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Total reduces Tellurian holdings: SEC filing

by Erika Green

Tellurian Inc. has reported a second quarter 2020 net loss of $128.8 million or 53 cents per share on its Haynesville Shale in Louisiana and East Texas.

That compares to a net loss of $40.5 million in 2Q 2019.

The company lost $40.7 million in 1Q 2020.

It reported an impairment of $81.1 million on its natural gas assets in the Haynesville Shale.

It reported 2Q 2020 revenues of $6.5 million, a 19% increase from the $5.3 million in 2Q 2019.

The company is continuing to push its Driftwood liquefied natural gas facility (LNG) in Louisiana.

It has signed a contract with Total SA that owns a 17.4% stake in the LNG project.

The company has reduced its Tellurian holdings from 19% in recent months and a Total representative has stepped down from the Tellurian board of directors, according to filings with the U.S. Securities and Exchange Commission.

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