Cheniere Energy might have been heavily criticized by some Oklahoma farmers and the Federal Energy Regulatory Commission over the way it failed to cleanup Oklahoma farmland following construction of the Midship pipeline, but the company had a heathy quarter ending June 30.
The company reported consolidated adjusted EBITDA of nearly $1 billion for the quarter and a net loss of $329 million. Cheniere’s net income for the past three months was $64 million while its adjusted EBITDA was nearly $2.5 billion for the last six months of operations.
Its three-month distributable cash flow was $340 million while the flow for the six month period was $1.09 billion. It resulted in a nearly 30% increase over the first six months of 2020.
The company reported it fully repaid the remaining outstanding borrowings under its term loan facility in the first half of 2021. It also fully repaid its 4.875% convertible notes due May 2021 with $500 million available cash.
Cheniere entered into several fixed-fee LNG sales agreements with multiple counterparties for portfolio volumes aggregating nearly 12 million tons of LNG to be delivered between 2021 and 2032.
“Our outlook for the balance of the year has improved yet again, with sustained higher LNG prices and an improved production forecast from our LNG facilities enabling us to increase our full year 2021 financial guidance for the third consecutive quarter,” said Jack Fusco, Cheniere’s President and Chief Executive Officer.
Source: Business Wire