Current TELL Stock Info

Tellurian Inc. (ticker: TELL) wrapped up its first year as a public company, ending 2017 with $128.3 million of cash and cash equivalents. The company remains debt free, but reported a net loss of $231.5 million, or $(1.23) per share as it ramps up permitting and preconstruction phases for its Driftwood LNG plant on the Louisiana Gulf coast. Driftwood is targeting a 2019 groundbreaking.

The company bought natural gas resources in 2017 and has approximately 327 Bcfe of proved natural gas reserves. Tellurian President and CEO Meg Gentle said, “Tellurian is developing asset opportunities representing $29 billion of near-term investments…”

Bechtel invests $50 million in Tellurian

Bechtel Oil, Gas and Chemicals, Inc. recently made a $50 million, zero-coupon preferred equity investment in Tellurian, which has an implied Tellurian common share price of $8.16 per share.

Brendan Bechtel, chairman and CEO of Bechtel Group, Inc. said, “Tellurian management and Bechtel have worked together for many years and we look forward to continuing our success as equity partners.”

Gentle said, “Bechtel and Tellurian management have constructed 55 Mtpa of liquefaction capacity together on various projects and have formed a respected and productive relationship. We are fortunate to have such strong strategic partners including Bechtel, GE and Total and look forward to breaking ground at Driftwood LNG in 2019.”

Permian pipeline open season

Tellurian’s subsidiary, Permian Global Access Pipeline LLC (PGAP) is looking to secure shippers for its proposed 625-mile long, 42-inch in diameter interstate natural gas pipeline. The pipeline will connect the Permian to southwest Louisiana.

PGAP is estimated to cost approximately $3.7 billion to construct and will have the capacity to transport 2 Bcf/d. Construction is projected to begin as early as 2021 and the proposed pipeline is aiming to be in service as early as 2022.

The open season began at noon central time on Wednesday, March 21, 2018 and runs through Friday, May 25, 2018.

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