Driftwood

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 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.

Vital Energy Provides Select Preliminary Third-Quarter 2023 Results

Retrieved on: 
Wednesday, October 11, 2023
OK, NYSE, MBO, Forge, Driftwood, Vitalism, Total, Webcast, Exercise, Investment, Sale, Security (finance), Cryptocurrency

TULSA, OK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided select preliminary results for third-quarter 2023, including average daily total and oil production and incurred capital investments. Details for the Company’s third-quarter 2023 earnings release and conference call are provided within this release.

Key Points: 
  • TULSA, OK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided select preliminary results for third-quarter 2023, including average daily total and oil production and incurred capital investments.
  • Details for the Company’s third-quarter 2023 earnings release and conference call are provided within this release.
  • The Company’s third-quarter 2023 total production averaged approximately 101.3 thousand barrels of oil equivalent per day ("MBOE/d"), above guidance of 94.0 - 98.0 MBOE/d.
  • Vital Energy plans to report complete third-quarter 2023 financial and operating results after market close on Thursday, November 2, 2023, and host a conference call and webcast at 7:30 a.m. CT on Friday, November 3, 2023.

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.

Vital Energy Provides Select Preliminary Second-Quarter 2023 Results and Increases Full-Year 2023 Production Outlook

Retrieved on: 
Tuesday, July 11, 2023
Investment, OK, Forge, MBO, Driftwood, Acquisition, Vitalism, NYSE, Cryptocurrency

TULSA, OK, July 11, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided select preliminary results for second-quarter 2023, including average production and incurred capital investments. The Company has increased its expectations for full-year 2023 production, driven by the strong production performance in the second quarter. The Company also provided expectations for production and capital investments associated with the closing of the Forge Energy II Delaware, LLC ("Forge") acquisition. Details for the Company’s second-quarter 2023 earnings release and conference call are provided within this release.

Key Points: 
  • TULSA, OK, July 11, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided select preliminary results for second-quarter 2023, including average production and incurred capital investments.
  • The Company has increased its expectations for full-year 2023 production, driven by the strong production performance in the second quarter.
  • Production.
  • Production.

Vital Energy Reports First-Quarter 2023 Financial and Operating Results

Retrieved on: 
Tuesday, May 9, 2023
Investment, TIL, Culture, Vitalism, Driftwood, G&A, GAAP, Forecasting, Public expenditure, State Administrative Expenses, Acquisition, Natural gas, LTIP, CO2, BOE, Consolidated, NYSE, Oil, Arms industry, Bank, Airline, Rare-earth element

TULSA, Okla., May 09, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported its first-quarter 2023 financial and operating results.

Key Points: 
  • TULSA, Okla., May 09, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today reported its first-quarter 2023 financial and operating results.
  • A conference call and webcast to discuss the results is planned for 7:30 a.m. CT, Wednesday, May 10, 2023.
  • 1Non-GAAP financial measure; please see supplemental reconciliations of GAAP to non-GAAP financial measures at the end of this release.
  • Vital Energy plans to operate two drilling rigs and one completions crew throughout the remainder of 2023.

Vital Energy Provides Select Preliminary First-Quarter 2023 Results and Increases Expectations for Full-Year 2023 Production

Retrieved on: 
Monday, April 10, 2023
Investment, Public expenditure, Weather, OK, MBO, Driftwood, Acquisition, Vitalism, NYSE, Rare-earth element, Cryptocurrency

TULSA, OK, April 10, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided an update on first-quarter 2023 expected average production and incurred capital investments. As a result of strong performance in the first quarter and closing of the Driftwood Energy Operation, LLC ("Driftwood") acquisition, Vital Energy updated its expectations for full-year 2023 production. The Company also scheduled its first-quarter 2023 earnings release and conference call with details provided within this release.

Key Points: 
  • TULSA, OK, April 10, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today provided an update on first-quarter 2023 expected average production and incurred capital investments.
  • As a result of strong performance in the first quarter and closing of the Driftwood Energy Operation, LLC ("Driftwood") acquisition, Vital Energy updated its expectations for full-year 2023 production.
  • The Company also scheduled its first-quarter 2023 earnings release and conference call with details provided within this release.
  • Production.

Vital Energy Announces Fourth-Quarter 2022 Financial and Operating Results

Retrieved on: 
Tuesday, February 21, 2023
Public expenditure, MBO, State Administrative Expenses, Cash flow, Free cash flow, NYSE, Acquisition, GAAP, WTI, Investment, G&A, ESG, Vitalism, LTIP, BOE, TIL, Driftwood, OK, Cryptocurrency, Pharmaceutical industry, Oil, Natural gas, Bank, Retail, Arms industry, Airline

TULSA, OK, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today announced its fourth-quarter 2022 financial and operating results and provided its 2023 outlook.

Key Points: 
  • TULSA, OK, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital Energy" or the "Company") today announced its fourth-quarter 2022 financial and operating results and provided its 2023 outlook.
  • "The assets we acquired since 2019 enabled Vital Energy to capitalize on higher oil prices, drive higher margins, and generate $220 million in Free Cash Flow in 2022.
  • On February 14, 2023, Vital Energy announced the acquisition of oil-weighted production and inventory from Driftwood Energy for consideration of ~1.58 million shares of Vital Energy common stock and $127.6 million in cash.
  • In 2022, Vital Energy organically replaced a majority of wells developed during the year, adding ~35 oil-weighted locations.

Vital Energy Announces Midland Basin Acquisition

Retrieved on: 
Tuesday, February 14, 2023
Sale, NYSE, Vitalism, OK, Driftwood, Cryptocurrency

TULSA, OK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital" or the "Company") today announced the signing of a definitive purchase and sale agreement to acquire the assets of Driftwood Energy Operating, LLC ("Driftwood"), inclusive of all leasehold interests and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6 million of cash.

Key Points: 
  • TULSA, OK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Vital Energy, Inc. (NYSE: VTLE) ("Vital" or the "Company") today announced the signing of a definitive purchase and sale agreement to acquire the assets of Driftwood Energy Operating, LLC ("Driftwood"), inclusive of all leasehold interests and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6 million of cash.
  • The transaction is expected to close early April 2023 with an effective date of January 1, 2023, subject to customary closing conditions.
  • 1Non-GAAP financial measure; please see definitions of non-GAAP financial measures at the end of this release.
  • Houlihan Lokey is serving as financial advisor to Vital.