HOUSTON, TX USA–May 10, 2019–NextDecade Corporation (NextDecade) (NASDAQ: NEXT) mourns the loss of Kathleen M. Eisbrenner, 58, Founder and Chairman of the Board of Directors.
“It is with great sorrow that we announce the untimely passing of our friend and colleague,” said Matthew K. Schatzman, President and Chief Executive Officer of NextDecade. “Kathleen was a true energy industry pioneer. We at NextDecade are grateful for her foresight and leadership, without which we would not be where we are today.”
“We extend our deepest sympathies to Kathleen’s devoted husband, Ray, and the Eisbrenner family,” Schatzman continued. “All of us at NextDecade are fortunate to have known and worked with Kathleen over the years, and remain firmly committed to the realization of her vision.”
Mrs. Eisbrenner founded NextDecade in 2010 and led the company to its listing on the Nasdaq Stock Market in July 2017. She served jointly as Chairman and Chief Executive Officer until February 2018, and remained as NextDecade’s Chairman of the Board of Directors until her death.
Mrs. Eisbrenner enjoyed a remarkable career, and was widely viewed as one of the foremost female executives in the global LNG industry. She was formerly Executive Vice President at Royal Dutch Shell, where she was responsible for the management of the company’s global LNG portfolio and LNG trading business.
Prior to Shell, Mrs. Eisbrenner was the founder and Chief Executive Officer of Excelerate Energy, focused on developing the Floating Storage Regasification Unit (FSRU) vessel and industry. She also held various senior management positions at El Paso Energy.
Mrs. Eisbrenner was an Independent Director of EXMAR and a member of the American Bureau of Shipping, JERA’s Fuel Business Expert Advisory Board, and Junior Achievement of Southeast Texas. She was also a former member of the Board of Directors of Chesapeake Energy and the National Petroleum Council. Mrs. Eisbrenner was a proud graduate of the University of Notre Dame, where she earned a Bachelor of Science degree in Civil Engineering in 1982.
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.
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