Tellurian issues stock offering, boosts Haynesville production


Tellurian Inc. says it has secured enough offtake agreements to support the first phase of Driftwood LNG south of Lake Charles early next year, reports Natural Gas Intelligence.

The company has also launched a $105 million public offering of common stock, potentially to pay for purchasing upstream assets.

Tellurian plans to supply the LNG gas using Haynesville Shale production. Drilling resumed earlier this year as gas prices rose, and the company says it generated about $5.6 million in revenues during Second Quarter 2021 from gas sales.

Tellurian’s production unit is “enhancing our natural gas drilling program and this integrated approach will create the physical hedge for Driftwood’s natural gas purchases for liquefaction and export,” says CEO Octávio Simões. Read the entire story.