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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 03, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	NextDecade Corp.
Entity Central Index Key	0001612720
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Common Stock Outstanding		109,979,473
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 5,569	$ 3,169
Investment securities	56,088	72,453
Prepaid expenses and other current assets	1,781	1,310
Total current assets	63,438	76,932
Property, plant and equipment, net	96,026	92,070
Operating lease right-of-use assets, net	1,378
Total assets	160,842	169,002
Current liabilities
Accounts payable	1,513	719
Share-based compensation liability	402	3,018
Accrued liabilities and other current liabilities	4,187	8,353
Current operating lease liabilities	1,320
Total current liabilities	7,422	12,090
Non-current Common Stock Warrant liabilities	7,638	7,441
Non-current operating lease liabilities	352
Total liabilities	15,412	19,531
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2019 and December 31, 2018 Issued and outstanding: 107.0 million shares and 106.9 million shares at March 31, 2019 and December 31, 2018, respectively	11	11
Treasury stock: 71,566 shares and 6,425 shares at March 31, 2019 and December 31, 2018, respectively, at cost	(295)	(35)
Preferred stock, $0.0001 par value Authorized: 0.9 million, after designation of the Series A and Series B Convertible Preferred Stock Issued and outstanding: none at March 31, 2019 and December 31, 2018
Additional paid-in-capital	183,834	180,862
Accumulated deficit	(109,873)	(97,617)
Total stockholders’ equity	73,677	83,221
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders’ equity	160,842	169,002
Series A Convertible Preferred stock
Current liabilities
Convertible Preferred Stock	43,775	40,091
Series B Convertible Preferred stock
Current liabilities
Convertible Preferred Stock	$ 27,978	$ 26,159

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	480,000,000	480,000,000
Common stock, shares issued	107,000,000	106,900,000
Common stock, shares outstanding	107,000,000	106,900,000
Treasury Stock, shares	71,566	6,425
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	900,000	900,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Convertible Preferred stock
Temporary equity, liquidation preference per share	$ 1,000	$ 1,000
Temporary equity, shares issued	53,281	51,720
Temporary equity, shares outstanding	53,281	51,720
Series B Convertible Preferred stock
Temporary equity, liquidation preference per share	$ 1,000	$ 1,000
Temporary equity, shares issued	30,555	29,636
Temporary equity, shares outstanding	30,555	29,636

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operations
Revenues	$ 0	$ 0
Operating Expenses
General and administrative expenses	12,019	16,001
Land option and lease expenses	428	250
Depreciation expense	41	29
Total operating expenses	12,488	16,280
Total operating loss	(12,488)	(16,280)
Other income (expense)
Loss on Common Stock Warrant liabilities	(197)
Interest income, net	466	122
Other	176	(42)
Total other income	445	80
Net loss attributable to NextDecade Corporation	(12,043)	(16,200)
Preferred stock dividends	(4,972)
Deemed dividends on Series A Convertible Preferred Stock	(551)
Net loss attributable to common stockholders	$ (17,566)	$ (16,200)
Net loss per common share - basic and diluted	$ (0.16)	$ (0.15)
Weighted average shares outstanding - basic and diluted	106,940	106,388

Consolidated Statement of Stockholders Equity, Series A and Series B Convertible Preferred Stock - USD ($) shares in Thousands, $ in Thousands	Series A Convertible Preferred stock	Series B Convertible Preferred stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total
Increase (decrease) in equity
Adoption of ASU						$ (40)	$ 40
Balance at the beginning of the period at Dec. 31, 2017			$ 11		$ 158,738	(55,617)	$ (40)	$ 103,092
Balance at the beginning of the period (in shares) at Dec. 31, 2017			106,275
Increase (decrease) in equity
Share-based compensation					12,440			12,440
Restricted stock vesting (in shares)			123
Deemed dividends - accretion of beneficial conversion feature - temporary equity	$ 0
Net loss						(16,200)		(16,200)
Balance at the end of the period at Mar. 31, 2018			$ 11		171,178	(71,857)		99,332
Balance at the end of the period (in shares) at Mar. 31, 2018			106,398
Increase (decrease) in equity
Adoption of ASU \| Accounting Standards Update 2016-02						(213)		(213)
Adoption of ASU \| Accounting Standards Update 2018-07					2,116			2,116
Balance at the beginning of the period at Dec. 31, 2018			$ 11	$ (35)	180,862	(97,617)		83,221
Balance at the beginning of the period (in shares) at Dec. 31, 2018			106,856	6
Balance at the beginning of the period at Dec. 31, 2018	40,091	$ 26,159
Increase (decrease) in equity
Share-based compensation					5,884			5,884
Restricted stock vesting					495			495
Restricted stock vesting (in shares)			180
Shares repurchased related to share-based compensation				$ (260)				(260)
Shares repurchased related to share-based compensation (in shares)			(65)	(65)
Preferred stock dividends					(4,972)			(4,972)
Preferred stock dividends	3,133	1,819
Deemed dividends - accretion of beneficial conversion feature					(551)			(551)
Deemed dividends - accretion of beneficial conversion feature - temporary equity	551
Net loss						(12,043)		(12,043)
Balance at the end of the period at Mar. 31, 2019			$ 11	$ (295)	$ 183,834	$ (109,873)		$ 73,677
Balance at the end of the period (in shares) at Mar. 31, 2019			106,971	71
Balance at the end of the period at Mar. 31, 2019	$ 43,775	$ 27,978

