Tellurian gains as company explores sale of upstream business
06/02/2024 15:13
** Liquefied natural gas firm Tellurian's TELL.A shares
rise ~21% to $0.44
** Company says it is exploring sale of its Haynesville
upstream business, as it looks to raise capital for its
Driftwood LNG project
** "By unlocking the full value of these high-quality
assets, we aim to substantially reduce our debt, further reduce
our general and administrative expenses, and provide additional
cash, enabling us to develop Driftwood LNG" - Tellurian CEO
Octávio Simões
** Including session's gains, company's shares down 42.4%
YTD
(Reporting by Roshia Sabu in Bengaluru)
((Roshia.Sabu@thomsonreuters.com))