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Houston-based Tellurian Inc. (TELL) has officially filed for approval with the Federal Energy Regulatory Commission to build an LNG export facility. The company has cleared the prefiling phase on the Driftwood LNG project and the associated Driftwood Pipeline, according to a Tellurian press release. The LNG export facility, which will be built near Lake Charles, Louisiana, is expected to produce its first product in 2022, with full operations starting in 2025, according to the release.
Houston-based Tellurian Investments, a liquefied natural gas export company founded last year by Charif Souki and Martin Houston, completed its merger with Denver-based Magellan Petroleum Corp. (MPET). The combined Houston-based company is called Tellurian Inc., and Magellan’s stock now will trade on the Nasdaq under the new ticker symbol “TELL,” according to a Feb. 10 press release . According to the August announcement, each share of Tellurian was to be converted into the right to receive 1.3 shares of Magellan, which would issue 122 million common shares — about 95 percent of Magellan’s pro forma outstanding common stock — to Tellurian shareholders.
It is no secret that investors have had great enthusiasm since the November election. What should be considered is that investors had found many other non-election reasons to buy stocks on pullbacks throughout ...