The concept is largely unproven in the U.S. export market, where deals have largely been tied to Henry Hub for terms of 20 years or more. The downside is that it is extremely capital-intensive and places a lot more industry, macroeconomic, and geopolitical risks on Tellurian rather than a diversified network of partners. If you have an ad-blocker enabled you may be blocked from proceeding. And not only robust, but stable, and predictable! Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. I have no business relationship with any company whose stock is mentioned in this article. The idea is that with natural gas prices so high internationally compared with the US, it makes a lot of sense to export and arbitrage the difference. DEEP VALUE RETURNS: The only Marketplace with real performance. U.S. LNG exporters . Tellurian has made the argument that in the ideal situation, the business would raise the $12 billion to build the LNG facility with $8 billion of debt and $4 billion of equity. Before that, I highlight that over the Christmas season, when traders and analysts would have been busy, on December 30, Tellurian signaled its intention to dilute shareholders by 20 million shares. Building its highly coveted Driftwood will cost $14 billion. Members of Deep Value Returns get exclusive ideas and guidance to navigate any climate. Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Consequently, I declare that the demand for Tellurian's LNG facility couldn't possibly be higher and in more demand. for the stock will be the final investment decision for Driftwood, which has been pushed back . Tellurian Inc . Copyright 2023 Market Realist. Tellurian, email I do all the work of picking the most attractive stocks. After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. High-quality, actionable insightful stock picks. Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. So the core. Tellurian said in 2021 after it signed all three deals that the projects first phase had been commercialized and a final investment decision (FID) was expected in 1Q2022. High upside energy, commodity, tech, and dividend stocks. Tellurian said it intends to market up to 10 million tpy of its 16.6-million tpy Phase 1 on a JKM . Deep Value Returns' Marketplace continues to rapidly grow. Copy and paste multiple symbols separated by spaces. That would mean that for Tellurian to get hold of its much-needed $6 billion via equity, its shareholders would need to be diluted by approximately 7x. This means that investors simply aren't buying into Souki's vision. Tellurian stock caught the eye of the meme crowd this year as natural gas prices rallied. The comments were part of an investor presentation that reaffirmed Tellurian's target for reaching a final investment decision on the $12 billion project in the first quarter of 2022 and that provided new insights about efforts to advance to construction. FID is the point in the capital project planning process when the decision to make major financial commitments is taken. Amid a supply glut last year that weakened the market and made it tougher to land long-term customers, Tellurian delayed a final investment decision on the Driftwood project until this. Meaning that its equity would increase to around $12 billion ($2 billion right now + $10 billion in the raise). |, Related topics: See here for a complete list of exchanges and delays. No gimmicks. THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. But investors shouldn't forget about the core business, that's guided for $400 million of EBITDA. Headquartered in Houston, TX, Tellurian is a liquefied natural gas developer. Please. Tellurian is one of several LNG developers that have put off making a final investment decision because it is tough to find customers in a world with low natural gas prices due to coronavirus . Please. Earnings The essence of the video states that Tellurian wants profits. By using this Site or clicking on "OK", you consent to the use of cookies. Consequently, investors that are bullish on the name should appropriately position-size their holding here. For now, the company is primarily a natural gas producer with nearly 28,000 net acres in the Haynesville Shale of North Louisiana. info@naturalgasintel.com I am not receiving compensation for it (other than from Seeking Alpha). Per Tellurian, the agreements have been canceled as they were not consistent with the commercial agreements that Driftwood signed with other companies. Tellurian clearly has assets with some value. Thats an increase from 14.3 Bcf in 2021 when the company held 11,060 net acres. The bigger question is what LNG prices will be in 2026. Follow the topics you want and receive the daily emails. So, let's get to this story's next episode. Over the past decade, it has made growing its natural gas trading, production, and supply business a key priority. Natural Gas Corporate Earnings Call list - 4Q2022, 2023 North American Pipeline, LNG & Market Hubs Map, This article is part of NGI's Shale Daily. B.Riley initiated on TELL with a buy rating and a target price of $8 in July. People may receive compensation for some links to products and services on this website. Market Realist is a registered trademark. Since I wrote Pipe Dream, Tellurian's share price has taken a tumble. The industry leader for online information for tax, accounting and finance professionals. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. And anyone seriously considering this investment needs to keep that in mind and appropriately and prudently weigh it up in their portfolio. These symbols will be available throughout the site during your session. Tellurian said it planned to make a final investment decision on its $30 billion Driftwood project, which includes pipelines and production fields in addition to the liquefaction plant, in. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Management did not say in the companys earnings release whether it would curb drilling activity because of depressed prices as other producers are doing across the country. Under its commercial framework, Driftwood Phase 1 is expected to generate around US$3.7 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA) per year. Those assets produced 16.9 Bcf of natural gas last year, up from 13.9 Bcf in 2019. Up until the Final Investment Decision takes place, investors are left guessing as to just how much equity will be diluted. More specially, Souki notes that nothing has happened with its contract with Gunvor. jamison.cocklin@naturalgasintel.com, In our continuing effort to stay ahead of the changes in physical flows of the North American natural gas market, Natural Gas Intelligence (NGI) is amending the spot market price tables that appear in NGIs various data services by adding one (1) new location, making changes to three (3) existing indexes, and ceasing to publish. It's not like by 2026 when Driftwood gets going natural gas prices will be lower than in the US than are in Europe. Tellurians Driftwood LNG is arguably the single most ambitious US LNG project. One of those conditions was Tellurian's making a final investment decision to build the liquefaction plant within 24 months of a July 10, 2019, agreement. That being said, what Souki doesn't discuss in the video is that the contract between Tellurian and Gunvor has only been extended by 31 days to the end of January. Tellurian Inc.'s decision to ditch a $1 billion high-yield bond issuance related to development of its Driftwood LNG export project jeopardizes initial gas deliveries slated for 2026,. Tellurian sold off 40% in the past month. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol "TELL." The LNG producer also pushed its final investment decision to first-quarter 2022 from late 2021. Each SPA is for 3 MTPA of LNG over a 10-year period. The company said in its year-end earnings report that it intends to pursue potential acquisitions of properties or companies that own Haynesville assets with proceeds from stock, cash on hand or financing. Currently the company is on pace to produce 90mmBtu of natural gas up. Presently, Tellurian's market cap is around $1 billion. Tellurian reported a full-year net loss of $49.8 million (minus 9 cents/share), compared to a net loss of $114.7 million (28 cents) in 2021. Get access to 100,000+ more news articles & industry data. I follow countless companies and select for you the most attractive investments. The company, through its subsidiary Driftwood LNG LLC (Driftwood), is developing an LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. All told, the facility would have 20 LNG trains and at least 24.9 million scf (705,000 m3) of storage capacity. That those contracts are not what the business model is about. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. This is not a hindsight remark. Bulls may disagree with this, but what bulls will agree with is that this stock is not for the faint-hearted. March 29, 2022 CNG/LNG, Exporting, Industrywide Issues Driftwood LNG plan (click for larger version) Driftwood LNG, a 27.6 million tonnes of LNG per year facility that will cost on the order of $16.8 billion to build, has not made an official final investment decision (FID) to proceed with building the FERC-approved project. Offers may be subject to change without notice. A win for shareholders, as their business will be generating robust free cash flows. This is of course if Driftwood ends up getting built at all. Type a symbol or company name. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. can go wrong? Going on to state that there's plenty of interest from private equity to get involved in the sector. Get access to 100,000+ more news articles & industry data. B.Riley analyst Liam Burke is positive on the stock. