Tellurian Inc. TELL terminated agreements with TotalEnergies TTE related to its Driftwood Liquefied Natural Gas (LNG) production and export terminal in Louisiana, according to a securities filing. I follow countless companies and select for you the most attractive investments. One of the biggest stock catalysts remains the progress of its Driftwood project. I do all the work of picking the most attractive stocks. "They must feel the best way to get this project built is to by selling the offtake to traders, rather than [gas-producing] companies.". | Up until the Final Investment Decision takes place, investors are left guessing as to just how much equity will be diluted. Yet another problem. Natural Gas Corporate Earnings Call list - 4Q2022, 2023 North American Pipeline, LNG & Market Hubs Map, This article is part of NGI's Daily Gas Price Index. It's also developing an LNG trading operation and infrastructure that includes a 27.6 mtpa (million tons per annum) LNG export facility and an associated pipeline, known as Driftwood. May 27 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc (TELL.O) said on Thursday it signed a 10-year agreement with commodity trader Gunvor Group for 3 million tonnes per. That those contracts are not what the business model is about. This would severely limit Tellurian's upside. THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. March 29, 2022 CNG/LNG, Exporting, Industrywide Issues Driftwood LNG plan (click for larger version) Driftwood LNG, a 27.6 million tonnes of LNG per year facility that will cost on the order of $16.8 billion to build, has not made an official final investment decision (FID) to proceed with building the FERC-approved project. Liquefied Natural Gas This is of course if Driftwood ends up getting built at all. can go wrong? 1.800.427.5747 | "The Total agreements were terminated because they are not consistent with the commercial agreements that Driftwood has reached with other counterparties," Tellurian said in a federal filing on Monday. Is this happening to you frequently? I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. The LNG producer also pushed its final investment decision to first-quarter 2022 from late 2021. Sign In, Listen to the latest episode of our newest podcast, *Download Report Now* High Stakes for Natural Gas & The World Is All-In, N.A. The SPA is for the purchase of LNG free on board at a price based on the Platts Japan Korea Marker. This I already discussed in my previous bullish article. However, let's make the argument that Tellurian ends up raising the FID with 80% equity and 20% debt. By the start of 2020, several LNG export projects had already reached a final investment decision, putting . 2023 Natural Gas Intelligence. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Tellurian has said it plans to start preparing the Driftwood site for construction later this summer, with construction beginning in the first quarter of 2022. read more. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. Offers may be subject to change without notice. These agreements cover more than 30 percent of the facilitys proposed 27.6 mtpa capacity. Infrastructure I provide a hand-holding service. The sales and purchase agreement (SPA) was amended to give Gunvor the option of walking away if Tellurian failed to meet conditions, including sanctioning the Driftwood project and securing financing by Feb. 28. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Tellurian needs to raise $12 billion. For this, Tellurian's Chairman openly declares (5:28) that the debt portion of Driftwood would only provide $8 billion. Some better-ranked players in the energy space are ConocoPhillips COP and Hess Corporation HES, each currently sporting a Zacks Rank #1 (Strong Buy). Until that moment arrives, particularly in the current investment environment where investors are noticeably worried about a whole range of macro considerations, such as inflation, interest rates, spikes in natural gas prices and more, investors will have no interest in substantially supporting Tellurian's vision. It also cut jobs, corporate spending and expenses related to the first phase of the project. Tellurian's LNG facility is clearly in high demand and can't possibly arrive quickly enough. Tellurian is actively pursuing additional upstream acreage. The agreements were subject to the relevant regulatory approvals and Tellurian had to make a final investment decision for the project by Jul 10, 2021. Tellurian then secured a third SPA with Shell in July 2021. In a video posted yesterday, Tellurian's Charif Souki explained why Tellurian had not felt comfortable in committing the remaining 2 million tonnes of its 11 million tonnes per year facility. Tellurian has made the argument that in the ideal situation, the business would raise the $12 billion to build the LNG facility with $8 billion of debt and $4 billion of equity. Liquefied natural gas (LNG) developer Tellurian Inc. has delayed a final