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net loss attributable to NextDecade Corporation	$ (12,043)	$ (16,200)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation	41	29
Share-based compensation expense	5,338	12,234
Loss on Common Stock Warrant liabilities	197
(Gain) loss on investment securities	(184)	22
Realized gain on investment securities	(11)
Changes in operating assets and liabilities:
Prepaid expenses	(471)	(183)
Accounts payable	274	(156)
Accrued expenses and other liabilities	(1,148)	(1,543)
Net cash used in operating activities	(8,007)	(5,797)
Investing activities:
Acquisition of property, plant and equipment	(5,883)	(5,177)
Proceeds from sale of investment securities	17,000
Purchase of investment securities	(439)	(24)
Net cash provided by (used in) investing activities	10,678	(5,201)
Financing activities:
Preferred stock dividends	(11)
Shares repurchased related to share-based compensation	(260)
Net cash used in financing activities	(271)
Net increase (decrease) in cash and cash equivalents	2,400	(10,998)
Cash and cash equivalents – beginning of period	3,169	35,703
Cash and cash equivalents – end of period	5,569	24,705
Non-cash investing activities:
Accounts payable for acquisition of property, plant and equipment	864	175
Accrued liabilities for acquisition of property, plant and equipment	1,091	$ 4,471
Non-cash financing activities:
Paid-in-kind dividends on Series A and Series B Convertible Preferred Stock	2,491
Dividends payable on Series A and Series B Convertible Preferred Stock charged to additional paid-in capital	2,481
Accretion of deemed dividends on Series A Convertible Preferred Stock	$ 551

Background and Basis of Presentation	3 Months Ended
Background and Basis of Presentation	Mar. 31, 2019
Background and Basis of Presentation
Background and Basis of Presentation	Note 1 — Background and Basis of Presentation NextDecade Corporation engages in development activities related to the liquefaction and sale of liquefied natural gas (“LNG”). We have focused and continue to focus our development activities on the Rio Grande LNG terminal facility at the Port of Brownsville in southern Texas (the “Terminal”) and an associated 137-mile Rio Bravo pipeline to supply gas to the Terminal (the “Pipeline” and together with the Terminal, the “Project”). In January 2017, we also secured a 36-month lease of a 994-acre site near Texas City, Texas for another potential LNG terminal (the “Galveston Bay Terminal”). Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with Rule 10‑01 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2018. In our opinion, all adjustments, consisting only of normal recurring items, which are considered necessary for a fair presentation of the unaudited consolidated financial statements, have been included. The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the operating results for the full year. During the first quarter of 2019, the Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases (“Topic 842”), which requires lessees to recognize a right-of-use asset and a lease liability for all operating leases. The Company adopted Topic 842 using a prospective transition approach, which applies the provisions of Topic 842 at the effective date without adjusting the comparative periods presented, with certain practical expedients available to ease the burden of adoption. See Note 5 – Leases for additional information.

Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2019

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets

Note 2 — Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Rio Grande LNG site option	$	365	$	508
Short-term security deposits		27		18
Rio Bravo Pipeline options		40		54
Prepaid insurance		191		233
Prepaid marketing and sponsorships		782		242
Other		376		255
Total prepaid expenses and other current assets	$	1,781	$	1,310

Investment Securities

3 Months Ended

Mar. 31, 2019

Investment Securities

Investment Securities

Note 3 — Investment Securities

We invest in Class L shares of the JPMorgan Managed Income Fund. The JPMorgan Managed Income Fund has an average maturity of approximately one year, duration of approximately six months, and approximately 7% of such fund’s holdings are AAA-rated with 0% non-investment grade rated.

Investment securities consisted of the following (in thousands):


	March 31,				December 31,
	2019				2018
	Fair value		Cost		Fair value		Cost
JPMorgan Managed Income Fund	$	56,088	$	55,976	$	72,453	$	72,567

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment

Property, Plant and Equipment

Note 4 — Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Fixed Assets
Computers	$	225	$	164
Furniture, fixtures, and equipment		343		316
Leasehold improvements		420		420
Total fixed assets		988		900
Less: accumulated depreciation		(583)		(542)
Total fixed assets, net		405		358
Project Assets (not placed in service)
Rio Grande		84,001		80,407
Rio Bravo		11,620		11,305
Total project assets		95,621		91,712
Total property, plant and equipment, net	$	96,026	$	92,070

Depreciation expense for each of the three months ended March 31, 2019 and 2018 was $41 thousand and $29 thousand, respectively.

Leases

3 Months Ended

Mar. 31, 2019

Leases

Leases

Note 5 — Leases

We currently lease approximately 25,600 square feet of office space for general and administrative purposes in Houston, Texas under a lease agreement that expires on September 30, 2020.

