Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business. During the third quarter of 2020, Tellurian raised $32.8 million in net proceeds through issuances of common stock, reduced debt by $33.9 million and extended the Term Loan maturity to March 2022.
Natural gas production for the third quarter was approximately 4.1 billion cubic feet equivalent (Bcfe) and remained flat with an exit rate of 47 million cubic feet equivalent per day (mmcfed). Natural gas sales rose to $7.3 million for the third quarter, which was an increase over $6.3 million in sales for the last quarter.
President and CEO Meg Gentle said, “Natural gas markets and prices have recovered worldwide. Investment in new drilling and infrastructure is acutely needed to balance the market in 2021 and beyond. Building liquefaction terminals as fully integrated partnerships is the only way partners will secure the lowest cost of gas and be protected from the market’s inherent volatility.”
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