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NEWS RELEASE – for release Thursday, 9 November 2017
Tellurian reports advanced engineering agreement with Bechtel and Q3 financial results
HOUSTON, Texas – (Marketwired November 9, 2017) — Tellurian Inc. (Tellurian) (NASDAQ: TELL)
continued to build its global natural gas business during the third quarter of 2017. Notably Tellurian:
Engaged Bechtel Oil, Gas and Chemicals, Inc. (“Bechtel”) to conduct additional engineering for the Driftwood LNG facility, intended to advance engineering to approximately 20% by 2018.
Agreed to purchase natural gas producing assets and undeveloped acreage in northern Louisiana from Rockcliff Energy Operating LLC (“Rockcliff”), including approximately 4 million cubic feet per day of natural gas production, approximately 1.3 Tcf of gas resource, and approximately 138 drilling locations, which are able to be produced and delivered to market for an estimated $2.25 per mmBtu, providing Tellurian access to low-cost supply.
Arranged a six-month charter contract with Maran Gas Maritime Inc. for a liquefied natural gas (LNG) vessel, allowing for participation in the LNG marketplace.
Tellurian reported a net loss of approximately $22.9 million, or $0.12 per share (basic and diluted), for the three months ended September 30, 2017.
President and CEO Meg Gentle said, “Tellurian will have access to gas supply for a low cost of approximately $2.25 per mmBtu and the capability to deliver LNG to the global market. We are putting in place the pieces of an integrated, global gas business, and welcome customers to become our partners in the ~27.6 mtpa Driftwood Project. We look forward to executing the EPC agreement with Bechtel and confirming our regulatory schedule with the FERC.”
Estimated Driftwood Project timeline
 
 
Catalyst
Estimated Timeline
LSTK EPC contract
Sign – Q4/17
Rockcliff natural gas asset acquisition closing

Q4/17
LNG sales and purchase agreements
1H 2018
FERC construction authorization
Mid-2018
Liquefaction project financial close
Mid-2018
Begin construction
Mid-2018
Begin operations
2022
Q3 2017 Results
Tellurian reported a net loss attributable to common stockholders of approximately $22.9 million for the three months ended September 30, 2017. The net loss includes (i) approximately $8.8 million of development expenses, primarily associated with the development of the Driftwood Project and related regulatory filings, and (ii) approximately $17.3 million of general and administrative expenses.
Total cash disbursements used in operating activities for the quarter were approximately $14.1 million, most of which was tied to Driftwood project development activity.
As of September 30, 2017, Tellurian had approximately $138 million of cash and cash equivalents.
About Tellurian Inc.
Tellurian was founded by Charif Souki and Martin Houston and is led by President and CEO Meg Gentle. Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitability delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes a ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.

 
 
 
1201 Louisiana Street Suite 3100 | Houston, TX 77002 | TEL + 1 832 962 4000 | www.tellurianinc.com 1


The following information was filed by Tellurian Inc. (TELL) on Thursday, November 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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