Tellurian Reports Second Quarter 2019 Results

Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business. Notable Tellurian achievements during the second quarter of 2019 and thereafter:


  • Entered into definitive agreements with subsidiaries of Total S.A. (Total) for a $500 million equity investment in Driftwood Holdings LP, and related purchase of liquefied natural gas (LNG). These agreements are filed with Tellurian’s second quarter 10-Q filing. Along with Total’s previously announced agreement to purchase approximately $200 million of Tellurian common stock, Total’s aggregate investment in the Tellurian portfolio will be approximately $907 million at final investment decision (FID) for Driftwood.
  • Continue to advance negotiations for the sale of LNG and interests in Driftwood Holdings with several counterparties.
  • Secured $75 million term loan for general corporate purposes.


  • Received all major permits required for construction and operation of the Driftwood terminal and pipeline.


  • Completed binding open seasons for the Permian Global Access Pipeline (PGAP), the Haynesville Global Access Pipeline (HGAP), and the Delhi Connector Pipeline (DCPL), all resulting in over-subscribed indications of interest. Tellurian anticipates finalizing precedent agreements and beginning the pre-filing process with the Federal Energy Regulatory Commission (FERC) in the next quarter for PGAP.

President and CEO Meg Gentle said, “Total’s commitment and investment in Tellurian has set an international standard for a joint venture partnership that will deliver low-cost U.S. LNG supply to the world beginning in 2023. Tellurian has executed a thorough set of documents and we are using those as a template to secure further agreements with partners. We are preparing to launch the project finance debt syndication which we expect to take the remainder of the year.”

Click to Read More

Back to the News