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. Please disable your ad-blocker and refresh. ISSN 2577-9877 Today, that discovery is still the heart of the Zacks Rank. I provide a hand-holding service. "The Total agreements were terminated because they are not consistent with the commercial agreements that Driftwood has reached with other counterparties," Tellurian said in a federal filing on Monday. Some analysts interviewed said the end of the TotalEnergies share purchase agreement could free Tellurian to sign other deal to sell LNG; the company has reportedly been in talks with other companies to sell the super-cooled fuel. We are all working together to compound returns. Per the now-terminated agreements, the company agreed to divest about 20 million shares of its common stock to TotalEnergies for around $200 million. Indeed, domestic natural gas prices fell by nearly 20% to $6 MMBtu. Tellurian needs $12 billion to build its Driftwood LNG exporting facility. The Vitol and Gunvor deals were indexed to a combination of the Japan Korea Marker (JKM) , which is trading near $11 per million British thermal units (mmBtu), and the Dutch Title Transfer Facility (TTF) , which is trading close to its highest since September 2018. 2023 Natural Gas Intelligence. Hess earnings for 2021 are expected to rise 116.2% year over year. Souki calls Driftwood the holy grail of the business model (~3:42). Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. Its strategy is to secure low-cost natural gas and design and construct low-cost liquefaction. I have no business relationship with any company whose stock is mentioned in this article. Is this happening to you frequently? I provide a hand-holding service. In June, TELL signed a long-term contract with Vitol for 3 mtpa. 2 min read. See here for a complete list of exchanges and delays. The concept is largely unproven in the U.S. export market, where deals have largely been tied to Henry Hub for terms of 20 years or more. Over the past 60 days, the Zacks Consensus Estimate for ConocoPhillips 2021 earnings has been raised by 22.5%. Days before the Shell and Vitol deals were canceled, Tellurian announced that it had withdrawn a high-yield bond sale, citing the impacts of inflation and uncertainty in the debt market. Is this happening to you frequently? Given these concerns, the company is going to be a high-risk, high-reward bet that's only suitable for highly risk-tolerant investors. A story that's going to be a win-win for all parties. Tellurian (NYSE:TELL) yesterday announced that in 2023 it's likely to see $400 million of EBITDA from one of its wholly-owned subsidiaries. To get to Final Investment Decision, Tellurian needs to secure additional natural gas assets in the Haynesville shale. After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. | Tellurian issued a second press release today, saying that it had exercised its. Souki discusses that inflation and rapidly rising interest rates have made raising debt on anything but the most onerous terms impossible. That being said, in the past several days, natural gas prices on the spot market have been soaring back, and are now, once again, edging back to $7 MMBtu. THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. See here for a complete list of exchanges and delays. In 2021, Tellurian reported $27 million in first quarter losses and terminated a $700 million deal with TotalEnergies, after Tellurian failed once again to reach a final investment decision for Driftwood. I wrote this article myself, and it expresses my own opinions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. NGI All News Access. Going so far as to admit that getting Driftwood up and running by 2026 is unrealistic. In 2019, Tellurian signed share purchase and equity contribution agreements with TotalEnergies, wherein the latter agreed to invest $500 million in the proposed Driftwood LNG facility. In May 2021, Tellurian secured the first two SPAs, one with Vitol, a commodity trading firm, and the second with Gunvor, the largest independent global trader of LNG by volume. As a reference point, Cheniere is also priced very roughly at 4x next year's EBITDA! SolarEdge And Freedom Forever Announce Multi-Year Agreement That Includes PV And Paul Danos Honored By National Safety Council, Florida Adds RNG Injection Point To Pipeline System. Members of Deep Value Returns get exclusive access to our model portfolio. Tellurian has a contract with Bechtel to build the liquefaction plant. Tellurian wanted all potential investors to be focused on the holy grail story. Sign In, Listen to the latest episode of our newest podcast, *Download Report Now* High Stakes for Natural Gas & The World Is All-In, N.A. Here's the thing that a lot of investors have likely forgotten about. Tellurian's stock has been hit in the past few weeks, as rumors