Tellurian Inc. said it could soon be insolvent unless it raises more capital to pay off debt and fund its operations as plans to develop the Driftwood LNG export terminal in Louisiana haven’t become a reality. 

The company said in its quarterly report filed with the U.S. Securities and Exchange Commission (SEC) that it faces borrowing costs of $391 million in addition to another $15 million of other debt due over the next year. The company said it has just $83 million in cash and accounts receivable, which it said likely won’t be enough to cover its expenses or debt covenants. 

“These conditions raise substantial doubt about our ability to continue as a going concern within one year after the date that the financial statements are issued,” Tellurian said in the 10-Q...