THE WOODLANDS, Texas--(BUSINESS WIRE)--NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced several corporate updates today, including plans to participate in three investor conferences in December 2017 and the addition of key personnel to its industry-leading team.
As part of the Company’s investor outreach initiative, members of the NextDecade management team regularly participate in non-deal roadshow activities. NextDecade is pleased to announce that it has accepted three invitations to investor conferences in the month of December 2017.
Matt Schatzman (President), Ben Atkins (Chief Financial Officer), and Patrick Hughes (VP, Corporate Strategy & Investor Relations) will make presentations and have 1x1 investor meetings in conjunction with each of the three below-listed conferences.
Cowen Energy & Natural Resources Conference (December 4-5, 2017)
Le Parker Meridien New York
NEXT Presentation: December 5 @ 10:50 a.m. ET
Wells Fargo Pipeline, MLP, and Utility Symposium (December 6-7, 2017)
New York Hilton Midtown
NEXT Presentation: December 6 @ 8:40 a.m. ET
Height Securities LNG Investor Conference (December 12-13, 2017)
The Westin New York Grand Central
NEXT Presentation: December 12 @ 1:30 p.m. ET
NextDecade is pleased to announce the addition of key personnel to its industry-leading team as it works to advance its projects to final investment decision. In addition, NextDecade has plans to establish representative offices in certain East Asian and Southeast Asian markets in the near future, and to staff these offices with commercial team members with relevant project development and LNG marketing experience.
- Chris Migura will join NextDecade as Deputy General Counsel on December 1, 2017. Mr. Migura brings more than 15 years of legal experience, including an extensive background in negotiating LNG Supply and Purchase Agreements. Mr. Migura joins NextDecade from Occidental Petroleum, where he served as Assistant General Counsel. He previously worked for BG Group in various legal capacities for 13 years, most recently as Chief Counsel.
- Raquel Couri will join NextDecade as Vice President of Human Resources and Administration on January 4, 2018. She joins NextDecade with more than 15 years of experience in the field. She was previously with BG Group for more than 13 years, most recently leading HR functions for BG’s global trading and shipping business unit.
The below accounting and legal professionals began working for NextDecade in recent months.
- Eric Garcia was appointed Chief Accounting Officer of NextDecade. Mr. Garcia was previously an audit managing director with KPMG LLP, where he spent 15 years serving companies in the LNG, oil and gas, and power and utilities industries. He received a Bachelor of Business Administration degree from the Anderson School of Management at the University of New Mexico. He is a Certified Public Accountant in Texas and New Mexico and a member of the American Institute of Certified Public Accountants.
- Gabriel Gutierrez was appointed Associate General Counsel, Corporate and Compliance, and is responsible for assisting NextDecade with its SEC reporting and disclosure requirements and advising NextDecade on compliance with federal securities laws, stock exchange rules, and corporate governance. Prior to joining the Company, Mr. Gutierrez worked for two large law firms in their corporate, securities, and M&A practice groups. He practiced as a Certified Public Accountant prior to becoming an attorney.
NextDecade is a development company focused on delivering liquefied natural gas (LNG) from projects in the State of Texas to partners and customers around the world. Among its portfolio of projects is Rio Grande LNG, a 27 mtpa project on a 1,000-acre site in the Port of Brownsville. NextDecade is a leader among the second wave of U.S. project sponsors. Rio Grande LNG represents a low-cost, reliable LNG solution for customers around the world. Significant competitive advantages are listed below.
- NextDecade is using proven liquefaction technology from Air Products (C3MR) to develop one of the lowest cost U.S. LNG facilities. The Company’s engineering, procurement, and construction (EPC) cost estimate is $478-502 per ton; NextDecade is targeting further improvements to reduce EPC costs to as low as $450 per ton, working closely with Chicago Bridge & Iron (EPC contractor) and BakerHughes, a GE Company (partner for processing equipment and a NextDecade shareholder). NextDecade is in the process of finalizing detailed negotiations for its lump-sum turnkey (LSTK) EPC contract with CB&I.
- Rio Grande LNG is located in close proximity to low-cost gas reserves in the Permian Basin and Eagle Ford Shale. Multiple midstream companies have already announced significant pipeline projects from Waha to Agua Dulce, where NextDecade’s twin 42-inch pipelines (Rio Bravo) will originate. NextDecade’s Rio Grande LNG project can be viewed as a pipeline to the world for U.S. E&P companies who require an outlet for associated gas, in particular, from the Permian Basin.
- NextDecade can take a final investment decision (FID) on the Rio Grande LNG project for as few as two trains (approximately 9 mtpa). The project is scalable up to 6 trains (27 mtpa). NextDecade intends to develop the full 6-train plant at Rio Grande LNG, but does not need to develop the full-scale facility in order to offer customers significant cost advantages, environmental benefits, and reliable LNG supply.
- NextDecade is advancing through the Federal Energy Regulatory Commission (FERC) process. NextDecade expects to receive a notice of schedule for its Rio Grande LNG project in the near future, and to receive a final authorization in the second half of 2018.
- NextDecade has a seasoned leadership team with marketing and development experience to execute its projects, and strong partnerships in the institutional asset management community.
About NextDecade Corporation
Based in The Woodlands, Texas, NextDecade is a developer of LNG projects providing customers access to the full LNG value chain. NextDecade comprises a team of industry leaders with extensive experience marketing, developing, and managing LNG, FLNG, and FSRU projects, as well as associated natural gas infrastructure around the world. For more information, please visit www.next-decade.com.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “believe”, “expect”, “intend”, “plan”, “potential”, and similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade Corporation and its affiliates. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about NextDecade’s Rio Grande LNG and Rio Bravo pipeline projects and other matters discussed in the “Risk Factors” section of the definitive proxy statement filed by Harmony on June 29, 2017 and other subsequent reports filed with the Securities and Exchange Commission (the “SEC”), all of which are incorporated herein by reference. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.