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Tellurian reports 1Q20 results

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LNG Industry,

Tellurian Inc. has reported its 1Q20 financial results and achievements.

Financial results

Tellurian ended its first quarter of 2020 with approximately US$55.5 million in cash and cash equivalents and approximately US$128.6 million in long-term debt. Tellurian’s balance sheet consisted of approximately US$364.3 million in assets. Proforma for the financing transactions which were completed in April, Tellurian would have ended the quarter with approximately US$100.7 million in cash and cash equivalents, approximately US$167.5 million in long-term debt, and approximately US$409.5 million in assets.

Tellurian reported a net loss of approximately US$40.7 million, or US$0.18 per share (basic and diluted), for the three months ended 31 March 2020.


  • Reduced corporate overhead to approximately US$6 million per month to begin in June.
  • Raised US$50 million in gross proceeds through issuance of US$56 million zero coupon, unsecured notes in April 2020.
  • Amended 2019 Term Loan, reducing the principal balance by US$22.1 million and extending its maturity to November 2021.

CEO comments

President and CEO Meg Gentle said, “Tellurian has taken actions to strengthen our balance sheet in the midst of extreme energy and financial market conditions. We have streamlined the organisation and arranged a US$50 million financing. We are lean, resolved, and focused on delivering our first project, Driftwood LNG.”

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