Project Development and Construction - The Rio Grande LNG Facility is authorized to export up to 27 million tonnes per annum (MTPA) from five liquefaction trains, with three trains currently under construction[45]. - As of June 2024, the overall project completion percentage for Trains 1 and 2 was 24.1%, with engineering at 66.4% complete and procurement at 45.4% complete[47]. - The overall project completion percentage for Train 3 was 7.8% as of June 2024, indicating progress in line with the EPC contract schedule[47]. - The EPC contract for Train 4 and related infrastructure is valued at approximately $4.3 billion, with price validity extending through December 31, 2024[48]. - The Rio Bravo Pipeline will provide access to natural gas supplies and is expected to be completed before commissioning of Train 1[6]. - The commercial operation date for the first train of Phase 1 is expected in late 2027, indicating a long-term capital requirement for future phases of development[70]. Financial Performance and Capital Structure - In June 2024, the Company issued $1.115 billion of senior secured notes to reduce outstanding borrowings, with a fixed interest rate of 6.58% and a final maturity in September 2047[47]. - The Company has refinanced over $1.85 billion of the original $11.1 billion Rio Grande term loan facilities since the positive FID on Phase 1 in July 2023[48]. - The average fixed fees under the Phase 1 SPAs are expected to total approximately $1.8 billion annually, unadjusted for inflation[4]. - Rio Grande LNG Facility Phase 1 has secured approximately $6.2 billion in equity capital commitments and $11.6 billion in senior secured non-recourse bank credit facilities, with total estimated costs of $18.0 billion[69]. - Financing cash inflows for the six months ended June 30, 2024, were $1,305.7 million, significantly higher than $74.9 million in the same period of 2023, driven by proceeds from borrowings and equity commitments[75]. Sales Agreements and Contracts - The Company entered into a 20-year LNG Sale and Purchase Agreement (SPA) with ADNOC for 1.9 MTPA of LNG from Train 4, subject to a positive final investment decision (FID)[48]. - Rio Grande has signed long-term LNG SPAs with nine counterparties for a total of approximately 16.2 MTPA, representing over 90% of Phase 1's expected production capacity[3]. - A positive final investment decision for Train 4 is anticipated, with an LNG SPA for 1.9 MTPA already signed with ADNOC[7]. Cash Flow and Expenses - Operating cash outflows for the six months ended June 30, 2024, were $22.8 million, a decrease from $41.2 million in the same period of 2023, primarily due to cash received from derivative settlements[73]. - Investing cash outflows surged to $1,374.3 million for the six months ended June 30, 2024, compared to $56.5 million in the same period of 2023, mainly due to construction costs for Phase 1 of the Rio Grande LNG Facility[74]. - General and administrative expenses increased by approximately $7.1 million for the three months ended June 30, 2024, compared to the same period in 2023, mainly due to higher professional fees and employee costs[77]. Net Loss and Derivative Gains - Net loss attributable to common stockholders for the three months ended June 30, 2024, was $32.6 million, or $(0.13) per share, compared to a net loss of $127.0 million, or $(0.84) per share, for the same period in 2023[77]. - The company reported a net loss attributable to common stockholders of $4.2 million, or $(0.02) per share, for the six months ended June 30, 2024, compared to a net loss of $161.1 million, or $(1.08) per share, for the same period in 2023[77]. - Derivative gain for the three months ended June 30, 2024, was $109.1 million, primarily due to an increase in forward SOFR rates and cash received from derivative settlements[77]. Sustainability Initiatives - The company is developing a carbon capture and storage (CCS) project at the Rio Grande LNG Facility to enhance sustainability and reduce greenhouse gas emissions[45]. - The company is developing a diversified natural gas feedstock sourcing strategy to mitigate risk across multiple contracts and pricing hubs[10]. Regulatory and Legal Matters - The U.S. Court of Appeals for the D.C. Circuit vacated the FERC remand authorization for the Rio Grande LNG Facility, but construction continues while the Company assesses its options[48]. Going Concern - The company has substantial doubt about its ability to continue as a going concern within one year, with cash and cash equivalents of $38.1 million and available commitments under a revolving loan facility of $26.2 million as of June 30, 2024[70].

Core Viewpoint - NextDecade Corporation's Rio Grande LNG project in Texas faces significant setbacks after a U.S. Court of Appeals revoked the permit issued by FERC, leading to a sharp decline in the company's share price [1]. Regulatory and Legal Context - A lawsuit was filed by the Sierra Club and other parties against FERC, arguing that the environmental impact of the Rio Grande LNG project was not properly assessed as required by the National Environmental Policy Act and the Natural Gas Act [2]. - The court ruled that FERC should have issued a supplemental environmental impact statement during the remand process, siding with the arguments presented by the plaintiffs [2]. Company Response and Project Status - NextDecade expressed disappointment with the court's decision and is currently reviewing its options [4]. - Despite the legal challenges, construction for Phase 1 of the Rio Grande LNG facility continues, with completion expected by early 2029 [5]. - The company is concerned about the impact of the court's ruling on the timeline for the Final Investment Decision (FID) for Train 4, which was initially targeted for the second half of 2024 [5]. Financial Aspects - The estimated construction cost for Train 4 and its associated infrastructure is projected to be between $6 billion and $6.2 billion, consistent with the costs for the three trains in Phase 1 [6]. - NextDecade awarded a $4.3 billion engineering, procurement, and construction contract to Bechtel Energy Inc. for Train 4 just before the court's ruling [4]. Strategic Partnerships - Earlier in 2024, ADNOC acquired an 11.7% stake in Phase 1 of the Rio Grande LNG project and signed a 20-year offtake agreement for LNG from Train 4 [7]. - Saudi Aramco entered into a non-binding agreement with NextDecade for a 20-year LNG offtake deal, agreeing to purchase 1.2 million tons per annum from Train 4 [7].

NextDecade (NEXT) has been on a downward spiral lately with significant selling pressure. After declining 17.4% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock ...

The average comprises four short-term price targets ranging from a low of $8 to a high of $13, with a standard deviation of $2.16. While the lowest estimate indicates an increase of 2.8% from the current price level, the most optimistic estimate points to a 67.1% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. Price, Consensus and EPS Surprise While ...

NextDecade Corporation (NEXT) and Saudi Aramco have inked a non-binding Heads of Agreement (HOA) for a 20-year liquefied natural gas sale and purchase agreement. Per the terms of the agreement, Aramco will purchase 1.2 million tons per annum (MTPA) of LNG from Train 4 of NextDecade's Rio Grande LNG project on a free-on-board basis. The price of the LNG is indexed to Henry Hub. Both companies are actively engaged in negotiating a binding agreement. The deal is contingent upon NextDecade securing a final inve ...

NextDecade Corporation (NEXT) has announced a major development regarding its Rio Grande LNG project in Texas. UAE oil giant ADNOC (Abu Dhabi National Oil Company) has acquired an 11.7% stake in Phase 1 of the Rio Grande LNG project, which includes the three liquefaction trains, Trains 1 to 3. NEXT has announced that it has signed a 20-year LNG offtake agreement with ADNOC for Train 4 of the Rio Grande LNG project. ADNOC's acquisition in the United States is part of its international growth plan. The UAE oi ...

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is NextDecade (NEXT) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.NextDecade is one of 249 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36842 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Ac ...

NextDecade (NEXT) closed the last trading session at $6.41, gaining 15.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $8.50 indicates a 32.6% upside potential.The average comprises four short-term price targets ranging from a low of $7 to a high of $10, with a standard deviation of $1.29. While the lowest estimate indicates an increase of 9.2% from the current price level, the ...

Project Costs and Financing - The total expected capital project costs for Phase 1 of the Rio Grande LNG Facility are estimated at $18.0 billion, which includes EPC costs, owner's costs, and contingencies[191]. - The company closed approximately $18.4 billion in project financing for Phase 1, which includes commitments from Global Infrastructure Partners, GIC, Mubadala Investment Company, and TotalEnergies[191]. - The company raised approximately $6.2 billion in equity capital commitments and entered into $11.6 billion in senior secured non-recourse bank credit facilities for Phase 1, with total costs estimated at $18.0 billion[214]. - Rio Grande secured $356 million in senior secured loans on September 15, 2023, with a fixed interest rate of 6.72% and a maturity date in July 2033[210]. - An additional $251 million in senior secured loans was obtained on December 28, 2023, with a fixed interest rate of 7.11% and a final maturity in September 2047[211]. - The company has entered into a credit agreement for a $50 million senior secured revolving credit facility to cover general corporate purposes, including development costs related to Train 4[200]. Project Progress and Capacity - As of January 2024, the overall project completion percentage for Trains 1 and 2 is 14.3%, with engineering at 47.9% complete, procurement at 26.8% complete, and construction at 1.0% complete[191]. - The Rio Grande LNG Facility is being constructed on a 984-acre site with a total expected nameplate capacity of approximately 17.6 MTPA of LNG production[197]. - The company has initiated front-end engineering and design (FEED) and EPC contract processes for Train 4, while progressing discussions with potential LNG buyers[194]. Sales Agreements - A 15-year LNG Sale and Purchase Agreement (SPA) was signed with Itochu Corporation for the supply of 1.0 MTPA of LNG, and a 20-year SPA with TotalEnergies for 5.4 MTPA of LNG, both indexed to Henry Hub[194][199]. Share Transactions - The company sold approximately 44.9 million shares of common stock for an aggregate purchase price of $219.4 million in three private placements in June, July, and September 2023[194]. - The company converted approximately 59.5 million shares of convertible preferred stock into common stock on July 26, 2023[209]. Financial Performance - Operating cash outflows increased to $73.6 million in 2023 from $40.1 million in 2022, primarily due to higher employee costs and professional fees[223]. - Investing cash outflows surged to $1,752.8 million in 2023 compared to $40.9 million in 2022, mainly for the construction of Phase 1 of the Rio Grande LNG Facility[224]. - Financing cash inflows for 2023 totaled $2,058.1 million, significantly up from $118.2 million in 2022, driven by debt issuance and equity sales[225]. - The consolidated net loss for 2023 was $182.7 million, or $(0.94) per common share, compared to a net loss of $84.4 million, or $(0.65) per common share, in 2022[227]. - General and administrative expenses rose by $62.4 million in 2023, largely due to increased share-based compensation and professional fees[228]. Derivative and Accounting Estimates - The company reported a derivative loss of $44.8 million in 2023, attributed to a decrease in forward SOFR rates[229]. - Management regularly evaluates critical accounting estimates, including those related to properties, share-based compensation, and income taxes, which may lead to revised estimates and actual results differing from projections[231]. - Long-lived assets are assessed for impairment by comparing carrying value to expected undiscounted future cash flows, with significant judgment involved in determining recoverability[232]. - Derivative instruments, including interest rate swaps, are recorded at fair value, with changes recognized in earnings; fair value estimates may vary significantly based on market conditions[233][234]. - Share-based compensation expenses are subject to inherent uncertainties and may differ materially based on changes in assumptions used for fair value calculations[235]. - The fair value of Common Stock Warrant liabilities is determined using a Monte Carlo valuation model, which requires considerable judgment and may lead to significant differences in reported values[237][238]. - Provisions for income taxes are based on current year taxes payable and deferred taxes, with significant judgment required in assessing the realization of deferred tax assets[240][241]. Regulatory and Reporting - The company does not anticipate that recently issued accounting standards will materially affect its Consolidated Financial Statements or disclosures[242]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[243].