Earlier Reported, Tellurian Explores Sale Of Haynesville Upstream Assets
Portfolio Pulse from Benzinga Newsdesk
Tellurian Inc. (TELL) is exploring the sale of its Haynesville upstream assets, including natural gas assets and drilling locations, to reduce debt and support the development of Driftwood LNG. The company produced 19.5 Bcf of natural gas in Q3 2023 and aims to leverage alternative gas supply strategies, deeming the ownership of upstream assets unnecessary at this stage. The sale is expected to reduce general and administrative expenses and provide additional cash, avoiding equity issuance for 2024 development activities.
February 06, 2024 | 6:52 pm
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Tellurian Inc. is exploring the sale of its Haynesville upstream assets to reduce debt and support the development of Driftwood LNG, aiming to avoid equity issuance for 2024 development activities.
The announcement by Tellurian Inc. to explore the sale of its Haynesville upstream assets indicates a strategic shift towards optimizing its asset portfolio and financial structure. This move is aimed at reducing debt and administrative expenses while securing additional cash to support the development of Driftwood LNG. By avoiding equity issuance, Tellurian is likely to preserve shareholder value, which could positively impact investor sentiment and the stock price in the short term.
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