In January 2017, NextDecade LLC executed surface lease agreements with the City of Texas City and the State of Texas for a 994‑acre site for the Galveston Bay Terminal (collectively, the “Galveston Bay Leases”). The term of the Galveston Bay Leases is 36 months with an option to extend for an additional 12 months.

On March 6, 2019, Rio Grande entered into a lease agreement with the Brownsville Navigation District of Cameron County, Texas (“BND”), pursuant to which Rio Grande has agreed to lease approximately 984 acres of land situated in Cameron County, Texas for the purposes of constructing, operating and maintaining the Terminal.

The initial term of the lease is for 30 years (the “Primary Term”), which will commence on the date specified in a written notice by Rio Grande to BND (the “Effective Date Notice”), if given, confirming that Rio Grande or a Rio Grande affiliate has made a FID for the first phase of the Terminal. The Effective Date may be no later than November 6, 2019 (the “Outside Effective Date”), provided, however , that in the event Rio Grande does not deliver the Effective Date Notice prior to the Outside Effective Date due to reasons unrelated to an act or omission of its own or its inability to secure one or more of the required permits for the Terminal, then the Outside Effective Date will be automatically extended on a month-to-month basis for a maximum of six months. Rio Grande has the option to renew and extend the term of the lease beyond the Primary Term for up to two consecutive renewal periods of ten years each provided that it has not caused an event of default under the lease.

In adopting Topic 842, the Company has elected the “package of practical expedients,” which permits it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the use-of-hindsight and the practical expedient pertaining to land easements. The Company elected not to apply Topic 842 to arrangements with original lease terms of 12 months or less. At lease commencement date, the Company estimated the lease liability and the right-of-use assets at present value, at inception, of $2.3 million. On January 1, 2019, upon adoption of Topic 842, the Company recorded right-of-use assets of $1.6 million, lease liabilities of $1.9 million, eliminated deferred rent of $0.1 million and recorded a cumulative-effect adjustment of $0.2 million.

The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases with lease terms greater than twelve months are included in Operating lease right-of-use assets and Operating lease liabilities in the Consolidated Balance Sheets.

Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. The Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The right-of-use assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company has lease arrangements that include both lease and non-lease components. The Company accounts for non-lease components separately from the lease component.

Operating lease right-of-use assets as of March 31, 2019 are as follows (in thousands):


Office leases	$	606
Land leases		772
Total operating lease right-of-use assets, net	$	1,378

Operating lease liabilities as of March 31, 2019 are as follows (in thousands):


Office leases	$	510
Land leases		810
Total current lease liabilities		1,320
Non-current office leases		327
Non-current land leases		25
Total lease liabilities	$	1,672

Operating lease expense as of March 31, 2019 is as follows (in thousands):


Office leases	$	116
Land leases		120
Total operating lease expense (1)		236
Short-term lease expense		32
Land option expense		160
Total land option and lease expense	$	428

⁽¹⁾

Includes amortization of right-of-use assets of $184 thousand.

Maturity of operating lease liabilities as of March 31, 2019 are as follows (in thousands, except lease term and discount rate):


2019 (remaining)	$	950
2020		1,140
2021		3
2022		—
2023		—
Thereafter		—
Total undiscounted lease payments		2,093
Discount to present value		(421)
Present value of lease liabilities	$	1,672

Weighted average remaining lease term - years		1.6
Weighted average discount rate - percent		12.0

Other information related to our operating leases for the three months ended March 31, 2019 is as follows (in thousands):


Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities	$	258
Noncash right-of-use assets recorded for operating lease liabilities:
Adoption of Topic 842		1,562
In exchange for new operating lease liabilities during the period		—

Accrued Liabilities and Other Current Liabilities

3 Months Ended

Mar. 31, 2019

Accrued Liabilities and Other Current Liabilities

Accrued Liabilities and Other Current Liabilities

Note 6 — Accrued Liabilities and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Employee compensation expense	$	2,252	$	3,130
Project asset costs		1,091		2,014
Valve installation incentive(1)		—		2,000
Accrued legal services		306		313
Other accrued liabilities		538		896
Total accrued liabilities and other current liabilities	$	4,187	$	8,353

⁽¹⁾

In April 2018, we entered into an agreement with an intrastate pipeline company with assets near the Terminal which incentivizes such pipeline company to procure, permit and install a valve on an intrastate pipeline near the Terminal. We agreed that, upon the later of (i) March 31, 2019 and (ii) thirty days after the date on which the valve was installed, we will reimburse such pipeline company a cash amount equal to 50% of the costs incurred in connection with the valve, up to a maximum payment by us not to exceed $2.0 million. Such valve was installed in 2018 and we reimbursed such pipeline company $2.0 million in the first quarter of 2019.

