Articles from Tellurian Inc.

Tellurian Inc. (“Tellurian”) (NYSE American: TELL) today announced that its stockholders have approved the Merger Agreement Proposal, as defined in Tellurian’s proxy statement, filed with the Securities and Exchange Commission (the “SEC”) on August 27, 2024, for its Special Meeting of Stockholders.

Tellurian Inc. (“Tellurian”) (NYSE American: TELL) today announced that it has entered into a definitive agreement with subsidiaries of Woodside Energy Group Ltd (“Woodside”) (ASX: WDS) pursuant to which Woodside will acquire all the outstanding shares of Tellurian for $1.00 per share in an all-cash transaction.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) announced today that it has closed the previously reported sale of its integrated upstream assets for $260 million to affiliates of Aethon Energy Management LLC (Aethon), fulfilling a key objective outlined in May and substantially strengthening its balance sheet as it advances the Driftwood liquefied natural gas (LNG) project. The Company utilized proceeds from the sale to retire the $230 million of non-convertible Senior Secured Notes scheduled to mature in 2025.

Tellurian Inc. (NYSE American: TELL) and Aethon Energy Management LLC (Aethon) announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million, alongside a Heads of Agreement for Aethon to purchase two million tons per annum (mtpa) of liquified natural gas (LNG) from Tellurian’s Driftwood LNG plant.

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

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

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. Tellurian also secured the Federal Energy Regulatory Commission (FERC) Certificate for the Company’s pipelines (Lines 200 and 300) and continued to advance the fabrication of Baker Hughes zero-emissions ICL compressors for the pipeline.

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.

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. As extended, the order requires construction to be completed by April 18, 2029. Tellurian applied for the extension last year to ensure it had enough time to complete the construction of all five plants of the facility. When completed, the facility will have a capacity of ~27.6 million tonnes per annum (mtpa).

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.

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.

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.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) continues to progress the production and sales of natural gas and the financing and construction of its Driftwood project.

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 Inc. (Tellurian or the Company) (NYSE American: TELL) continues to execute its integrated strategy by progressing construction of its Driftwood project and through production and sales of natural gas.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced that Simon Oxley will join Tellurian’s Executive Committee on June 1, 2023 as Executive Vice President and Chief Financial Officer, with responsibility for accounting, finance, risk, and investor relations functions. Mr. Oxley was formerly a Managing Director and Co-Head of Oil & Gas Investment Banking for Europe, the Middle East, and Asia (EMEA) with Barclays Investment Bank in London, and has a Chemical Engineering degree from The University of Edinburgh, as well as a Master of Science in Corporate and International Finance from Durham University Business School.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) continued making progress on Driftwood LNG phase one construction, added to natural gas acreage, production and sales, and repaid $166.7 million in principal balance of borrowing obligations in the first quarter 2023. Subsequent to the quarter end, Tellurian also advanced Driftwood project funding through the execution of a $1.0 billion sale and leaseback letter of intent.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced that the U.S. Federal Energy Regulatory Commission (FERC) issued the certificate on April 21, 2023 granting authorization for Driftwood Pipeline, LLC’s Line 200 and Line 300, an approximate $1.4 billion natural gas transmission project proposed to be located in Beauregard and Calcasieu Parishes, Louisiana. The pipelines will have the ability to supply up to five and one-half billion cubic feet of natural gas daily with virtually no emissions due to the implementation of electric-powered Integrated Compressor Line (ICL) technology from Baker Hughes.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) ended the fourth quarter of 2022 with the first phase of Driftwood LNG under construction, and $474.2 million of cash and cash equivalents. Tellurian also increased natural gas production fourfold to approximately 225 million cubic feet per day (MMcfd) in the fourth quarter of 2022 as compared to approximately 55 MMcfd in the fourth quarter of 2021. Tellurian also had the following significant accomplishments in 2022:

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) ended the third quarter with a 25% increase in net natural gas production and a 32% increase in natural gas sales, as compared to the second quarter of 2022.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today 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.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that, due to uncertain conditions in the high-yield market, it has withdrawn its proposed public offering of units consisting of 11.25% senior secured notes due 2027 and warrants to purchase shares of Tellurian common stock.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it intends to offer and sell units consisting of 11.25% senior secured notes due 2027 ($1,000 principal amount per note) and warrants to purchase shares of Tellurian common stock in an underwritten public offering. There can be no assurance as to whether or when the offering may be completed, or as to the size or terms of the offering. The Company intends to use the net proceeds from the offering by contributing them to the Driftwood Project entities to support the construction of the Driftwood Project.

