8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2020

Tellurian Inc.

(Exact name of registrant as specified in its charter) 

Delaware			001-5507		06-0842255
(State or other jurisdiction of incorporation or organization)			(Commission File Number)		(I.R.S. Employer Identification No.)
1201 Louisiana Street,	Suite 3100,	Houston,		TX	77002
(Address of principal executive offices)					(Zip Code)

(832) 962-4000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common stock, par value $0.01 per share	TELL	NASDAQ	Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 2.02 Results of Operations and Financial Condition.

On August 5, 2020, Tellurian Inc. issued a press release reporting financial results for the quarter ended June 30, 2020 and related information. A copy of the press release is attached to this report as Exhibit 99.1.

The information in this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.	Description
99.1*	Press Release dated August 5, 2020
104	Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

* Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

TELLURIAN INC.
By:	/s/ Kian Granmayeh
Name:	Kian Granmayeh
Title:	Executive Vice President & Chief Financial Officer

Date: August 5, 2020

EX-99.1

Tellurian reports second quarter 2020 results

HOUSTON, Texas – (BUSINESS WIRE) August 5, 2020 -- Tellurian Inc. (Tellurian) (NASDAQ: TELL) continues to build its integrated global natural gas business. Notable Tellurian achievements during the second quarter of 2020 and thereafter included raising $57.5 million in net proceeds through issuances of common stock. Pro forma cash and cash equivalents as of quarter end would be approximately $122.9 million after giving effect to financing transactions executed during July.

President and CEO Meg Gentle said, “Tellurian has used the last few months to streamline Driftwood LNG, which is one of the lowest cost projects available globally at approximately $1,000 per tonne. Driftwood LNG is an integrated project, including production of low-cost gas from the Haynesville shale, which supports a new U.S. LNG pricing mechanism projected to enable equity partners to load LNG at about $3.50 per mmBtu. Tellurian continues working to secure equity partners from around the globe and looks forward to delivering reliable energy in 2024.”

Financial results

Tellurian ended its second quarter of 2020 with approximately $88.3 million in cash and cash equivalents and approximately $33.9 million short-term borrowings. Tellurian’s balance sheet consisted of approximately $315.9 million in total assets. Pro forma for the financing transactions completed in July, Tellurian would have ended the quarter with approximately $122.9 million in cash and cash equivalents, approximately $106.1 million in long-term debt, and approximately $350.5 million in assets.

Tellurian reported a net loss of approximately $128.8 million, or $0.53 per share (basic and diluted), for the three months ended June 30, 2020.Results include a one-time non-cash charge of approximately $81.1 million for impairment of the book value of our natural gas properties due to the impact of declining commodity prices.

About Tellurian Inc.

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 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”.

For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG

1201 Louisiana Street Suite 3100 Houston, TX 77002 TEL +1 832 962 4000 www.tellurianinc.com

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood project, costs of LNG and timing of LNG delivery. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2019, and other Tellurian filings with the Securities and Exchange Commission, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.

Contact

Media: Joi Lecznar SVP Public Affairs and Communication Phone +1.832.962.4044 joi.lecznar@tellurianinc.com Investors: Matt Phillips Senior Manager, Investor Relations Phone +1.832.320.9331 matthew.phillips@tellurianinc.com

1201 Louisiana Street Suite 3100 Houston, TX 77002 TEL +1 832 962 4000 www.tellurianinc.com

XML

Cover	Aug. 05, 2020	May 04, 2020
Cover [Abstract]
Document Type		8-K
Document Period End Date	Aug. 05, 2020
Entity Registrant Name		TELLURIAN INC. /DE/
Entity Central Index Key		0000061398
Amendment Flag		false
Entity Incorporation, State or Country Code		DE
Entity File Number		001-5507
Entity Tax Identification Number		06-0842255
Entity Address, Address Line One		1201 Louisiana Street,
Entity Address, Address Line Two		Suite 3100,
Entity Address, City or Town		Houston,
Entity Address, State or Province		TX
Entity Address, Postal Zip Code		77002
City Area Code		832
Local Phone Number		962-4000
Written Communications		false
Soliciting Material		false
Pre-commencement Tender Offer		false
Pre-commencement Issuer Tender Offer		false
Title of 12(b) Security		Common stock, par value $0.01 per share
Trading Symbol		TELL
Security Exchange Name		NASDAQ
Entity Emerging Growth Company		false
Document Information [Line Items]
Document Period End Date	Aug. 05, 2020