Preferred Stock and Common Stock Warrants

3 Months Ended

Mar. 31, 2019

Preferred Stock and Common Stock Warrants

Preferred Stock and Common Stock Warrants

Note 7 – Preferred Stock and Common Stock Warrants

Preferred Stock

In August 2018, we sold an aggregate of 50,000 shares of Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock), at $1,000 per share for an aggregate purchase price of $50 million and we issued an additional 1,000 shares of Series A Preferred Stock in aggregate as origination fees to the purchasers of the Series A Preferred Stock. In September 2018, we sold an aggregate of 29,055 shares of Series B Convertible Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock” and, together with the Series A Preferred Stock, the “Convertible Preferred Stock”), at $1,000 per share for an aggregate purchase price of $29.055 million and we issued an additional 581 shares of Series B Preferred Stock in aggregate as origination fees to the purchasers of the Series B Preferred Stock. Warrants were issued together with the shares of Series A Preferred Stock and the Series B Preferred Stock (collectively, “Common Stock Warrants”).

The shares of Convertible Preferred Stock bear dividends at a rate of 12% per annum, which are cumulative and accrue daily from the date of issuance on the $1,000 stated value. Such dividends are payable quarterly and may be paid in cash or in-kind. During the three months ended March 31, 2019, the Company paid-in-kind $1.6 million and $0.9 million of dividends to the holders of the Series A Preferred Stock and the Series B Preferred Stock, respectively. On March 22, 2019, the Company declared dividends to the holders of the Convertible Preferred Stock as of the close of business on March 15, 2019. On April 15, 2019, the Company paid-in-kind $1.6 million and $0.9 million of dividends to the holders of the Series A Preferred Stock and the Series B Preferred Stock, respectively.

Common Stock Warrants

Pursuant to ASC 815-40, Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company’s Own Stock, the fair value of the Common Stock Warrants was recorded as a non-current liability on our Consolidated Balance Sheet on the issuance dates. The Company revalued the Common Stock Warrants as of March 31, 2019 and recognized a loss of $0.2 million. The Common Stock Warrants are included in Level 3 of the fair value hierarchy.

The Company used the Monte Carlo simulation model to estimate the fair value of the Common Stock Warrants using the following assumptions:



	March 31,			December 31,
	2019			2018
Stock price	$	5.52		$	5.40
Exercise price	$	0.01		$	0.01
Risk-free rate		2.3	%		2.5	%
Volatility		29.2	%		33.1	%
Term (years)		2.5			2.7

Beneficial Conversion Feature

ASC 470-20-20 – Debt – Debt with conversion and Other Options (“ASC 470-20”) defines a beneficial conversion feature (“BCF”) as a nondetachable conversion feature that is in the money at the issuance date. The Company was required by ASC 470-20 to allocate a portion of the proceeds from the Series A Preferred Stock equal to the intrinsic value of the BCF to additional paid-in capital. We are recording the accretion of the $2.5 million Series A Preferred Stock discount attributable to the BCF as a deemed dividend using the effective yield method over the period prior to the expected conversion date. Deemed dividends on the Series A Preferred Stock for each of the three months ended March 31, 2019 and March 31, 2018 was $0.5 million and zero, respectively.

Net Loss Per Share

3 Months Ended

Mar. 31, 2019

Net Loss Per Share

Net Loss Per Share

Note 8 — Net Loss Per Share

The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for each of the three months ended March 31, 2019 and 2018:


	Three months ended
	March 31,
	2019		2018
Weighted average common shares outstanding:
Basic		106,940		106,388
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants		—		—
Diluted		106,940		106,388

Basic and diluted net loss per share attributable to common stockholders	$	(0.16)	$	(0.15)

Potentially dilutive securities not included in the diluted net loss per share computations because their effect would have been anti-dilutive were as follows (in thousands):


	Three months ended
	March 31,
	2019		2018
Unvested stock (1)		490		464
Convertible preferred stock		11,127		—
Common Stock Warrants		1,376		—
IPO Warrants(2)		12,082		12,082
Total potentially dilutive common shares		25,075		12,546

⁽¹⁾

Does not include 10.8 million shares and 26.4 million shares for the three months ended March 31, 2019 and 2018, respectively, of unvested stock because the performance conditions had not yet been satisfied.

⁽²⁾

The IPO Warrants were issued in connection with our initial public offering in 2015. The IPO Warrants are exercisable at a price of $11.50 per share and expire on July 24, 2022. The Company may redeem the IPO Warrants at a price of $0.01 per IPO Warrant upon 30 days’ notice only if the last sale price of our common stock is at least $17.50 per share for any 20 trading days within a 30-trading day period. If the Company redeems the IPO Warrants in this manner, the Company will have the option to do so on a cashless basis with the issuance of an economically equivalent number of shares of Company common stock.

Share-based Compensation

3 Months Ended

Mar. 31, 2019

Share-based Compensation.

Share-based Compensation

Note 9 — Share-based Compensation

We have granted shares of Company common stock and restricted Company common stock to employees, consultants and a non-employee director under our 2017 Omnibus Incentive Plan (the “2017 Plan”) and in connection with our special meeting of stockholders held on July 24, 2017.

Total share-based compensation consisted of the following (in thousands):


	Three months ended
	March 31,
	2019		2018
Share-based compensation:
Equity awards	$	5,884	$	12,440
Liability awards		—		(47)
Total share-based compensation		5,884		12,393
Capitalized share-based compensation		(546)		(159)
Total share-based compensation expense	$	5,338	$	12,234

On January 1, 2019, we adopted Accounting Standards Update (“ASU”) 2018-07, Compensation-Stock Compensation (“ASU 2018-07”). This standard simplifies aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. Upon adoption of this standard, we reclassified $2.1 million from Share-based compensation liability to Additional paid-in-capital in our Consolidated Balance Sheets.