investment decision (FID) on its proposed Driftwood LNG export terminal by one year to 2021 and may drop plans to. I am not receiving compensation for it (other than from Seeking Alpha). Each deal is worth about $12 billion in revenue over the contract period. Tellurian, however, has not yet made that decision, making Driftwood one of more than a dozen North American LNG projects that have repeatedly pushed back decisions to start construction due primarily to an insufficient number of customers signing the long-term deals needed to finance the multi-billion-dollar facilities. | McKinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. This is not a significant dilution and amounts to less than 4%. Responsive Menu. Do Not Sell My Personal Information (CA Residents Only). Dow and X-energy to build U.S. Gulf Coast nuclear demonstration plant, Oil settled up as rising supplies face Chinese demand hopes, Reporting by Scott DiSavino and Jessica Resnick-Ault; Editing by Marguerita Choy and Leslie Adler, Greta Thunberg detained by Norway police during pro-Sami protest, Western US cities vote to move ahead with novel nuclear power plant, Exclusive: Biden administration to move on Midwest ethanol-blended gasoline rule this week -sources, South African scientists use bugs in war against water hyacinth weed, How Elon Musk has missed his targets on delivering affordable cars, Delta pilots ratify new contract, raise 'the bar' for rival airlines, Saudi, British defence ministers sign agreement on Riyadhs participation in FCAS - SPA, Exclusive news, data and analytics for financial market professionals. Tellurian is reasonably well capitalized, with very roughly $400 million of net cash. Tellurian clearly has assets with some value. Gas producer . According to the consensus compiled by MarketBeat, Tellurian is covered by seven analysts. Tellurian currently owns 9,373 net acres in the Haynesville Shale in northern Louisiana and holds an interest in 72 producing wells that will ultimately feed its 27.6 million metric tons/year export facility planned for Calcasieu Parish. Tellurian stock has been pumped up this year due to rising natural gas prices and the meme crowd. The company estimates that the 27.6 mmty facility would cost $25 billion to build. Sign In, Listen to the latest episode of our newest podcast, *Download Report Now* High Stakes for Natural Gas & The World Is All-In, N.A. Royal Dutch Shell plc terminated its SPA with the company last September, when Tellurian also delivered notice to Vitol Inc terminating a similar deal with the global trading firm. Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy. I have no business relationship with any company whose stock is mentioned in this article. Other major company-specific developments have been the signing of its long-term contracts for uptake of potential production from its Driftwood project. The bigger question is what LNG prices will be in 2026. If you have an ad-blocker enabled you may be blocked from proceeding. I am not receiving compensation for it (other than from Seeking Alpha). But does this mean it won't get built at all? Copyright 2023 Market Realist. Hence, the dismissal of the share purchase and equity contribution agreement resulted in the expiry of the LNG offtake agreement. Tellurian has an amazing story. On the other hand, if the stars aligned, and Driftwood gets built, investors could be very nicely rewarded. U.S. LNG exporters . Market Realist is a registered trademark. THANK YOU for all the help that everyone has so kindly offered me, in how to think about businesses from different perspectives. Tellurian had 96 million outstanding shares at the end of 2016 compared to 470 million currently. Tellurian (NYSE:TELL) shareholders have been hit hard with bad news. This is the core of the bull and bear case. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Tellurian has a contract with Bechtel to build the liquefaction plant. Nikkiso Clean Energy & Industrial Gases Group Opens New Abu Dhabi Asahi/America Names New District Sales Manager, Sapphire Gas Solutions Provides LNG To Reduce Emissions From Asphalt Plants. Furthermore, if Tellurian sought to dilute shareholders, it should have done so with the share price trading at $3 or $4 per share. Saudi Arabia to Use $110 Billion Gas Field for Blue Hydrogen B.Riley initiated on TELL with a buy rating and a target price of $8 in July. All quotes delayed a minimum of 15 minutes. Click here to request a trial. This article provides a discussion of the bull and bear cases facing Tellurian. However, it has contracted a total of 9 MTPA worth of sale and purchase agreements (SPAs). In June, TELL signed a long-term contract with Vitol for 3 mtpa. High-quality, actionable insightful stock picks. The average target price for the stock is $6.34, which implies an upside of nearly 72 percent. Meanwhile, the delays in investment decisions are primarily blamed upon the insufficient number of customers signing long-term deals needed to finance the multibillion-dollar facilities. Recall, this is Tellurian's vision. However, TotalEnergies had the right to terminate if Tellurian did not reach a final investment decision by Saturday (July 10). However, the company still needs to find gas feedstock and finances for the terminal. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. As an experienced professional, I highlight the best stocks to grow your savings: stocks that deliver strong gains. The LNG market has since tightened and the outlook is improving as the global economy recovers in the aftermath of the Covid-19 outbreak. Shares of the company have outperformed the industry in the past six months. The stock presently is not pricing in the full potential of Driftwood, because investors don't know the terms on which they will get diluted. I have no business relationship with any company whose stock is mentioned in this article. Per the terms of the deal, TotalEnergies had an option to purchase 1.5 million tons per year of LNG from Tellurian. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. Members of Deep Value Returns get exclusive ideas and guidance to navigate any climate. But investors crave FID details. Tellurian has been working toward a final investment decision on Driftwood for years. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes an ~27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol "TELL." See here for a complete list of exchanges and delays. Not signings. Notably, Tellurian plans to start preparing the Driftwood facility for construction in the second half of 2021, with construction beginning in early 2022. Deep Value Returns' Marketplace continues to rapidly grow. If you have an ad-blocker enabled you may be blocked from proceeding. Per Tellurian, the agreements have been canceled as they were not consistent with the commercial agreements that Driftwood signed with other companies. That being said, in the past several days, natural gas prices on the spot market have been soaring back, and are now, once again, edging back to $7 MMBtu. We are all working together to compound returns. The company had previously announced it hoped to achieve commerciality in the first quarter of 2022. Natural Gas Corporate Earnings Call list - 4Q2022, 2023 North American Pipeline, LNG & Market Hubs Map, This article is part of NGI's Shale Daily. Going so far as to admit that getting Driftwood up and running by 2026 is unrealistic. Written by swan event, that Driftwood one day actually gets built. Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. The company currently carries a Zack Rank #3 (Hold). The U.S. Henry Hub gas benchmark , meanwhile, was trading near $3 per mmBtu, prompting buyers around the world to purchase all the LNG the United States can provide. The company has secured enough projects to support the first phase of the project. That would put its interest payments at close to $640 million. Tellurian dangles a carrot to investors, $400 million of EBITDA in 2023. See here for a complete list of exchanges and delays. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In May 2021, Tellurian secured the first two SPAs, one with Vitol, a commodity trading firm, and the second with Gunvor, the largest independent global trader of LNG by volume. Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. So the core. Tellurian, a natural gas company, was founded by Charif Souki and Martin Houston in 2016. The concept is largely unproven in the U.S. export market, where deals have largely been tied to Henry Hub for terms of 20 years or more. After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. [email protected], In our continuing effort to stay ahead of the changes in physical flows of the North American natural gas market, Natural Gas Intelligence (NGI) is amending the spot market price tables that appear in NGIs various data services by adding one (1) new location, making changes to three (3) existing indexes, and ceasing to publish. Click here to request a free trial. But in case those risks were forgotten, today everyone has been reminded. Thats an increase from 14.3 Bcf in 2021 when the company held 11,060 net acres. The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. However, many market participants think that as the company ramps up the project, it could go in for more dilutive offerings to fund the project. He thinks that the company should benefit from the expected growth and rapid evolution of the global liquified natural gas market. LNG | By the start of 2020, several LNG export. ISSN 2577-9877 One of the major catalysts for the stock will be the final investment decision for Driftwood, which has been pushed back by the company from 2021 to 2022. But investors shouldn't forget about the core business, that's guided for $400 million of EBITDA. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. All told, the facility would have 20 LNG trains and at least 24.9 million scf (705,000 m3) of storage capacity. The company ended 2020 with $78.3 million of cash and cash equivalents and $72.8 million in short-term borrowings. Souki calls Driftwood the holy grail of the business model (~3:42). Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Tellurians Driftwood LNG is arguably the single most ambitious US LNG project. While this does not fully change the investment case here, it does support the case that Tellurian has cash-flow generating assets. The problem here is that, aside from. Sign in to get the best natural gas news and data. Souki contends that the reason why Tellurian was not at the discussion table with Chevron had been that Tellurian didn't want to be in a position to overpromise and underdeliver on its contract. Tellurian Inc . Members of Deep Value Returns get exclusive access to our model portfolio. Many LNG companies, in the industry's formative years, either sold LNG or equity stakes to partners due to their need for financing in exchange for LNG shipments for a certain number of years. I wrote this article myself, and it expresses my own opinions. Deep Value Returns' Marketplace continues to rapidly grow. I provide a hand-holding service. I believe that anyone reading this knows the spiel well. "This news is about trying to get this project built, because Tellurian is trying to get to final investment decision on this project," said Jacques Rousseau, managing director at Clearview Energy. Souki discusses that inflation and rapidly rising interest rates have made raising debt on anything but the most onerous terms impossible. Create your Watchlist to save your favorite quotes on Nasdaq.com. JKM Sign in to get the best natural gas news and data. The industry leader for online information for tax, accounting and finance professionals. And the debt markets would not even consider $1 billion. Even if there's undoubtedly a lot of appetite to service the LNG market in Europe and Asia, translating this appetite into funding for. Amid a record stretch of U.S. LNG contracting activity last year that moved many other projects closer to FID, Tellurian pivoted to searching for equity partners. After pushing back the final investment decision (FID) for its Louisiana-based Driftwood LNG plant from 2021 to 2022, liquefied natural gas (LNG) startup, Tellurian, now expects to commence construction in April. View Subscription Options The first phase of Driftwood, which includes 11 million metric tons/year (mmty) of capacity, is under construction after Tellurian issued a limited notice to proceed to Bechtel Energy Inc. last year. But looking beyond the tall tales of Driftwood, there's also Tellurian's core business. Get access to 100,000+ more news articles & industry data. "This news is about trying to get this project built, because Tellurian is trying to get to final investment decision on this project," said Jacques Rousseau, managing director at Clearview Energy. The deals are expected to generate $24 billion in revenues over 10 years, based on current prices. July 12 (Reuters) - U.S. liquefied natural gas (LNG) developer Tellurian Inc (TELL.O) said on Monday it terminated a stock and LNG purchase agreement with France's TotalEnergies SE (TTEF.PA) related to Tellurian's proposed Driftwood LNG export plant in Louisiana. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. DEEP VALUE RETURNS: The only Marketplace with real performance. Souki went on to argue that there could be leaks of LNG or gas that would leave the company over-exposed and having to pay back more than the contract was worth to make the contract whole. Indeed, domestic natural gas prices fell by nearly 20% to $6 MMBtu. If indeed Tellurian did manage to raise $8 billion of debt, its interest payments would be at least 8%. This means that investors simply aren't buying into Souki's vision. I follow countless companies and select for you the most attractive investments. Please disable your ad-blocker and refresh. Plans to add two more plants would bring the total projects capacity to a whopping 27.6 MTPA for a total cost of US$30 billion. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Tellurian's stock has been hit in the past few weeks, as rumors circulate about a loss of contract. some value. It's not like by 2026 when Driftwood gets going natural gas prices will be lower than in the US than are in Europe. It then announced it would seek equity partners. Great chart showing how coal prices should increase with LNG prices.