Published on 15 Jan 2024 on Zacks via Yahoo Finance

Tellurian (TELL) Hires Strategic Adviser to Handle Fiscal Woes

Tellurian Inc. (TELL), a struggling liquefied natural gas (LNG) developer, announced that it has enlisted the services of a financial adviser to aid in balance sheet management. This move comes in the wake of the recent ousting of the company's chairman and co-founder Charif Souki amid growing concerns about Tellurian's ability to cover its future expenses.

The decision to bring in a financial adviser was communicated by chairman Martin Houston in a letter addressed to shareholders. Houston stated that the adviser would play a crucial role in shaping commercial structures as well as balance sheet management, indicating a strategic effort to address the financial challenges faced by the company.

Earlier this month, Tellurian removed Souki from his position, just weeks after auditors raised doubts about the company's financial stability. The concerns primarily revolved around Tellurian's capability to meet upcoming financial obligations.