Tellurian Inc (TELL) Advances Driftwood LNG Project Amid Financial Flexibility Moves, Aims for Strategic Growth in 2024

Tellurian Inc. (TELL), closed its last session at $0.8650, matching its opening price for the day. Amidst active trading, today, bids soared to $0.9874 for 900 shares, with asks reaching $0.9842 for 1,300 shares. The stock’s day ranged from $0.8500 to $1.0100, reflecting its ongoing volatility. Over the past 52 weeks, TELL’s value ranged from $0.3600 to $1.7600. Trading volume hit 50,230,376, above the average of 37,419,821, showing heightened interest. Currently, the market cap stands at $790.217 million, with a Beta of 2.37, highlighting its substantial market presence and volatility. Despite a challenging financial picture, evidenced by a negative EPS of -0.2900 and the absence of a PE Ratio, the company’s recent announcements offer a glimpse into its strategic directions and potential for recovery.

On February 23, 2024, from its Houston headquarters, Tellurian announced its full year 2023 financial results. The company made significant strides in its Driftwood LNG project, having installed over 14,000 piles and progressed on concrete foundations for essential equipment, thereby minimizing construction risks. Furthermore, it secured the Federal Energy Regulatory Commission (FERC) Certificate for its pipelines (Lines 200 and 300) and continued with the fabrication of Baker Hughes zero-emissions ICL compressors for the pipeline. Following the close of the year, Tellurian revised its senior secured and convertible notes agreements to enhance financial flexibility. The provision of additional collateral for the Driftwood Project, aimed at repaying the senior secured notes, is not expected to impact the project’s commercialization or financing adversely. The company anticipates that the improved liquidity will bolster engagement with potential partners and financiers.

CEO Octávio Simões highlighted Tellurian’s impeccable safety record for 2023 and the Driftwood project’s recent achievements, including the FERC’s order extension to build all five plants, with a capacity of approximately 27.6 million tonnes per annum. This development, alongside its non-free trade agreement export authorization, has elevated the project’s status, invigorating commercial discussions. Positive feedback on the potential sale of upstream assets and a commitment to financial discipline underscore Tellurian’s strategy for sustainable progress. These developments reflect Tellurian’s focused execution of its strategic plans, aiming to mitigate substantial doubt about its future.