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A top-level executive at the LNG specialist resigned. Tellurian also said it was exploring various potential options for its future, including a full sale.
Tellurian shares swung to the upside on word the company could sell its upstream assets in order to finance operations. The company has sputtered for years, and even a dramatic February surge leaves most long-term holders underwater.
Low U.S. natural gas prices will hurt Tellurian Inc's ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its liquefied natural gas export (LNG) project, analysts said.
Tellurian Inc. (TELL) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to earnings of $0.06 per share a year ago.
The liquefied natural gas specialist agreed to modifications of a pair of debt obligations. It put a positive spin on this, but the announcement only served to illustrate its financial challenges.
Tellurian (TELL) receives an extension from the FERC to complete the LNG Project by Apr 18, 2029.
Cash-strapped Tellurian Inc on Thursday won a three-year permit extension to complete construction of its Driftwood LNG export plant, a boost for the long-delayed liquefied natural gas project.
Tellurian Inc. is selling its Haynesville natural gas assets and evaluating alternative sources of cheap natural gas, which has changed market perceptions. The Biden administration's pause on LNG projects appears to be a blessing in disguise for Tellurian, as it is fully licensed and four competing projects have been sidelined. The company's market capitalization is currently discounting future growth at a high rate, but once the Driftwood LNG project is fully financed, the stock is expected to rise significantly.
Tellurian is looking to find ways to fund its massive Driftwood project. It has hired a financial advisor to assist it with the process.
Tellurian is exploring the sale of its upstream drilling locations to reduce debt and raise cash. The company is working to extend its runway to commercialize its long-delayed Driftwood LNG project.