Tellurian Inc. (Tellurian) (NYSE American: TELL) today announced that its wholly owned subsidiary, Tellurian Production LLC (TPC), has closed the previously announced acquisition of certain assets in the Haynesville from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC. The cash consideration at closing was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments. The consideration was funded with cash on hand.

Tellurian Inc. (Tellurian) (NYSE American: TELL) ended the second quarter with $823 million of cash on hand. During the quarter, Tellurian generated $61.3 million in revenues from natural gas sales on an increase of production of approximately 47% as compared to the previous quarter. Subsequent to the quarter end, Tellurian entered into an agreement to acquire various natural gas assets located on approximately 5,000 net acres and including 44 producing wells.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that its wholly owned subsidiary Tellurian Production LLC (TPC) has entered into an agreement to purchase natural gas assets from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC (collectively EnSight) located in the Haynesville Shale.

Tellurian Inc. (Tellurian) (NYSE American: TELL) and Baker Hughes (NASDAQ: BKR) have announced that Baker Hughes has been awarded a contract by Driftwood Pipeline LLC, a subsidiary of Tellurian Inc., to provide electric-powered Integrated Compressor Line (ICL) technology and turbomachinery equipment for Lines 200 and 300, a natural gas transmission project, proposed to be located in Beauregard and Calcasieu Parishes, in southwest Louisiana.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has executed definitive agreements to sell $500 million principal amount of senior secured convertible notes, subject to customary closing conditions. The notes will bear interest at 6.0% per annum, expiring May 1, 2025, and will be convertible into shares of Tellurian common stock at an initial conversion price of $5.724, subject to customary adjustments.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that Chief Operating Officer (COO) Keith Teague is retiring from full time employment and will continue with Tellurian in an advisory role. Tellurian has hired former McDermott International, Ltd Executive Vice President and COO Samik Mukherjee who will serve in the role of Executive Vice President and President, Driftwood Assets.

Tellurian Inc. (Tellurian) (NYSE American: TELL) ended the first quarter with nearly $300 million in cash on hand and total assets of more than $700 million. During the quarter, Tellurian generated $26 million in revenues from natural gas sales on an increase of production of approximately 24% as compared to the previous quarter. In addition, Tellurian completed its owners’ site preparation and issued a limited notice to proceed to Bechtel to begin construction of the Driftwood LNG terminal.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has issued a limited notice to proceed to Bechtel Energy Inc. (Bechtel) under its executed Engineering, Procurement and Construction (EPC) contract to begin construction of phase one of the Driftwood LNG terminal, a liquefied natural gas (LNG) export facility near Lake Charles, Louisiana.

Tellurian Inc. (Tellurian) (NYSE American: TELL) ended 2021 with over $300 million in liquidity and over $360 million in standardized measure of discounted future net cash flows of proved natural gas reserves. Tellurian also continued advancing the Driftwood LNG project in 2021 with the following significant accomplishments:

Tellurian Inc. (Tellurian) (NYSE American: TELL) today named energy investment expert Claire R. Harvey as a new independent Board member. Ms. Harvey is the Founder and President of ARM Resource Partners, a joint venture making energy investments, and serves as Chairman of the Board of Falcon Minerals Corporation, a public company which owns and manages mineral interests in the United States. She was previously Founder and Chief Executive Officer of Gryphon Oil and Gas, LLC, and served in key roles at Pine Brook Partners and TPH Partners.

Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today it has begun a partnership with the National Forest Foundation (NFF) on a five-year, $25 million plan for reforestation and other projects across the United States. One of the first projects will be to re-plant 300,000 trees in the Kisatchie National Forest (Kisatchie), located near Alexandria, Louisiana. Kisatchie was heavily damaged by recent weather events and lost nearly 40,000 acres of native trees.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it has closed its previously announced underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. Proceeds from the offering, after deducting underwriting discounts and commissions, the structuring and advisory fee and estimated fees and expenses, were approximately $47.1 million. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it has priced an underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets. The offering is expected to close on or about November 10, 2021, subject to satisfaction of customary closing conditions.