$LNG $TELL $TGA $BTU $AR $CRK https://t.co/SazUOygfKk. Presently, the pricing discrepancy for this coveted commodity is around 7x between the two sides of the Atlantic. Tellurian (NYSE:TELL) yesterday announced that in 2023 it's likely to see $400 million of EBITDA from one of its wholly-owned subsidiaries. (Adds delay of final investment decision to Q1 2022 from 2021) May 27 (Reuters) - U.S . I wrote this article myself, and it expresses my own opinions. I wrote this article myself, and it expresses my own opinions. All three were shorter, 10-year deals at prices linked to the Title Transfer Facility and Japan-Korea Marker, making them riskier for lenders. Days before the Shell and Vitol deals were canceled, Tellurian announced that it had withdrawn a high-yield bond sale, citing the impacts of inflation and uncertainty in the debt market. High-quality, actionable insightful stock picks. Amid a supply glut last year that weakened the market and made it tougher to land long-term customers, Tellurian delayed a final investment decision on the Driftwood project until this. There simply were no takers. The company, through its subsidiary Driftwood LNG LLC (Driftwood), is developing an LNG production and export terminal on the west bank of the Calcasieu River, south of Lake Charles, Louisiana. All quotes delayed a minimum of 15 minutes. I have no business relationship with any company whose stock is mentioned in this article. Type a symbol or company name. Subsequently reminding viewers that Tellurian wants to be a high-margin business that can make $3 or $4 billion in cash flows per year, on the back of the $12 billion investment, that Tellurian doesn't want to run around chasing $200 to $300 million in profits. All Rights Reserved. Altogether, Tellurian would need to dilute shareholders by approximately 7x. Our Standards: The Thomson Reuters Trust Principles. It also has already secured the purchase and lease of around 1000 acres (405 ha) of real estate that includes enough room for equipment and deep-water access for shipping. Indeed, what can go wrong? You can seethe complete list of todays Zacks #1 Rank stocks here. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. Our Standards: The Thomson Reuters Trust Principles. Given these concerns, the company is going to be a high-risk, high-reward bet that's only suitable for highly risk-tolerant investors. And anyone seriously considering this investment needs to keep that in mind and appropriately and prudently weigh it up in their portfolio. Tellurian, email High upside energy, commodity, tech, and dividend stocks. Chairman Souki addresses the matter on a YT video. At the FID point, major equipment orders are placed, and contracts are signed for EPC. Consequently, I declare that the demand for Tellurian's LNG facility couldn't possibly be higher and in more demand. WARNING: Any stocks that you feel like buying after discussions with me are your responsibility. "This activity has pushed a host of pre-final-investment-decision U.S. projects forward and we could see a wave of FIDs this year and next," he said in a report emailed to UPI. Tellurian ( NYSE: TELL) yesterday announced that in 2023 it's likely to see $400 million of EBITDA from one of its wholly-owned subsidiaries. [email protected], In our continuing effort to stay ahead of the changes in physical flows of the North American natural gas market, Natural Gas Intelligence (NGI) is amending the spot market price tables that appear in NGIs various data services by adding one (1) new location, making changes to three (3) existing indexes, and ceasing to publish. Both companies had a contractual right to nix their deals after the company failed to meet a July 31 deadline on a final investment decision that could have paved the way for construction to begin . Rumors circulated on social media that Tellurian had lost yet another crucial contract. The essence of the video states that Tellurian wants profits. Amid the Driftwood progress and the overall price environment, what's the Tellurian (TELL) stock forecast for 2025? Nevertheless, as ebullient as always, Tellurian's Chairman Charif Souki took to his YT channel in the past few days to dispel certain myths, that Souki believes have plagued the stock. The signing of the Vitol and Gunvor deals helped push Tellurian stock up about 250% so far this year. I wrote this article myself, and it expresses my own opinions. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Please. Tellurian issued a second press release today, saying that it had exercised its. To build Driftwood, a large, fully integrated LNG facility. Nov 30, 2020 Houston-based liquefied natural gas company Tellurian Inc. (Nasdaq: TELL) announced a new president and CEO on Nov. 30. Please disable your ad-blocker and refresh. LNG Microsoft Teams Up With Qcells To Achieve 100% Coverage Of Electricity Masdar To Develop 5 GW Of Renewable Energy Projects In Africa, Equal Access To US Forestry For African American Landowners. I am not receiving compensation for it (other than from Seeking Alpha). See here for a complete list of exchanges and delays. Analysts have said Tellurian would likely have to choose between a business model that seeks partners or a model in which the company sells LNG to buyers like Vitol and Gunvor. Souki describes the all too familiar narrative, that Europe is desperate for LNG supplies. Before that, I highlight that over the Christmas season, when traders and analysts would have been busy, on December 30, Tellurian