Certain employee contracts provided for cash bonuses upon a positive final investment decision (“FID”) in the Project (the “FID Bonus”). In January 2018, the nominating, corporate governance and compensation committee of the board of directors approved, and certain employees party to such contracts accepted, an amendment to such contracts whereby the FID Bonuses would be settled in shares of Company common stock equal to 110% of the FID Bonus. The associated liability for FID Bonuses to be settled in shares of Company common stock of $0.4 million is included in Share-based compensation liability in our Consolidated Balance Sheets at March 31, 2019 and December 31, 2018.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Taxes
Income Taxes	Note 10 — Income Taxes Due to our cumulative loss position, we have established a full valuation allowance against our deferred tax assets at March 31, 2019 and December 31, 2018. Due to our full valuation allowance, we have not recorded a provision for federal or state income taxes during each of the three months ended March 31, 2019 and 2018.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	Note 11 — Commitments and Contingencies Legal Proceedings From time to time the Company may be subject to various claims and legal actions that arise in the ordinary course of business. As of March 31, 2019, management is not aware of any claims or legal actions that, separately or in the aggregate, are likely to have a material adverse effect on the Company’s financial position, results of operations or cash flows, although the Company cannot guarantee that a material adverse event may not occur. Enterprise Resource Planning system During the first quarter of 2019, we entered into an agreement with a third-party to design and implement the first phase of a new enterprise resource planning (“ERP”) system. In connection with this agreement, we are committed to spend approximately $0.9 million, all of which is expected to be incurred in 2019.

Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2019

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Note 12 — Recent Accounting Pronouncements

The following table provides a brief description of recent accounting standards that have not been adopted by the Company as of March 31, 2019:


Standard	Description	Expected Date of Adoption	Effect on our Consolidated Financial Statements or Other Significant Matters
ASU 2018-15, Intangibles, Goodwill and Other Internal Use Software (Subtopic 350-40)	The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. Accordingly, the amendments in this update require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. These amendments may be early adopted and are required to be applied retrospectively or prospectively to all implementation costs incurred after the date of adoption.	January 1, 2020	We are currently evaluating the effect of this standard on our Consolidated Financial Statements.

Additionally, the following table provides a brief description of recent accounting standards that were adopted by the Company during the reporting period:


Standard	Description	Date of Adoption	Effect on our Consolidated Financial Statements or Other Significant Matters
ASU 2016‑02, Leases (Topic 842)	This standard requires a lessee to recognize leases on its balance sheet by recording a lease liability representing the obligation to make future lease payments and a right-of-use asset representing the right to use the underlying asset for the lease term. A lessee is permitted to make an election not to recognize lease assets and liabilities for leases with a term of 12 months or less. The standard also modifies the definition of a lease and requires expanded disclosures. This standard may be early adopted, and must be adopted using a modified retrospective approach with certain available practical expedients.	January 1, 2019	We have adopted this accounting standard using a prospective transition approach, which applies the provisions of the new guidance at the effective date without adjusting the comparative periods presented. Upon adoption of this standard, we recognized operating lease right-of use assets of $1.6 million and operating lease liabilities of $1.9 million. See Note 5 - Leases of our Notes to Consolidated Financial Statements for additional details.
ASU 2018-07, Compensation-Stock Compensation (Topic 718)	This standard simplifies aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor's own operations by issuing share-based payment awards. This standard may be early adopted, and must be adopted using a modified retrospective approach.	January 1, 2019	Upon adoption of this standard, we reclassified $2.1 million from Share-based compensation liability to Additional paid-in-capital in our Consolidated Balance Sheets. The fair value of share based compensation awards to non-employees will not be remeasured subsequent to December 31, 2018.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2019
Subsequent Events
Subsequent Events	Note 13 — Subsequent Events During the third quarter of 2018, the Company initiated a competitive engineering, procurement and construction (“EPC”) bid process. In connection with the EPC bid process, we entered into agreements with potential EPC contractors that provide for payments to be made by us to the EPC contractors as EPC bid milestones are achieved (“Invitation to Bid Contract Costs”). On April 22, 2019 the Company received EPC bid packages from each of Bechtel Oil, Gas, and Chemicals, Inc. and Fluor Corporation and incurred approximately $4.0 million of Invitation to Bid Contract Costs.