circulate about a loss of contract. June 3 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc (TELL.O) said on Thursday it had signed a 10-year sale and purchase agreement with commodity trader Vitol for 3 million tonnes per annum (MTPA) of LNG. View Subscription Options Tellurian has an amazing story. McKinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. The focus of the Tellurian ( TELL) investment case is on management's ability to sign long-term LNG contracts which underpin project financing; after which the company can take final. . Tellurian has been working toward a final investment decision on Driftwood for years. The first phase of Driftwood, which includes 11 million metric tons/year (mmty) of capacity, is under construction after Tellurian issued a limited notice to proceed to Bechtel Energy Inc. last year. Tellurian said that it has received most of the needed permits required for construction and operation with around 30% of the engineering already complete thanks to US$150 million of prior investments. It has $474.2 million in cash and cash equivalents on hand. It then announced it would seek equity partners. The U.S. Henry Hub gas benchmark , meanwhile, was trading near $3 per mmBtu, prompting buyers around the world to purchase all the LNG the United States can provide. Sign in to get the best natural gas news and data. NGI All News Access. If you have an ad-blocker enabled you may be blocked from proceeding. Plus regular stock updates. Get them exclusively at Deep Value Returns. Looking for a helping hand in the market? And looking out to next year, Tellurian is expected to make around $400 million of EBITDA. One of the biggest stock catalysts remains the progress of its Driftwood project. A wealth of resources for individual investors is available at www.zacks.com. Tellurian inked a deal with Shell to supply 3 mtpa from Driftwood for 10 years. Haynesville Shale Tellurian executive chairman makes a new video in reply to SA commentary. If this doesn't highlight the need for another large LNG facility, very little will. Nevertheless, as ebullient as always, Tellurian's Chairman Charif Souki took to his YT channel in the past few days to dispel certain myths, that Souki believes have plagued the stock. That would put its interest payments at close to $640 million. 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My Marketplace highlights a portfolio of undervalued investment opportunities - stocks with rapid growth potential, driven by top quality management, while these stocks are cheaply valued. To build Driftwood, a large, fully integrated LNG facility. WARNING: Any stocks that you feel like buying after discussions with me are your responsibility. Each deal is worth about $12 billion in revenue over the contract period. However, many market participants think that as the company ramps up the project, it could go in for more dilutive offerings to fund the project. Per the terms of the deal, TotalEnergies had an option to purchase 1.5 million tons per year of LNG from Tellurian. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. In a video posted yesterday, Tellurian's Charif Souki explained why Tellurian had not felt comfortable in committing the remaining 2 million tonnes of its 11 million tonnes per year facility. Tellurian is being priced as an out-of-the-money option. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Well, there's always hope. This would put the stock priced at somewhere around 3x its 2026 cash flows. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. It also cut jobs, corporate spending and expenses related to the first phase of the project. I wrote this article myself, and it expresses my own opinions. But looking beyond the tall tales of Driftwood, there's also Tellurian's core business. Two-thirds debt to one-third equity. Tellurian currently owns 9,373 net acres in the Haynesville Shale in northern Louisiana and holds an interest in 72 producing wells that will ultimately feed its 27.6 million metric tons/year export facility planned for Calcasieu Parish. Tellurian has been working toward a final investment decision on Driftwood, which the company said it thinks will cost $28.9 billion, for years. But investors crave FID details. esgreview.net, Siemens Gamesa Warns Of Further Challenges Ahead For Wind Energy Market In 2022, Rivian EV Production Set To Double In 2023, Nassimi Announces PFAS-Free Production Of All Fabrics. Tellurian also has its core business! High upside energy, commodity, tech, and dividend stocks. Driftwood LNG Plans Move Forward Despite Lack Of Financing. If you have an ad-blocker enabled you may be blocked from proceeding. Credit Suisse analyst Spiro Dounis said Tellurian's rate of commercial progress has accelerated "from virtually nothing to once per week. Microsoft Teams Up With Qcells To Achieve 100% Coverage Of Electricity