TELL Stock Recent News
TELL LATEST HEADLINES
Tellurian sold its upstream gas business to a company that will also become a partner on its Driftwood LNG project. That deal will strengthen its balance sheet and help commercialize Driftwood.
As we move into June, I've pinpointed three top penny stocks that could be excellent long-term investments. While many investors, myself included, have been watching the cryptocurrency market, especially Bitcoin ( BTC-USD ) as it aims for another new all-time high, there are also some compelling penny stocks that I believe offer great value.
Tellurian (TELL) announces the sale of its upstream assets to Aethon Energy Management for $260 million, allowing the retirement of its senior secured notes and strengthening its balance sheet.
Tellurian has agreed to sell its upstream natural gas production business. The buyer also agreed to support Tellurian's Driftwood LNG project.
LNG developer Tellurian will use most of the proceeds from the sale of its natural gas assets to Aethon Energy to pay off long-term debt, a company spokesperson said on Wednesday.
Tellurian (NASDAQ: TELL) stock price has rebounded sharply from its lowest point this year as investors assess the company's turnaround. It has recovered by over 70% from its lowest point this year, giving it a market cap of over $467 million.
Aethon Energy will acquire Tellurian's upstream assets for $260 million and purchase two million tons per annum (mtpa) of liquefied natural gas (LNG) from its Driftwood LNG plant, the companies said on Wednesday.
HOUSTON & DALLAS--(BUSINESS WIRE)---- $TELL #LNG--Tellurian and Aethon sign HOA for 2 mtpa of Driftwood LNG and agreement for sale of upstream assets.
Tellurian (TELL) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Tellurian could be close to selling its upstream production business. The LNG project developer could also soon secure another commercial contract for Driftwood.