Tellurian, the developer of the Driftwood LNG project, has reached an agreement with an unnamed institutional investor to pledge its interest in the Driftwood project as collateral for the money it owes the investor, according to the company's latest SEC filing.
Tellurian had warned investors last fall that continued operating losses and dwindling cash reserves might not last a year given operating and debt costs. The going-concern warning preceded its ouster of Chairman Charif Souki.
The investor and Tellurian have agreed that the LNG developer can reduce its minimum liquidity requirement from $40.0 million to $25.0 million from February to April 2024.
Recommended Reading
Q&A: Pearl Energy Investments Rides the Downturns for 250% ROI
2025-02-25 - Billy Quinn, founder and managing director of Pearl Energy Investments, leads a team that thrives amid the oil and gas investment cycles.
Q&A: Petrie Partners Co-Founder Offers the Private Equity Perspective
2025-02-19 - Applying veteran wisdom to the oil and gas finance landscape, trends for 2025 begin to emerge.
More Players, More Dry Powder—So Where are the Deals?
2025-03-24 - Bankers are back and ready to invest in the oil and gas space, but assets for sale remain few and far between, lenders say.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
Haslam Family Office: ‘We Need Hydrocarbons’
2025-01-29 - The managing director of HF Capital—the office for Tennessee's Haslam family—says that as long as oil, gas and other energy sources are lacking capital, there’s an investment opportunity.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.