Prepaid Expenses and Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2019

Prepaid Expenses and Other Current Assets

Schedule of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Rio Grande LNG site option	$	365	$	508
Short-term security deposits		27		18
Rio Bravo Pipeline options		40		54
Prepaid insurance		191		233
Prepaid marketing and sponsorships		782		242
Other		376		255
Total prepaid expenses and other current assets	$	1,781	$	1,310

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investment Securities

Schedule of investment securities

Investment securities consisted of the following (in thousands):


	March 31,				December 31,
	2019				2018
	Fair value		Cost		Fair value		Cost
JPMorgan Managed Income Fund	$	56,088	$	55,976	$	72,453	$	72,567

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment

Schedule of property, plant and equipment

Property, plant and equipment consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Fixed Assets
Computers	$	225	$	164
Furniture, fixtures, and equipment		343		316
Leasehold improvements		420		420
Total fixed assets		988		900
Less: accumulated depreciation		(583)		(542)
Total fixed assets, net		405		358
Project Assets (not placed in service)
Rio Grande		84,001		80,407
Rio Bravo		11,620		11,305
Total project assets		95,621		91,712
Total property, plant and equipment, net	$	96,026	$	92,070

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases

Schedule of operating lease asset

Operating lease right-of-use assets as of March 31, 2019 are as follows (in thousands):


Office leases	$	606
Land leases		772
Total operating lease right-of-use assets, net	$	1,378

Schedule of operating lease liabilities

Operating lease liabilities as of March 31, 2019 are as follows (in thousands):


Office leases	$	510
Land leases		810
Total current lease liabilities		1,320
Non-current office leases		327
Non-current land leases		25
Total lease liabilities	$	1,672

Summary of operating lease expense

Operating lease expense as of March 31, 2019 is as follows (in thousands):


Office leases	$	116
Land leases		120
Total operating lease expense (1)		236
Short-term lease expense		32
Land option expense		160
Total land option and lease expense	$	428

⁽¹⁾

Includes amortization of right-of-use assets of $184 thousand.

Summary of maturity of operating lease liabilities

Maturity of operating lease liabilities as of March 31, 2019 are as follows (in thousands, except lease term and discount rate):


2019 (remaining)	$	950
2020		1,140
2021		3
2022		—
2023		—
Thereafter		—
Total undiscounted lease payments		2,093
Discount to present value		(421)
Present value of lease liabilities	$	1,672

Weighted average remaining lease term - years		1.6
Weighted average discount rate - percent		12.0

Schedule of other information related to our operating leases

Other information related to our operating leases for the three months ended March 31, 2019 is as follows (in thousands):


Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities	$	258
Noncash right-of-use assets recorded for operating lease liabilities:
Adoption of Topic 842		1,562
In exchange for new operating lease liabilities during the period		—

Accrued Liabilities and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Accrued Liabilities and Other Current Liabilities

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	March 31,		December 31,
	2019		2018
Employee compensation expense	$	2,252	$	3,130
Project asset costs		1,091		2,014
Valve installation incentive(1)		—		2,000
Accrued legal services		306		313
Other accrued liabilities		538		896
Total accrued liabilities and other current liabilities	$	4,187	$	8,353

⁽¹⁾

Preferred Stock and Common Stock Warrants (Tables)

3 Months Ended

Mar. 31, 2019

Preferred Stock and Common Stock Warrants

Summary of assumptions used to estimate fair value



	March 31,			December 31,
	2019			2018
Stock price	$	5.52		$	5.40
Exercise price	$	0.01		$	0.01
Risk-free rate		2.3	%		2.5	%
Volatility		29.2	%		33.1	%
Term (years)		2.5			2.7

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Net Loss Per Share

Schedule of basic and diluted weighted average common shares outstanding

The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for each of the three months ended March 31, 2019 and 2018:


	Three months ended
	March 31,
	2019		2018
Weighted average common shares outstanding:
Basic		106,940		106,388
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants		—		—
Diluted		106,940		106,388

Basic and diluted net loss per share attributable to common stockholders	$	(0.16)	$	(0.15)

Schedule of antidilutive securities excluded from computation of earnings per share

Potentially dilutive securities not included in the diluted net loss per share computations because their effect would have been anti-dilutive were as follows (in thousands):


	Three months ended
	March 31,
	2019		2018
Unvested stock (1)		490		464
Convertible preferred stock		11,127		—
Common Stock Warrants		1,376		—
IPO Warrants(2)		12,082		12,082
Total potentially dilutive common shares		25,075		12,546

⁽¹⁾

⁽²⁾

Share-based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Compensation.

Schedule of share-based compensation

Total share-based compensation consisted of the following (in thousands):


	Three months ended
	March 31,
	2019		2018
Share-based compensation:
Equity awards	$	5,884	$	12,440
Liability awards		—		(47)
Total share-based compensation		5,884		12,393
Capitalized share-based compensation		(546)		(159)
Total share-based compensation expense	$	5,338	$	12,234

Recent Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2019

Recent Accounting Pronouncements

Schedule of recent accounting standards that have not been adopted


Standard	Description	Expected Date of Adoption	Effect on our Consolidated Financial Statements or Other Significant Matters
ASU 2018-15, Intangibles, Goodwill and Other Internal Use Software (Subtopic 350-40)	The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. Accordingly, the amendments in this update require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. These amendments may be early adopted and are required to be applied retrospectively or prospectively to all implementation costs incurred after the date of adoption.	January 1, 2020	We are currently evaluating the effect of this standard on our Consolidated Financial Statements.

