Tellurian Reports 2023 Financial Results and Driftwood LNG Progress
Subsequent to year end, Tellurian amended its senior secured notes and senior convertible notes to provide financial flexibility. While Tellurian provided additional collateral relating to the
Chief Executive Officer Octávio Simões said, “Tellurian ended 2023 with an exemplary safety record. Driftwood’s recent
Upstream segment results
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Three Months Ended
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Three Months Ended
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Net production |
16.4 Bcf |
20.7 Bcf |
Revenue |
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Operating (loss) profit |
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Adjusted EBITDA** |
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Operating activities
Tellurian produced 72.5 Bcf of natural gas for the year ended
Consolidated financial results
Tellurian generated approximately
As of
** Non-GAAP measure – see the end of this press release for a definition and a reconciliation to the most comparable GAAP measure.
About
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of LNG marketing and infrastructure assets that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of
Explanation and Reconciliation of Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in
Upstream segment Adjusted EBITDA excludes certain charges or expenditures. Upstream segment Adjusted EBITDA is a supplemental measure of performance and should not be viewed as a substitute for any GAAP measure.
Management presents Upstream segment Adjusted EBITDA because (i) it is consistent with the manner in which the Company’s position and performance are measured relative to the position and performance of its peers and (ii) it is more comparable to earnings estimates provided by securities analysts.
Upstream segment Adjusted EBITDA (in thousands): |
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Three Months Ended
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2023 |
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2022 |
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2023 |
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2022 |
Upstream segment operating (loss) profit |
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Add back: |
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Depreciation, depletion and amortization |
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Allocated corporate general and administrative |
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Upstream segment Adjusted EBITDA |
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240222601309/en/
Media:
EVP Public and Government Affairs
Phone +1.832.962.4044
joi.lecznar@tellurianinc.com
Investors:
Vice President, Investor Relations
Phone +1.832.320.9331
matthew.phillips@tellurianinc.com
Source: