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HOUSTON - NextDecade Corporation (NASDAQ:NEXT), currently trading at $7.44 with a market capitalization of $1.95 billion, announced Wednesday that Chief Financial Officer Brent Wahl will resign effective October 20, 2025, to join a digital infrastructure company. The company has appointed Mike Mott, Senior Vice President Enterprise Transformation, as Interim Chief Financial Officer. According to InvestingPro analysis, NextDecade is currently trading above its Fair Value, with significant challenges ahead including substantial debt obligations.
Wahl has agreed to serve in a consultant capacity through December 31, 2025, to facilitate the transition while the company initiates a search for a permanent successor.
"As CFO of NextDecade, Brent and his team led one of the largest energy infrastructure financings in US history," said Matt Schatzman, Chairman and CEO of NextDecade, in a press release statement.
Mott brings experience from various roles to his interim position. He currently leads NextDecade’s enterprise transformation program and previously oversaw Carbon Solutions and corporate strategy at the company. His prior experience includes serving as Chief Financial Officer of LNG Limited and holding senior strategy, finance and operations positions at BG Group.
NextDecade, which focuses on developing natural gas liquefaction and carbon capture infrastructure, maintains its expectation to achieve a positive final investment decision on Train 5 and related infrastructure at its Rio Grande LNG project by November 15, 2025, subject to obtaining adequate financing.
The company is developing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development, according to the company statement.
In other recent news, NextDecade Corporation announced a positive final investment decision (FID) on Train 4 at its Rio Grande LNG facility. The company has secured approximately $6.7 billion in financial transactions to fund this project, including a $3.85 billion term loan and significant equity commitments. Following this announcement, Morgan Stanley downgraded NextDecade from Overweight to Equalweight due to a lower cash flow outlook, adjusting the price target to $10.00. Additionally, NextDecade’s Chief Financial Officer, Brent Wahl, will resign effective October 20, 2025, to pursue a new opportunity in the digital infrastructure industry, with Michael Mott stepping in as interim CFO. To ensure a smooth transition, Wahl will remain as a consultant until the end of the year. Meanwhile, Dynagas LNG Partners filed a Form 6-K with the SEC, detailing financial results and analysis for the first half of 2025. The filing includes interim unaudited consolidated financial statements, which are incorporated into its registration statement. These developments provide insight into the strategic financial maneuvers and leadership changes within these companies.
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