Tellurian Inc (TELL)

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Sector Update: Energy
MT NEWSWIRES 6:08 AM ET 4/17/2018

08:08 AM EDT, 04/17/2018 (MT Newswires) -- Energy shares were steady in pre-market trading on Tuesday. Exxon Mobil (XOM) was up 0.5%, Chevron (CVX) was up 0.5%, Schlumberger (SLB) was up 0.4%, Occidental Petroleum (OXY) was up 0.1% and ConocoPhillips (COP) was up 0.3%.

Light, sweet crude oil for May delivery was up 0.1% at $66.30 per barrel, while natural gas was down fractionally at $2.73 per million Btu.

In energy ETFs, the United States Oil Fund(USO) was down 0.07% at $13.37 while the United States Natural Gas ETF (UNG) was down 0.8% at $22.51.

In stocks news, Tellurian (TELL), the Houston-based natural gas company, is reportedly seeking investors to pay a total of $12 billion up front to finance a liquefied natural gas (LNG) export terminal in Louisiana, according to Bloomberg.

The natural gas company is in advanced talks with potential partners for the proposed Driftwood LNG terminal, the report said, citing CEO Meg Gentle.

In return for the funding, investors would receive a stake in the project and have the option to acquire fuel at cost. Partners in the first phase of the development would also receive a board seat, the report added.

Price: 13.37, Change: -0.01, Percent Change: -0.07

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