Tellurian builds production in Q3, continues Driftwood discussions
US natural gas company Tellurian said November 2 it continued to build natural gas production in Q3 2023 and was in “a number of discussions” surrounding potential partnerships and offtake agreements from its Driftwood LNG project in Louisiana.
Net production in Q3 2023 increased to 19.5bn ft3 from 11.4bn ft3 in the comparable 2022 period, Tellurian said, but an average realised price of $2.22/’000 ft3 compared to $7.07/’000 ft3 yielded an operating loss of $12.6mn against an operating profit of $40.1mn in Q3 2022.
As at September 30, 2023, Tellurian had total assets of $1.3bn, including $59.3mn of cash and cash equivalents, and natural gas assets of 31,149 net acres of land and interests in 159 producing wells.