Tellurian Inc. (TELL) is a company founded in 2016 with the aim to bring a change to the natural gas industry. Under the leadership of CharifSouki the company has come a long way and has now delivered a total of 70M tons of LNG throughout its operation with almost 100 drillable locations. While staying true to the environment the company has implemented strategies to create low-cost methods of securing natural gas while also working for the advancements in the renewable energy. Tellurian has attracted investors due to its innovative leadership and approach towards the development of Oil and Gas Sector. Being operated from Houston, the company is listed on NASDAQ under the symbol of “TELL”.
TELL stock has dropped down from 3.51 from the previous close to a current price of 2.97 with a drop of 15.24% in the pre-market. With an average trading volume of 9.658M and a market cap of 1.5B Tellurian Inc. (TELL)’s stock has dropped down by -20.77% in the month. But this week has been good as the value has risen by over 2.63%.
Public Offerings on Common Stock
Tellurian Inc. (TELL) has recently announced public offerings of 35,000,000 for its common stocks. The offering is expected to close on August 6th. According to the official sources the company has the intentions of buying assets in the future from the net proceedings. Tellurian has also granted the underwriter of this offering a 30-day option to purchase a total of 5,250,000 additional shares of the common stock.
Q2 Ending Good or Bad?
On August 3 TELL has released its Q2 report for 2021. According to TELL’s official data, a total revenue of $5.6M was generated in this quarter from the sale of natural gas. Overall The company has suffered losses of $30.6M with a loss of $0.08 per share. According to the CEO, the company has strengthened its balance sheet while enhancing their drilling programs as well.
The Last Surge
A few days back the stock price closed with a 9% increase on July 29. The reason? Tellurian Inc. (TELL) signed a 10-year contract with Royal Dutch Shell. A multinational company that has made its name in the Oil and Gas Sector. The contract is about the 3M metric tons of LNG in a year. This contract turned out to be very good for the company as the price had rose to a significant level.
TELL has strong future plans for itself. By signing this deal, the company is one step closer to the Driftwood project and by selling its common stock the company has high plans to buy assets in the future that is going to help the company grow a lot more.