Schedule of recent accounting standards that were adopted


Standard	Description	Date of Adoption	Effect on our Consolidated Financial Statements or Other Significant Matters
ASU 2016‑02, Leases (Topic 842)	This standard requires a lessee to recognize leases on its balance sheet by recording a lease liability representing the obligation to make future lease payments and a right-of-use asset representing the right to use the underlying asset for the lease term. A lessee is permitted to make an election not to recognize lease assets and liabilities for leases with a term of 12 months or less. The standard also modifies the definition of a lease and requires expanded disclosures. This standard may be early adopted, and must be adopted using a modified retrospective approach with certain available practical expedients.	January 1, 2019	We have adopted this accounting standard using a prospective transition approach, which applies the provisions of the new guidance at the effective date without adjusting the comparative periods presented. Upon adoption of this standard, we recognized operating lease right-of use assets of $1.6 million and operating lease liabilities of $1.9 million. See Note 5 - Leases of our Notes to Consolidated Financial Statements for additional details.
ASU 2018-07, Compensation-Stock Compensation (Topic 718)	This standard simplifies aspects of share-based compensation issued to non-employees by making the guidance consistent with accounting for employee share-based compensation. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor's own operations by issuing share-based payment awards. This standard may be early adopted, and must be adopted using a modified retrospective approach.	January 1, 2019	Upon adoption of this standard, we reclassified $2.1 million from Share-based compensation liability to Additional paid-in-capital in our Consolidated Balance Sheets. The fair value of share based compensation awards to non-employees will not be remeasured subsequent to December 31, 2018.

Background and Basis of Presentation (Details)	1 Months Ended	3 Months Ended
Background and Basis of Presentation (Details)	Jan. 31, 2017 a	Mar. 31, 2019 mi
Leases
Length of pipeline to supply gas \| mi		137
City Of Texas City and State Of Texas (Galveston Bay) \| Surface leases
Leases
Term of lease agreement	36 months
Area of land leased \| a	994

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets
Rio Grande LNG site option	$ 365	$ 508
Short-term security deposits	27	18
Rio Bravo Pipeline options	40	54
Prepaid insurance	191	233
Prepaid marketing and sponsorships	782	242
Other	376	255
Total prepaid expenses and other current assets	$ 1,781	$ 1,310

Investment Securities (Details) - JPMorgan Managed Income Fund - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Investment securities
Maturity period of mutual funds	1 year
Duration of mutual fund	6 months
Non-investment grade rated holdings (as a percent)	0.00%
Fair Value	$ 56,088	$ 72,453
Cost	$ 55,976	$ 72,567
AAA rated
Investment securities
Investment holdings grade rated (as a percent)	7.00%

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment
Total property, plant and equipment, net	$ 96,026		$ 92,070
Depreciation expense	41	$ 29
Non project assets
Property, Plant and Equipment
Property, plant and equipment, gross	988		900
Less: accumulated depreciation	(583)		(542)
Total property, plant and equipment, net	405		358
Computers
Property, Plant and Equipment
Property, plant and equipment, gross	225		164
Furniture, fixtures, and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	343		316
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	420		420
Project assets
Property, Plant and Equipment
Project assets in progress	95,621		91,712
Rio Grande
Property, Plant and Equipment
Project assets in progress	84,001		80,407
Rio Bravo
Property, Plant and Equipment
Project assets in progress	$ 11,620		$ 11,305

Leases - Narrative (Details) $ in Thousands		1 Months Ended
Leases - Narrative (Details) $ in Thousands	Mar. 06, 2019 a item	Jan. 31, 2017 USD ($) a	Mar. 31, 2019 USD ($) ft²	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Leases
Operating lease right-of-use assets, net			$ 1,378
Operating lease liability			$ 1,672
Accounting Standards Update 2016-02
Leases
Operating lease right-of-use assets, net		$ 2,300
Operating lease liability		$ 2,300
Cumulative effect adjustment from adoption of ASU 2016-01					$ 213
Accounting Standards Update 2016-02 \| Adjustments
Leases
Operating lease right-of-use assets, net				$ 1,600
Operating lease liability				1,900
Deferred rent				(100)
Cumulative effect adjustment from adoption of ASU 2016-01				$ 200
Office space lease
Leases
Area of property leased \| ft²			25,600
Operating lease right-of-use assets, net			$ 606
Land leases
Leases
Operating lease right-of-use assets, net			$ 772
City Of Texas City and State Of Texas (Galveston Bay) \| Surface leases
Leases
Area of land leased/to be leased \| a		994
Term of lease agreement		36 months
Existence of option to extend		true
Option to extend term		12 months
BND \| Land leases
Leases
Area of land leased/to be leased \| a	984
Term of lease agreement	30 years
Maximum period for automatic extension for Outside Effective Date	6 months
Number of renewal term \| item	2
Option to extend term	10 years
Option to extend term, lease not yet commenced	true

Leases - Operating lease (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Operating lease (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Leases
Operating lease right-of-use assets, net	$ 1,378
Total current lease liabilities	1,320
Non-current lease liabilities	352
Operating lease liability	1,672
Operating lease expense
Total operating lease expense	236
Short-term lease expense	32
Land option expense	160
Total land option and lease expense	428	$ 250
Amortization of right-of-use assets	184
Office space lease
Leases
Operating lease right-of-use assets, net	606
Total current lease liabilities	510
Non-current lease liabilities	327
Operating lease expense
Total operating lease expense	116
Land leases
Leases
Operating lease right-of-use assets, net	772
Total current lease liabilities	810
Non-current lease liabilities	25
Operating lease expense
Total operating lease expense	$ 120

