Challenging Conventional Thinking with Proven Results in the LNG Industry

A two minute discussion with Charif Souki to take stock on where natural gas is now and where it is going for the future.

Take five minutes with Meg Gentle, CEO of Tellurian Inc. where she gives you her take on our business model, Driftwood LNG project progress and market foresight on liquefied natural gas (LNG).

A new corporate presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.

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A new corporate presentation is available for Tellurian Inc. (NASDAQ: TELL). The presentation will include forward-looking information.

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HOUSTON–(BUSINESS WIRE)– Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business. Notable Tellurian achievements during the second quarter of 2020 and thereafter included raising $57.5 million in net proceeds through issuances of common stock. Pro forma cash and cash equivalents as of quarter end would be approximately $122.9 million after giving effect to financing transactions executed during July.

President and CEO Meg Gentle said, “Tellurian has used the last few months to streamline Driftwood LNG, which is one of the lowest cost projects available globally at approximately $1,000 per tonne. Driftwood LNG is an integrated project, including production of low-cost gas from the Haynesville shale, which supports a new U.S. LNG pricing mechanism projected to enable equity partners to load LNG at about $3.50 per mmBtu. Tellurian continues working to secure equity partners from around the globe and looks forward to delivering reliable energy in 2024.”

Financial results

Tellurian ended its second quarter of 2020 with approximately $88.3 million in cash and cash equivalents and approximately $33.9 million short-term borrowings. Tellurian’s balance sheet consisted of approximately $315.9 million in total assets. Pro forma for the financing transactions completed in July, Tellurian would have ended the quarter with approximately $122.9 million in cash and cash equivalents, approximately $106.1 million in long-term debt, and approximately $350.5 million in assets.

Tellurian reported a net loss of approximately $128.8 million, or $0.53 per share (basic and diluted), for the three months ended June 30, 2020. Results include a one-time non-cash charge of approximately $81.1 million for impairment of the book value of our natural gas properties due to the impact of declining commodity prices.

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Center for Energy Studies | Rice University’s Baker Institute for Public Policy

COVID-19 has triggered massive uncertainties across the energy value chains, including the LNG trade. Join Meg Gentle, president and CEO of Tellurian, and Ken Medlock, CES senior director, for a virtual armchair session on the future prospects for LNG.

Tellurian Inc. (Tellurian or the Company) (Nasdaq: TELL) today announced that it has entered into a securities purchase agreement with certain institutional investors for the sale of 35,000,000 shares of common stock at a price of $1.00 per share for total gross proceeds of $35,000,000.  The offering will generate net cash proceeds of approximately $32.5 million after deducting estimated expenses in connection with the offering.

The registered direct offering is expected to close on or about July 24, 2020, subject to the satisfaction of customary closing conditions.  Roth Capital Partners is acting as the placement agent for the offering.

A shelf registration statement on Form S-3 (File No. 333-235793) relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the “SEC”) and is effective.  A prospectus supplement and the accompanying prospectus relating to the registered direct offering will be filed with the SEC.  The Company will also file a Form 8-K in connection with the securities purchase agreement.  Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained, when available, at the SEC’s website at http://www.sec.gov.

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Today, July 17, 2020, U.S. Secretary of Energy Dan Brouillette and Indian Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan co-chaired a virtual ministerial meeting of the U.S.-India Strategic Energy Partnership (SEP), now at the two-year mark, to review progress and prioritize new areas for cooperation.

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India’s top gas importer, Petronet LNG (PLNG.NS), has renewed its initial deal to consider investing $2.5 billion in U.S. liquefied natural gas (LNG) developer Tellurian Inc’s (TELL.O) Driftwood project, Indian sources familiar with the matter said.

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