In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tellurian Inc. (NASDAQ:TELL) reported that Total S.a. has picked up 45,999,999 of common stock as of 2017-05-11.
The acquisition brings the aggregate amount owned by Total S.a. to a total of 45,999,999 representing less than 22.7% stake in the company.
For those not familiar with the company, Tellurian Inc., formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc. The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia. The Horse Hill-1 well has identified prospects from the Portland sandstone and Kimmeridge Clay limestone formations.
A glance at Tellurian Inc. (NASDAQ:TELL)’s key stats reveals a current market capitalization of 2.59 Billion based on 202.65 Million shares outstanding and a price at last close of $11.55 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2011-09-23, Wilson picked up 596,804 at a purchase price of $1.52. This brings their total holding to 798,804 as of the date of the filing.
On the sell side, the most recent transaction saw Wilson unload 1,199 shares at a sale price of $0.55. This brings their total holding to 75,101.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tellurian Inc. (NASDAQ:TELL) as things move forward to see if its progress aligns with these transactions.
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