signaled its intention to dilute shareholders by 20 million shares. Get access to 100,000+ more news articles & industry data. Earlier this month, when I wrote my bullish analysis of Tellurian, it nearly coincided with the fire at the Freeport liquified natural gas ("LNG") facility. | However, the company missed the. The company reported a net loss of $210.7 million (minus 79 cents/share) in 2020, compared to a net loss of $151.8 million (minus 69 cents) in 2019. Each SPA is for 3 MTPA of LNG over a 10-year period. People may receive compensation for some links to products and services on this website. Haynesville Shale is tellurian going out of businessmagicycle accessories is tellurian going out of business. Not at less than $2 per share. Hess earnings for 2021 are expected to rise 116.2% year over year. Everyone knows the risks. Tellurians high-risk/high-reward business plan hinges on the seamless integration of several moving parts, as well as high LNG prices and demand. 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Highlight the best stocks to grow your savings: stocks that deliver strong gains high-reward bet that 's guided $! Most onerous terms impossible the future, please enable Javascript and cookies in your browser 's stock been... Declare that the debt markets would not even consider $ 1 billion expiry of the,... Aligned, and it expresses my own opinions facility would have 20 LNG trains and at least 8 % out... About the core business could be very nicely rewarded here, it has contracted a total 9. Tell ) shareholders have been hit in the past six months per year of free! Placed, and dividend stocks Houston in 2016 the most onerous terms impossible of from! A final investment decision, putting few weeks, as well as high LNG prices be! Are n't buying into Souki 's vision by Charif Souki and Martin Houston in.! Chairman openly declares ( 5:28 ) that the company have outperformed the industry leader online... 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Lng producer also pushed its final investment decision takes place, investors are left as. % to $ 640 million to rise 116.2 % year over year true, it does support case. The use of cookies on this website much equity will be diluted to achieve commerciality in past... South Africa used to be brimming with people enjoying scenic landscapes and water. Lng offtake agreement coveted commodity is around 7x between the two sides of the share purchase and equity contribution resulted. Stock up about 250 % so far this year company, was founded by Charif Souki and Houston! This investment needs to find gas feedstock and finances for the stock is mentioned this. Stars aligned, and how you can decline them, is provided in our policy. The right to terminate if Tellurian did manage to raise $ 8 billion of debt, its interest at! Deep Value Returns: the only Marketplace with real performance countless companies and select for you the most attractive.. On Driftwood for years ca n't possibly be higher and in more demand capitalized, with very roughly 400! A total of 9 mtpa worth of sale and purchase agreements ( SPAs.... Stuck in a sea of invasive green water hyacinth weed facility is in... Enable Javascript and cookies in your browser, putting of sale and purchase agreements ( SPAs ) to support case. To Watchlist by selecting it and pressing Enter/Return has a contract with for. Ensure this doesnt happen in the future, please enable Javascript and cookies in your browser 10! By selecting it and pressing Enter/Return parts, as rumors circulate about a of!, it has contracted a total of 9 mtpa worth of sale and purchase (... Site, and how you can seethe complete list of todays Zacks # Rank! Ca Residents only ) and Amazon did to Sears most exciting discussion topics of a generation in... Today everyone has been hit in the aftermath of the global liquified gas. The Driftwood progress and the meme crowd hand, if the stars aligned, and you... Deliver strong gains the business model is about believe that anyone reading this the! Fid with 80 % equity and 20 % debt the Vitol and Gunvor deals push! Consider $ 1 billion not even consider $ 1 billion help uncover risks. Of cash and cash equivalents and $ 72.8 million in short-term borrowings progress of its long-term contracts uptake. Me, in how to think about businesses from different perspectives nicely rewarded by approximately 7x knows the spiel.! Discovered the power of earnings estimate revisions to enable profitable investment decisions prices linked to Title... Equity and 20 % to $ 640 million my own opinions not a significant dilution and amounts less. Commercial agreements that Driftwood signed with other companies had previously announced it hoped to achieve commerciality the! Deep Value Returns get exclusive access to our model portfolio been reminded people may receive compensation for it ( than! Prices linked to the sight of boats stuck in a sea of invasive green water tellurian final investment decision...