Low US natgas prices to dampen prospects for Tellurian asset sale [Reuters]
Tellurian Inc. (TELL)
Last tellurian inc. earnings: 2/24 07:00 am
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Source: Reuters
HOUSTON, March 1 (Reuters) - Low U.S. natural gas prices will hurt Tellurian Inc's (TELL.A) , opens new tab 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 has spent nearly seven years advancing its still incomplete Driftwood LNG export plant. This month it proposed to sell a gas producing business and use proceeds to pay down outstanding 10% high-yield and convertible notes, according to its latest annual report. Last fall, its accountants warned it might not be able to cover debt and operating costs this year. Low natural gas prices drove the unit to a $55.5 million operating loss last year from a $130.6 million operating profit in 2022, results released last week showed. Continued low prices "may result in write-downs of our natural gas or oil properties," Tellurian separately warned in its annual report. Near-term cash flow from the production business is
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TELL
Earnings
- 11/2/23 - Miss
TELL
Sec Filings
- 4/25/24 - Form ARS
- 4/25/24 - Form DEF
- 3/22/24 - Form 3
- TELL's page on the SEC website