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Tellurian reports 2017 results

HOUSTON, Texas - (BUSINESS WIRE) March 15, 2018 -- Tellurian Inc. (Tellurian) (NASDAQ: TELL) began building its global natural gas business in its first year as a public company. Notable Tellurian achievements:

Attained regulatory milestones for the Driftwood terminal and Driftwood pipeline
Received authority from the United States Department of Energy to export liquefied natural gas (LNG) to free-trade agreement nations
Completed the pre-filing phase and collectively submitted a formal application with the Federal Energy Regulatory Commission (FERC) to construct and operate the Driftwood terminal and Driftwood pipeline
Received a notice of schedule for environmental review from FERC stating that it will issue its final Environmental Impact Statement (EIS) on October 12, 2018, and a Federal Authorization Decision Deadline on January 10, 2019, allowing Tellurian to make a final investment decision and begin construction of the Driftwood terminal in the first half of 2019

Completed front-end engineering and EPC agreements for the Driftwood terminal
Entered into four lump sum turnkey engineering, procurement and construction (EPC) contracts for an aggregate $15.2 billion with Bechtel for completion of the ~27.6 million tonnes per annum (mtpa) Driftwood terminal; contracts guarantee performance, timing and cost at $550 per tonne, one of the lowest cost liquefaction projects worldwide

Achieved financial goals
Closed the reverse merger with Magellan Petroleum Corporation and began trading on the NASDAQ under the ticker symbol “TELL”; TELL was added to the Russell 2000 Index
Issued common stock to Total for $207 million
Raised over $100 million in a public offering, including underwriter overallotments

Launched new business strategies
Initiated an offering of equity in Driftwood Holdings LLC, an integrated LNG business which includes natural gas reserves, pipelines, and export facilities for $1,500 per tonne of LNG contracted per year
Acquired almost 12,000 net acres of natural gas producing assets in the core of the Haynesville shale; targeting delivery of gas for $2.25/mmBtu to markets in Southwest Louisiana
Announced the Tellurian Pipeline Network to expand natural gas supply alternatives for the growing demand in Southwest Louisiana
Established initial LNG marketing activities and initiated a six-month time charter for the LNG tanker, the Maran Gas Mystras

President and CEO Meg Gentle said, “In 2017, Tellurian was able to guarantee its project costs, gain a regulatory scheduling notice, and obtain access to capital markets. By integrating our business, we are recognizing the strength of the commoditized LNG market, and we are offering customers the opportunity to share in the benefits of the low-cost structure as our partners. The experienced team at Tellurian is developing asset opportunities representing $29 billion of near-term investments that will deliver natural gas to the growing LNG hub in Southwest Louisiana and enable exports to global markets.”


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


The following information was filed by Tellurian Inc. (TELL) on Thursday, March 15, 2018 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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