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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
February 6, 2024 |
|
Tellurian
Inc.
(Exact name of registrant
as specified in its charter)
Delaware |
|
001-5507 |
|
06-0842255 |
(State
or other jurisdiction of incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer Identification No.) |
1201
Louisiana Street, Suite
3100, Houston,
TX |
|
77002 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s telephone number, including
area code: |
(832)
962-4000 |
|
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
symbol |
|
Name of each exchange on which registered |
Common
stock, par value $0.01 per share |
|
TELL |
|
NYSE
American LLC |
|
|
|
|
|
8.25%
Senior Notes due 2028 |
|
TELZ |
|
NYSE
American LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 7.01 | Regulation FD Disclosure. |
On February 6, 2024,
Tellurian Inc. (the “Company”) issued a press release announcing that it is exploring the sale of the Company’s
upstream natural gas assets in the Haynesville Shale basin. A copy of the press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
The information in this Item 7.01, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall
it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall
be expressly set forth by specific reference in such a filing.
On February 6, 2024,
the Company announced that it is exploring the sale of its upstream natural gas assets in the Haynesville Shale basin.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. |
|
Description |
99.1 |
|
Press Release, dated as of February 6, 2024 |
104 |
|
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SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
TELLURIAN INC. |
|
|
|
Date: February 6, 2024 |
By: |
/s/ Simon G. Oxley |
|
Name: |
Simon G. Oxley |
|
Title: |
Executive Vice President and Chief Financial Officer |
Exhibit 99.1
Tellurian explores sale of Haynesville upstream
assets
HOUSTON, Texas – (BUSINESS WIRE) February 6, 2024
-- Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today it has asked its financial advisor, Lazard, to explore opportunities
for the sale of Tellurian’s upstream business.
Chief Executive Officer Octávio Simões said,
“As we commercialize Driftwood LNG, Tellurian has been reviewing its strategy, including the dynamics of the U.S. natural gas market
in the context of global LNG demand. We have concluded that there are alternative gas supply strategies available to us from various basins
and our ownership of upstream assets is not necessary at this stage of Tellurian’s development. We have a substantial number of
drilling locations that we believe will be highly attractive to oil and gas producers that can develop them more quickly than we would.”
“By unlocking the full value of these high-quality
assets, we aim to substantially reduce our debt, further reduce our general and administrative expenses, and provide additional cash,
enabling us to develop Driftwood LNG. Currently, this approach is more attractive than issuing equity to fund our 2024 development activities
and working capital needs,” Simões added.
Tellurian produced 19.5 billion cubic feet (Bcf) of
natural gas for the quarter ended September 30, 2023. Tellurian’s natural gas assets include 31,149 net acres, interests in 159
producing wells and over 400 drilling locations. Tellurian maintains an exemplary operational safety
record and demonstrates responsible environmental stewardship. Implementing an active emissions monitoring program, electrifying all new
production well sites, and committing to green completions are just a few examples of Tellurian’s efforts to reduce its carbon footprint.
1201 Louisiana Street Suite 3100 | Houston, TX 77002 | TEL + 1 832 962 4000 | www.tellurianinc.com
About Tellurian Inc.
Tellurian intends to create value for shareholders by
building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a
portfolio of LNG marketing and trading, infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian
is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
For more information, please visit www.tellurianinc.com.
Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements
within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,”
“estimate,” “expect,” “forecast,” “initial,” “intend,” “may,”
“plan,” “potential,” “project,” “proposed,” “should,” “will,”
“would,” and similar expressions are intended to identify forward- looking statements. Forward-looking statements herein relate
to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, the potential sale of Tellurian’s
upstream assets, the attractiveness of such assets to other oil and gas producers, and related strategic, balance sheet and liquidity
matters. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations
expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report
on Form 10-K of Tellurian for the fiscal year ended December 31, 2022, filed by Tellurian with the Securities and Exchange Commission
(the SEC) on February 22, 2023, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. There can
be no guarantee that a successful sale of the upstream assets will occur or that the consideration to be received by Tellurian will enable
the Company to meet its stated goals. The forward-looking statements in this press release speak as of the date of this release. Although
Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as
required by securities laws.
Contact
Media:
|
Investors:
|
Joi
Lecznar
EVP Public and Government
Affairs
Phone +1.832.962.4044
joi.lecznar@tellurianinc.com
|
Matt
Phillips
Vice President, Investor
Relations
Phone +1.832.320.9331
matthew.phillips@tellurianinc.com |
1201 Louisiana Street Suite 3100 | Houston, TX 77002 | TEL + 1 832 962 4000 | www.tellurianinc.com
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Tellurian (AMEX:TELL)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Tellurian (AMEX:TELL)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024