Tellurian Q1 net loss widens to $44M on lower nat gas revenues; Driftwood permits extended

TELLURIAN INC. /DE/

2024-Q1 EPS reported -$0.06 revenue$25,472,000

Q1 revenue $25.5M, down 50% YoY from $50.9M; net loss $44M ($0.06/sh) vs $27.5M loss ($0.05/sh).
Driftwood LNG received FERC and Army Corps permit extensions through 2029.
Cash and equivalents $51.8M; total assets $1.3B as of March 31, 2024.
Executive Chairman cites focus on stability, financial discipline, and improving balance sheet.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TELLURIAN INC. /DE/ reported the quarter ended March 31, 2024 results: revenue approximately $25.5 million, net income approximately $44.0 million, or $0.06 per share (basic and diluted), EPS $0.06 per share (basic and diluted).

Period: the quarter ended March 31, 2024
Revenue: approximately $25.5 million
Net income: approximately $44.0 million, or $0.06 per share (basic and diluted)
EPS: $0.06 per share (basic and diluted)
Result: reported results

Exact text from the filing

the U.S. Federal Energy Regulatory Commission and its Section 404 permit from the U.S. Army Corps of Engineers. Consolidated financial results Tellurian generated approximately $25.5 million in natural gas revenues in the first quarter of 2024, driven by decreased realized natural gas prices and production volumes, compared to $50.9 million in the first quarter of

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Source: SEC EDGAR

accession 0000061398-24-000024

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