

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that the U.S. Federal Energy Regulatory Commission (FERC) has issued an extension to its order authorizing the construction of Tellurian’s Driftwood LNG facility near Lake Charles, Louisiana.

Key Points: 
  • Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that the U.S. Federal Energy Regulatory Commission (FERC) has issued an extension to its order authorizing the construction of Tellurian’s Driftwood LNG facility near Lake Charles, Louisiana.
  • Tellurian applied for the extension last year to ensure it had enough time to complete the construction of all five plants of the facility.
  • View the full release here: https://www.businesswire.com/news/home/20240214672559/en/
    Driftwood LNG January 2024 (Photo: Business Wire)
    Chief Executive Officer Octávio Simões said, “Tellurian thanks FERC for working with our team to ensure the safe construction of Driftwood LNG.
  • FERC has been diligent in its oversight, having visited the site 19 times already, and provided careful examination of this extension request.

Tellurian Explores Sale of Haynesville Upstream Assets

Retrieved on: 
Tuesday, February 6, 2024
Oil, Gas, Energy, Inc., Multimedia, Sale, Lazard, LNG, Natural gas, Tellurian Inc, Carbon

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today it has asked its financial advisor, Lazard, to explore opportunities for the sale of Tellurian’s upstream business.

Key Points: 
  • Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today it has asked its financial advisor, Lazard, to explore opportunities for the sale of Tellurian’s upstream business.
  • We have concluded that there are alternative gas supply strategies available to us from various basins and our ownership of upstream assets is not necessary at this stage of Tellurian’s development.
  • Tellurian produced 19.5 billion cubic feet (Bcf) of natural gas for the quarter ended September 30, 2023.
  • Tellurian’s natural gas assets include 31,149 net acres, interests in 159 producing wells and over 400 drilling locations.

Tellurian Board of Directors names Daniel Belhumeur as President, Meredith Mouer as General Counsel and Chief Compliance Officer

Retrieved on: 
Monday, December 11, 2023
Energy, Utilities, Oil, Gas, Vice, Andrews Kurth, NYSE, EnQuest, General counsel, BG Group, Public Interest Declassification Board, Driftwood, BUPA, Cheniere Energy, Severn Trent, Inc., Tellurian Inc, Management, Tellurian

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) announced today that following the appointment of Martin J. Houston as Chairman of the Board, the Board of Directors has named former General Counsel Daniel Belhumeur as President of Tellurian, and former Deputy General Counsel Meredith Mouer as General Counsel and Chief Compliance Officer of Tellurian.

Key Points: 
  • Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) announced today that following the appointment of Martin J. Houston as Chairman of the Board, the Board of Directors has named former General Counsel Daniel Belhumeur as President of Tellurian, and former Deputy General Counsel Meredith Mouer as General Counsel and Chief Compliance Officer of Tellurian.
  • Chief Executive Officer Octávio Simões said, “This is an important moment for Tellurian as we navigate several key initiatives.
  • Mr. Belhumeur has served as the General Counsel of Tellurian since February 2017 and as Chief Compliance Officer since March 2017.
  • Prior to joining Tellurian, he served as Vice President, Tax and General Tax Counsel, Tax Director and Domestic Tax Counsel at Cheniere Energy, Inc.
    Ms. Mouer has served as Deputy General Counsel since February 2017, and was formerly a partner at Andrews Kurth LLP.

Martin Houston Becomes Chairman of Tellurian Inc.

Retrieved on: 
Friday, December 8, 2023
Energy, Utilities, Oil, Gas, NYSE, Inc., Tellurian Inc, Entrepreneurship, Management, Insurance, Tellurian

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) announced today that its Board of Directors has named Martin Houston, Co-Founder and Vice Chairman, to be Chairman of the Board of Directors.

Key Points: 
  • Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) announced today that its Board of Directors has named Martin Houston, Co-Founder and Vice Chairman, to be Chairman of the Board of Directors.
  • Co-Founder Charif Souki will no longer serve as an executive or officer of the Company or hold any managerial responsibilities.
  • Mr. Souki remains a member of the Board of Directors.
  • These changes are not the result of any material or unexpected financial events.

Tellurian and Baker Hughes Announce Agreement for Driftwood LNG Phase 1 Liquefaction Equipment

Retrieved on: 
Wednesday, September 6, 2023
Tellurian Inc, ICL, Driftwood, Natural gas, NYSE, LNG

SINGAPORE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Tellurian Inc. (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) announced Wednesday an agreement to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project.

Key Points: 
  • SINGAPORE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Tellurian Inc. (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) announced Wednesday an agreement to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project.
  • The agreement secures a delivery schedule for the eight LM6000PF+ gas turbines, main refrigerant compressors, and control units required for Phase 1, supporting Driftwood’s ability to achieve initial liquefied natural gas (LNG) production in 2027.
  • Baker Hughes is also on schedule to complete, by early next year, fabrication of the electric-powered, zero-emissions Integrated Compressor Line (ICL) packages and other turbomachinery equipment for Driftwood Pipeline 200, following the award in 2022 .
  • This agreement with Baker Hughes firms up our plans to secure the critical technology for Driftwood Phase 1.

Tellurian and Baker Hughes Announce Agreement for Driftwood LNG Phase 1 Liquefaction Equipment

Retrieved on: 
Wednesday, September 6, 2023
Machinery, Energy, Manufacturing, Oil, Gas, Tellurian Inc, Inc., ICL, Driftwood, Multimedia, Natural gas, NYSE, Tellurian, LNG

Tellurian Inc. (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) announced Wednesday an agreement to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project.

Key Points: 
  • Tellurian Inc. (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) announced Wednesday an agreement to supply eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project.
  • The agreement secures a delivery schedule for the eight LM6000PF+ gas turbines, main refrigerant compressors, and control units required for Phase 1, supporting Driftwood’s ability to achieve initial liquefied natural gas (LNG) production in 2027.
  • Tellurian President and CEO Octávio Simões said, “Bechtel has done a tremendous job preparing the site and has already completed the piling and compressor foundations for Plant 1 of Driftwood LNG.
  • This agreement with Baker Hughes firms up our plans to secure the critical technology for Driftwood Phase 1.