HOUSTON, Texas, USA (June 17, 2019) — NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today that it has appointed Brent Wahl as Senior Vice President, Finance.
In this role, Mr. Wahl will be responsible for
leading the financing needs of NextDecade’s Rio Grande LNG project as part of the
company’s efforts to provide the largest LNG export solution linking Permian
Basin associated gas to the global LNG market. Mr. Wahl will be particularly
focused on project-level debt and equity financing for the construction of
NextDecade’s Rio Grande LNG project in the Port of Brownsville, Texas.
“Brent is widely known as one of the LNG
industry’s preeminent financial advisors, and we are thrilled to have him join our
leadership team,” said Matt Schatzman, NextDecade’s Chairman and Chief
Executive Officer. “Brent brings considerable expertise to carry out our Rio
Grande LNG financing plans and work with our joint project-level financial
advisors, Société Générale and Macquarie Capital.”
Prior to joining NextDecade, Mr. Wahl was a
Senior Managing Director and Head of Midstream Investment Banking for North
America at Macquarie. During his nine years at Macquarie, Mr. Wahl handled advisory
assignments and capital raises for companies across the energy value chain,
including more than $15 billion of debt and equity in support of the
construction of LNG facilities in North America.
“I am pleased to join NextDecade as the
company approaches a final investment decision on its ideally positioned Rio
Grande LNG project later this year,” said Mr. Wahl. “NextDecade is deploying a solutions-oriented
approach to provide Permian Basin producers natural gas flow assurance and
access to the global LNG market, and I am delighted to help execute this
Mr. Wahl has more than 20 years of experience
in the energy industry, having also worked at J.P. Morgan and Bank of America. During
his career, Mr. Wahl has participated in more than $50 billion of financings
and more than $100 billion of announced M&A transactions.
Mr. Wahl holds a Bachelor of Science Degree in
Economics from the University of Western Ontario and a Master’s Degree in
Business Administration from the Richard Ivey School of Business at the
University of Western Ontario.
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About NextDecade Corporation
NextDecade is a liquified natural gas (LNG) development company focused on LNG export projects and associated pipelines in Texas. NextDecade intends to develop the largest LNG export solution linking Permian Basin associated gas to the global LNG market, creating value for producers, customers, and stockholders. Its portfolio of LNG projects includes the 27 mtpa Rio Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that would transport natural gas from the Agua Dulce area to Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, 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 “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and 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; its ability to secure additional debt and equity financing in the future to complete its contemplated projects; the accuracy of the estimated costs for the projects; governmental approval of construction and operation of the projects; the successful completion of the projects by third-party contractors; its ability to generate cash; the development risks, operational hazards, regulatory approvals applicable to the projects’ construction and operations activities; its anticipated competitive advantage; the global demand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; legislation and regulations relating to the LNG industry; negotiations for the project site lease and right-of-way options for the pipeline route; compliance with environmental laws and regulations; the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2018 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference.
Additionally, any development of the projects remains contingent upon completing required commercial agreements; acquiring all necessary permits and approvals; securing all financing commitments and potential tax incentives; achieving other customary conditions; and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.