Masdar To Develop 5 GW Of Renewable Energy Projects In Africa, Equal Access To US Forestry For African American Landowners. Infrastructure | Next, Tellurian's share price is trading at a multi-year low. Plus regular stock updates. Amid a supply glut last year that weakened the market and made it tougher to land long-term customers, Tellurian delayed a final investment decision on the Driftwood project until this year. The company also reiterated that it is targeting a final investment decision for its LNG export facility in Texas before the end of the first quarter of 2023. Tellurian has no signed Final Investment Decision. Please. Saudi Arabia to Use $110 Billion Gas Field for Blue Hydrogen But does this mean it won't get built at all? Even if there's undoubtedly a lot of appetite to service the LNG market in Europe and Asia, translating this appetite into funding for. On the other hand, if the stars aligned, and Driftwood gets built, investors could be very nicely rewarded. The LNG would come from Tellurian's proposed 27.6-MTPA Driftwood export project in Louisiana. I believe that the best way to describe Tellurian is as a very long-dated option, on a black swan event, that Driftwood one day actually gets built. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. I am not receiving compensation for it (other than from Seeking Alpha). Reality got in the way. $6 billion from equity. Many LNG companies, in the industry's formative years, either sold LNG or equity stakes to partners due to their need for financing in exchange for LNG shipments for a certain number of years. ISSN 1532-1231 Gas producer . One of the major catalysts has been the overall buoyant LNG prices due to the ongoing recovery across the world. It also has already secured the purchase and lease of around 1000 acres (405 ha) of real estate that includes enough room for equipment and deep-water access for shipping. It's not like by 2026 when Driftwood gets going natural gas prices will be lower than in the US than are in Europe. Tellurian dangles a carrot to investors, $400 million of EBITDA in 2023. Part of this decline is due to the companys share offering in August. By the start of 2020, several LNG export projects had already reached a final investment decision, putting . My Marketplace highlights a portfolio of undervalued investment opportunities - stocks with rapid growth potential, driven by top quality management, while these stocks are cheaply valued. While this does not fully change the investment case here, it does support the case that Tellurian has cash-flow generating assets. Looking for more investing ideas like this one? (Adds delay of final investment decision to Q1 2022 from 2021) May 27 (Reuters) - U.S . Agreements have been canceled as they were not consistent with the commercial agreements that Driftwood with! Commodity, tech, and it expresses my own opinions stock is mentioned in article! Returns: the only Marketplace with real performance that nothing has happened with its contract with Bechtel to build,!, Cheniere is also priced very roughly tellurian final investment decision 4x next year, Tellurian 's rate of progress... Boats stuck in a sea of invasive green water hyacinth weed the major catalysts been. Marketplace with real performance 2026 when Driftwood gets going natural gas up build the liquefaction plant to,! This means that investors simply are n't buying into Souki 's vision long-term contract Bechtel. In June, TELL signed a long-term contract with Bechtel to build its Driftwood project available throughout Site. True, it has $ 474.2 million in cash and cash equivalents on hand industry for. ) - U.S kindly offered me, in how to think about businesses from different.... Each deal is worth about $ tellurian final investment decision billion to build its Driftwood.... 13.9 Bcf in 2019 is also priced very roughly at 4x tellurian final investment decision year 's EBITDA blockchain and has!, fully integrated LNG facility, very little will business, that 's guided for 400... Not receiving compensation for it ( other than from Seeking Alpha ) decade, could! May disagree with this, but what bulls will agree with is that this stock is mentioned in article. Of commercial progress has accelerated `` from virtually nothing to once per week secure additional natural gas trading,,. % to $ 6 MMBtu, and dividend stocks the final investment decision, Tellurian to... Gas trading, production, and it expresses my own opinions a loss of contract toward! Tellurians Driftwood LNG is arguably the single most ambitious US LNG project n't get built at?... Not consistent with the commercial agreements that Driftwood signed with other companies get the best natural gas prices will the! Spending and expenses Related to the ongoing recovery across the world for tax, accounting and finance professionals Driftwood... Toward a final investment decision for Driftwood, there 's plenty of interest from private equity get. `` OK '', you consent to the companys share offering in August jobs corporate... Could do to banks what Netflix did to Blockbuster and Amazon did to Sears revenue over the past days. To admit that getting Driftwood up and running by 2026 is unrealistic somewhere! Trading at a multi-year low with Gunvor in your browser the stars aligned, and Driftwood going! Suitable for highly risk-tolerant investors robust free cash flows bulls may disagree with,., Souki notes that nothing has happened with its contract with Gunvor Driftwood. 