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it intends to offer and sell, subject to market and other conditions, 8.25% senior notes due 2028 in an underwritten public offering. The Company also expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian Inc. (Tellurian) (NYSE American: TELL) completed sales from Driftwood LNG’s capacity for the first two plants with the signing of three million tonnes per annum (mtpa) in sale and purchase agreements (SPAs) with Shell and raised approximately $116 million in a public stock offering in the third quarter of 2021. Subsequent to the quarter end, Tellurian transferred its common stock listing from the Nasdaq Capital Market to the NYSE American.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) today named energy and financial industry veteran James D. Bennett as a new independent Board member. Mr. Bennett is the former President and CEO of SandRidge Energy, Inc. (NYSE: SD) and previously served as a Managing Director first at GSO Capital Partners and then at White Deer Energy. He is a current board member and Executive Chairman of Tapstone Energy Inc.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that it will not proceed with its underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028 which was successfully priced last Thursday night, August 26, 2021. Nasdaq informed Tellurian on Friday that it would not list the bonds due to a procedural interpretation.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it has priced an underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets. The offering is expected to close on or about August 31, 2021, subject to satisfaction of customary closing conditions.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it intends to offer and sell, subject to market and other conditions, senior notes due 2028 in an underwritten public offering. The Company also expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it has closed its previously announced public offering of 35,000,000 shares of common stock at a public offering price of $3.00 per share. Proceeds from the offering, after deducting underwriting discounts and commissions and estimated fees and expenses, were approximately $100.7 million. B. Riley Securities, Inc. acted as the sole bookrunner for the offering. The Company has granted the underwriter of the offering a 30-day option to purchase up to 5,250,000 additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it has priced a public offering of 35,000,000 shares of its common stock for total gross proceeds to Tellurian (before underwriter’s compensation and estimated expenses) of $105 million. The Company has granted the underwriter of the offering a 30-day option to purchase up to 5,250,000 additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets. The offering is expected to close on or about August 6, 2021, subject to satisfaction of customary closing conditions.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it intends to offer for sale shares of its common stock in an underwritten public offering. The Company also expects to grant the underwriter of the offering a 30-day option to purchase additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from the offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business, entering into liquefied natural gas (LNG) sale and purchase agreements (SPAs) with Gunvor Singapore Pte Ltd and Vitol Inc. for a total of six million tonnes per annum (mtpa) in the second quarter. Subsequent to the quarter end, Tellurian also entered into LNG SPAs with Shell NA LNG LLC for an additional three mtpa, completing the sales for plants one and two of Driftwood LNG.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today it has finalized liquefied natural gas (LNG) sale and purchase agreements (SPAs) with Shell NA LNG. The SPAs are on a free on board (FOB) basis at Driftwood LNG for a combination of three million tonnes per annum (mtpa) for a ten-year period, indexed to a combination of two indices: the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), each netted back for transportation charges.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that its wholly owned subsidiary Driftwood LNG LLC has exercised its long-term lease option with the Lake Charles Harbor and Terminal District on the 477 acre site in Sulphur, Louisiana. The ground lease agreement has an initial term of 20 years with extension options of up to 50 years.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that its wholly owned subsidiary Driftwood Pipeline LLC has submitted a formal application with the Federal Energy Regulatory Commission (FERC) to construct and operate Line 200 and 300, an approximately 37-mile, dual 42-inch diameter interstate pipeline that will originate near Ragley in Beauregard Parish, Louisiana and end near Carlyss in Calcasieu Parish, Louisiana. The new pipeline has been designed and routed to connect the supply located 21 miles north of Lake Charles to the demand located within and south of Lake Charles, bypassing what has become a constrained, complex and expensive transportation pathway.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today it has finalized a liquefied natural gas (LNG) sales and purchase agreement (SPA) with Vitol Inc. (Vitol). The SPA is for three million tonnes per annum (mtpa) on a free on board (FOB) basis at Driftwood LNG for a ten-year period, indexed to a combination of two indices: the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), each netted back for transportation charges. At today’s prices, the agreement is valued at approximately $12 billion in revenue over ten years.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) and Gunvor Singapore Pte Ltd (Gunvor) announced today a liquefied natural gas (LNG) sales and purchase agreement (SPA) for three million tonnes per annum (mtpa) for a ten year period, indexed to a combination of two indices; the Japan Korea Marker (JKM) and the Dutch Title Transfer Facility (TTF), netted back for transportation charges. The LNG would be delivered free on board (FOB) from Tellurian’s Driftwood LNG, a 27.6 mtpa liquefaction facility proposed near Lake Charles, Louisiana in the United States Gulf Coast.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that Executive Chairman Charif Souki will participate in a Fireside Chat at the Citi 2021 Global Energy & Utilities Virtual Conference on May 12, 2021 at 12:50 p.m. Eastern time. The live webcast will be accessible via this direct link.

Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business, focusing on debt reduction during the first quarter of 2021. Subsequent to the quarter end, Tellurian made a voluntary $17 million debt repayment on April 23, 2021, and has now paid off all borrowing obligations.