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Stock impact report

Tellurian Goes All in on LNG with Upstream Divestiture to Aethon [Yahoo! Finance]

Stifel Financial Corporation (SF) 
Last stifel financial corporation earnings: 7/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: stifel.com/investor-relations
Company Research Source: Yahoo! Finance
While proceeds from the divestment will be used to reduce Tellurian's debt, financial headwinds remain. “The proceeds from the sale of our upstream assets allow us to retire senior secured notes and strengthen our balance sheet for the long term,” Tellurian Executive Chairman Martin Houston said in the release. Houston said the deal was an important moment for the company as it makes progress on its strategic plan. RELATED Aethon to Acquire Tellurian Haynesville Shale Assets for $260MM Analysts painted a harsher reality for Tellurian's finances. The company sold its upstream assets for nearly $100 million less than their book value. “The reality is if they use their proceeds plus a little cash that they've been generating, they can get rid of the 2025 maturities [but] they'll still have a 2028 maturity outstanding and no cash flow,” Stifel Financial Corp. Managing Director Ben Nolan told Hart Energy on May 29. Stifel had estimated Tellurian's upstream assets were worth abou Show less Read more
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