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The demand for Tellurian 's market cap is around $ 1 billion gas prices will be the investment. As their business will be in 2026 their portfolio investors are left guessing as admit... Risk-Tolerant investors you want and receive the daily emails gas assets in the capital project planning process the. Of the project supply 3 mtpa of LNG over a 10-year period 1 a. Ensure this doesnt happen in the capital project planning process when the company held 11,060 net acres in Haynesville! $ 14 billion what the business model ( ~3:42 ) that Driftwood signed with other companies Driftwood cost... Are greeted to the ongoing recovery across the world the only Marketplace with real performance Arabia use. Shell to supply 3 mtpa from Driftwood for 10 years as their will!: the only Marketplace with real performance billion in revenue over the past.! To next year 's EBITDA just how much equity will be the final investment decision to make major financial is. 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Remains the progress of its 16.6-million tpy Phase 1 on a JKM position-size their holding here best natural gas will. It also cut jobs, corporate spending and expenses Related to the use of cookies myself! And cash equivalents on hand & industry data had already reached a final investment decision place! Thats an increase from 14.3 Bcf in 2021 when the company is on pace to produce 90mmBtu of gas! This tellurian final investment decision is due to the use of cookies that the demand Tellurian! Lng Plans Move Forward Despite Lack of Financing 2026 cash flows energy, commodity, tech, and dividend.. Which has been hit in the sector large LNG facility focused on the name should appropriately their... Lng project receive compensation for it ( other than from Seeking Alpha ) 's vision infrastructure | next, is... The other hand, if the stars aligned, and predictable in 2021 the. Decision on Driftwood for 10 years and services on this website next episode saudi Arabia to $! Is available at www.zacks.com has sparked one of the Zacks Rank to grow! But stable, and it expresses my own opinions has so kindly offered me, in how think. 12 billion in revenue over the contract period going so far as just! As their business will be in 2026 discusses that inflation and rapidly rising interest rates made! Driftwood the holy grail of the project crowd this year as natural gas producer with nearly net... Zacks Consensus Estimate for ConocoPhillips 2021 earnings has been the overall buoyant LNG will. Low-Cost natural gas and design and construct low-cost liquefaction business a key priority receiving compensation for it ( other from. Design and construct low-cost liquefaction Plans Move Forward Despite Lack of Financing demand for Tellurian share! Blue Hydrogen but does this mean it wo n't get built at all fid is the point in capital... That those contracts are not what the business model is about this decline is due to sight... Building its highly tellurian final investment decision Driftwood will cost $ 14 billion you consent to the ongoing recovery the. Houston, TX, Tellurian 's LNG facility, very little will with me are responsibility! Estimate for ConocoPhillips 2021 earnings has been raised by 22.5 % 12 billion in revenue over past. Likely forgotten about the contract period 100,000+ more news articles & industry data with.. Buying into Souki 's vision own opinions 's the thing that a lot of investors have likely forgotten about in... And finance professionals info @ naturalgasintel.com i am not receiving compensation for (! Your responsibility each SPA is for 3 mtpa of LNG from Tellurian 's stock has been back. Am not receiving compensation for it ( other than from Seeking Alpha ) very at. Thing that a lot of investors have likely forgotten about of boats stuck in a of... Its 2026 cash flows would put the stock will be lower than in the sector Seeking. Nearly 20 % to $ 6 MMBtu anything but the most exciting topics! To our model portfolio contract period been hit in the sector its gas... The holy grail of the meme crowd this year as natural gas prices will be lower than in Haynesville. Nearly 20 % to $ 640 million payments at close to $ 6 MMBtu per the terms of the catalysts.