Tellurian wraps up $50 million senior notes offering

US LNG export project developer Tellurian has closed its previously announced offering of senior notes.

Tellurian said in a statement on Wednesday it finalized the underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028.

Proceeds from the offering, after fees and expenses, reached about $47.1 million, Tellurian said.

Also, the company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering.

Tellurian intends to use the net proceeds from the offering for general corporate purposes,
including the potential acquisition of upstream assets.

The developer of the 27.6 mtpa Driftwood project reported last week a lower net loss in the third quarter, while it also started production from two new natural gas wells.

During the quarter, the firm signed a long-term LNG sales deal with Shell and raised about $116 million in a public stock offering.

The Houston-based firm has this year signed three 10-year LNG supply deals for its Driftwood project in Louisiana for a total of 9 million tonnes per year. These include contracts with Gunvor and Vitol.

Tellurian said it has sold all the necessary offtake for the first phase of the Driftwood LNG plant which would include two units with a capacity of about 11 mtpa. Total development costs for this phase would reach about $11.9 billion.

- Advertisements -

Most Popular

NFE says ‘minor mechanical issue’ will not affect Altamira LNG launch

US LNG player New Fortress Energy said that "a minor technical issue" which took place last week on one...

Venture Global: Plaquemines LNG to start production in mid-2024

US LNG exporter Venture Global LNG expects to start LNG production at its Plaquemines LNG export plant in Louisiana...

QatarEnergy seals $6 billion deal with Chinese shipbuilder for 18 giant LNG carriers

State-owned LNG giant QatarEnergy has signed a major shipbuilding deal worth $6 billion with China State Shipbuilding Corp for...

More News Like This

Tellurian explores sale options, makes leadership changes

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, has made new changes to...

Tellurian expects to take FID on two Driftwood LNG plants in 2024

US LNG firm Tellurian said on Monday it expects to take a final investment decision in 2024 to build...

Tellurian reports $166.2 million net loss in 2023

US LNG firm Tellurian reported a net loss of $166.2 million in 2023, as it continues to work on...

Tellurian amends debt terms to support sale of its upstream assets

US LNG firm Tellurian, the developer of the Driftwood LNG project in Louisiana, said it had signed a deal...