Tellurian Inc. (NYSEAMERICAN:TELL) Stock Sees Bullish Action: What’s The Buzz?
Tellurian Inc. (NYSEAMERICAN: TELL) jumped 7% last week after announcing that it ended last year with the liquidity of more than $300 million and a standardized measure of discounted prospective net cash flow of $360 million of verified natural gas deposits.
Market Stats
On Friday, TELL stock went up 3.30% to $3.77 with 19.47 million shares, compared to its average volume of 14.04 million shares. The stock moved within a range of $3.5908 – 3.9400 after opening trading at $3.60.
Tellurian Reports 2021 Results
Tellurian has continued to advance the Driftwood LNG project after significant accomplishments. The company finalized Driftwood LNG phase-one LNG sales and purchase agreements of around 9 million tonnes per year. Also, the company executed long-term ground leases deal with the Terminal district and Lake Charles Harbor.
CEO President Octavio Simoes said the world economy is in the initial phases of a super energy phase driven by robust demand for natural gas and years of energy infrastructures underinvestment. The company wants to continue its natural gas development initiative and anticipates finalizing drilling and putting into production the operated Haynesville wells this year. Also, the company is positioned to execute market-based LNG SPAS. So in the coming weeks, TELL is worth keeping an eye on.
Key Quote
President and CEO Octávio Simões said, “The global economy is in the early stages of an energy super cycle driven by strong demand for natural gas and several years of underinvestment in energy infrastructure. Tellurian is optimally positioned with fully executed market-based LNG SPAs and a permitted project. Bechtel will begin construction of Driftwood LNG in April and we will seek to conclude the financing process shortly thereafter.”
Traders Corner
TELL stock is trading above the 20-Day and 50-Day Moving averages of $3.17 and $2.93 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.46.