Tellurian reports 47% increase in natural gas production for second quarter 2022
President and CEO Octávio Simões said, “Tellurian’s business model provides a unique proposition amongst
“While Tellurian continues to add natural gas production and sales revenue, we are also progressing with construction of Driftwood LNG, having cleared the site and begun an extensive pile driving program to set the foundation for the first plant,” Simões added.
Upstream segment results
|
Quarter ended |
Quarter ended |
Net production |
9.0 Bcf |
2.1 Bcf |
Revenue |
|
|
Operating profit (loss) |
|
( |
Adjusted EBITDA* |
|
( |
* Non-GAAP measure – see the end of this press release for a definition and a reconciliation to the most comparable GAAP measure.
Following the completion of the
Consolidated financial results
Tellurian generated approximately
Tellurian ended its second quarter of 2022 with approximately
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 natural gas production, LNG marketing and trading, and infrastructure 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
Tellurian will post a video by Executive Chairman
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
A non-GAAP financial measure the Company may present from time to time is the Upstream segment’s Adjusted EBITDA, which excludes certain charges or expenditures. The Upstream segment’s Adjusted EBITDA is a supplemental measure of performance and should not be viewed as a substitute for any GAAP measure.
Management presents the Upstream segment’s 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.
(in thousands, unaudited) |
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Three Months Ended
|
Six Months Ended
|
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2022 |
2021 |
2022 |
2021 |
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Upstream segment Adjusted EBITDA: |
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Upstream segment operating profit (loss) |
|
|
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
Interest expense |
— |
|
382 |
|
— |
|
1,635 |
Depreciation, depletion and amortization |
5,756 |
|
2,233 |
|
9,680 |
|
4,784 |
Net loss on extinguishment of debt |
— |
|
152 |
|
— |
|
665 |
Allocated corporate general and administrative |
8,952 |
|
1,891 |
|
14,446 |
|
7,159 |
Upstream segment Adjusted EBITDA |
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20220802006175/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: