SUPPLEMENTAL DISCLOSURES ABOUT NATURAL GAS PRODUCING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

Extractive Industries [Abstract]

Summary of Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure

Capitalized costs related to Tellurian’s natural gas producing activities are summarized as follows (in thousands):

	December 31,
	2023		2022		2021
Proved properties	$	561,303	$	468,351	$	113,950
Unproved properties	—		—		—
Gross capitalized costs	561,303		468,351		113,950
Accumulated DD&A	(187,171)		(92,423)		(48,637)
Net capitalized costs	$	374,132	$	375,928	$	65,313

Summary of Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure

Costs incurred in natural gas property acquisition (inclusive of producing well costs), exploration and development activities are summarized as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Property acquisitions:
Proved	$	—	$	135,974	$	3,409
Unproved	—		—		—
Exploration costs	—		—		—
Development costs	116,045		210,546		28,955
Costs incurred	$	116,045	$	346,520	$	32,364

Summary of Oil and Gas Net Production, Average Sales Price and Average Production Costs Disclosure

The following table includes revenues and expenses directly associated with our natural gas and condensate producing activities. It does not include any interest costs or indirect general and administrative costs and, therefore, is not necessarily indicative of the contribution to consolidated net operating results of our natural gas operations. Tellurian’s results of operations from natural gas and condensate producing activities for the periods presented are as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Natural gas sales	$	166,128	$	270,977	$	51,499
Operating costs	88,276		53,963		20,576
Depreciation, depletion and amortization	95,202		43,966		10,998
Total operating costs and expenses	183,478		97,929		31,574
Results of operations	$	(17,350)	$	173,048	$	19,925

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities

	Gas (MMcf)	Gas Equivalent (MMcfe)
Proved reserves:
December 31, 2020	99,508	99,508
Extensions, discoveries and other additions	202,897	202,897
Revisions of previous estimates	35,237	35,237
Production	(14,306)	(14,306)
Sale of reserves-in-place	—	—
Purchases of reserves-in-place	—	—
December 31, 2021	323,336	323,336
Extensions, discoveries and other additions	113,047	113,047
Revisions of previous estimates	(52,185)	(52,185)
Production	(47,322)	(47,322)
Sale of reserves-in-place	—	—
Purchases of reserves-in-place	108,017	108,017
December 31, 2022	444,893	444,893
Extensions, discoveries and other additions	983	983
Revisions of previous estimates	(179,737)	(179,737)
Production	(72,476)	(72,476)
Sale of reserves-in-place	(15,627)	(15,627)
Purchases of reserves-in-place	—	—
December 31, 2023	178,036	178,036
Proved developed reserves:
December 31, 2021	73,927	73,927
December 31, 2022	218,382	218,382
December 31, 2023	178,036	178,036
Proved undeveloped reserves:
December 31, 2021	249,409	249,409
December 31, 2022	226,511	226,511
December 31, 2023	—	—

Summary of Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure

The following summary sets forth our future net cash flows relating to proved natural gas and condensate reserves based on the standardized measure (in thousands):

	Year Ended December 31,
	2023		2022		2021
Future cash inflows	$	326,246	$	2,441,930	$	945,651
Future production costs	(102,356)		(341,925)		(133,909)
Future development costs	(56,207)		(360,107)		(211,836)
Future income tax provisions	—		(257,908)		(54,401)
Future net cash flows	167,683		1,481,990		545,505
Less effect of a 10% discount factor	(42,254)		(445,686)		(181,302)
Standardized measure of discounted future net cash flows	$	125,429	$	1,036,304	$	364,203

The following sets forth the changes in the standardized measure of discounted future net cash flows (in thousands):

December 31, 2020	$	6,885
Sales and transfers of gas and condensate produced, net of production costs	(39,806)
Net changes in prices and production costs	110,850
Extensions, discoveries, additions and improved recovery, net of related costs	255,246
Development costs incurred	—
Revisions of estimated development costs	10,643
Revisions of previous quantity estimates	35,012
Accretion of discount	688
Net change in income taxes	(27,455)
Purchases of reserves in place	—
Sales of reserves in place	—
Changes in timing and other	12,140
December 31, 2021	$	364,203
Sales and transfers of gas and condensate produced, net of production costs	(236,374)
Net changes in prices and production costs	503,099
Extensions, discoveries, additions and improved recovery, net of related costs	255,970
Development costs incurred	154,931
Revisions of estimated development costs	(105,352)
Revisions of previous quantity estimates	(143,398)
Accretion of discount	36,420
Net change in income taxes	(127,154)
Purchases of reserves in place	262,050
Sales of reserves in place	—
Changes in timing and other	71,909
December 31, 2022	$	1,036,304
Sales and transfers of gas and condensate produced, net of production costs	(101,438)
Net changes in prices and production costs	(660,129)
Extensions, discoveries, additions and improved recovery, net of related costs	1,227
Development costs incurred	75,788
Revisions of estimated development costs	(88,121)
Revisions of previous quantity estimates	(331,376)
Accretion of discount	63,350
Net change in income taxes	154,609
Purchases of reserves in place	—
Sales of reserves in place	(30,124)
Changes in timing and other	5,339
December 31, 2023	$	125,429