Leases - Maturity of operating lease liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Lease Liabilities, Payments Due [Abstract]
2019 (remaining)	$ 950
2020	1,140
2021	3
Total undiscounted lease payments	2,093
Discount to present value	(421)
Present Value of lease liabilities	$ 1,672
Weighted average remaining lease term	1 year 7 months 6 days
Weighted average discount rate	12.00%

Leases - Other information related to operating leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases	$ 258
Noncash right-of-use assets recorded for operating lease liabilities:
Adoption of Topic 842	1,562
In exchange for new operating lease liabilities during the period	$ 0

Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accrued Liabilities and Other Current Liabilities
Employee compensation expense	$ 2,252	$ 3,130
Project asset costs	1,091	2,014
Valve installation incentive		2,000
Accrued legal services	306	313
Other accrued liabilities	538	896
Total accrued liabilities and other current liabilities	$ 4,187	$ 8,353

Accrued Liabilities and Other Current Liabilities - Valve installation (Details) - Intrastate Pipeline Company - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2018	Mar. 31, 2019
Other Commitments [Line Items]
Period after valve installation for reimbursement of costs	30 days
Percentage of valve costs for reimbursement	50.00%
Maximum reimbursement payment per agreement	$ 2.0
Valve reimbursement payment made during period		$ 2.0

Preferred Stock and Common Stock Warrants - Preferred Stock (Details) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended
	Apr. 15, 2019 USD ($)	Sep. 30, 2018 USD ($) $ / shares shares	Aug. 31, 2018 USD ($) $ / shares shares	Mar. 31, 2019 USD ($) $ / shares
Convertible Preferred Stock
Stockholders’ Equity
Temporary equity, issued value per share				1,000
Dividends, temporary equity percentage				12.00%
Series A Convertible Preferred stock
Stockholders’ Equity
Number of shares issued \| shares			50,000
Convertible preferred stock, par value			$ 0.0001
Temporary equity, issued value per share			1,000
Aggregate purchase price \| $			$ 50,000
Additional shares issued as origination fees \| shares			1,000
Paid-in-kind dividends \| $	$ 1,600			$ 1,600
Series B Convertible Preferred stock
Stockholders’ Equity
Number of shares issued \| shares		29,055
Convertible preferred stock, par value		$ 0.0001
Temporary equity, issued value per share		1,000
Aggregate purchase price \| $		$ 29,055
Additional shares issued as origination fees \| shares		581
Paid-in-kind dividends \| $	$ 900			$ 900

Preferred Stock and Common Stock Warrants - Warrants (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Preferred Stock and Common Stock Warrants
Loss recognized on revalued warrants	$ 197

Preferred Stock and Common Stock Warrants - Assumptions (Details) - Common Stock Warrants - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Class of Warrant or Right [Line Items]
Stock price	$ 5.52	$ 5.40
Exercise price	$ 0.01	$ 0.01
Risk-free rate	2.30%	2.50%
Volatility	29.20%	33.10%
Term (years)	2 years 6 months	2 years 8 months 12 days

Preferred Stock and Common Stock Warrants - Beneficial Conversion Feature (Details) - Series A Convertible Preferred stock - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Preferred Stock and Common Stock Warrants
Deemed dividends - accretion of beneficial conversion feature - temporary equity	$ 551	$ 0
BCF
Preferred Stock and Common Stock Warrants
Accretion of stock discount as a deemed dividend	$ 2,500

Net Loss Per Share - Basic and Diluted (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Weighted average common shares outstanding:
Basic	106,940	106,388
Diluted	106,940	106,388
Basic and diluted net loss per common share (in dollar per share)	$ (0.16)	$ (0.15)

Net Loss Per Share - Anti-Dilutive Securities (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive stock options not considered in computing diluted earnings per common share	25,075	12,546
Unvested Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive stock options not considered in computing diluted earnings per common share	490	464
Shares excluded as performance conditions not yet satisfied	10,800	26,400
Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive stock options not considered in computing diluted earnings per common share	11,127
Common Stock Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive stock options not considered in computing diluted earnings per common share	1,376
IPO Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive stock options not considered in computing diluted earnings per common share	12,082	12,082
Exercise price (per share)	$ 11.50
Redemption price (per share)	$ 0.01
Number of days of prior notice require to redeem	30 days
Sale price of stock (per share)	$ 17.50
Number of trading days considered for share price	20 days
Total number of trading days considered	30 days

Share-based Compensation - Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018
Summary of changes in restricted stock outstanding
Equity awards - share-based compensation	$ 5,884	$ 12,440
Liability awards – share-based compensation		(47)
Total share-based compensation expense	5,884	12,393
Capitalized share-based compensation	(546)	(159)
Total share-based compensation expense	5,338	$ 12,234
Share-based compensation liability	402			$ 3,018
Additional paid-in-capital	183,834			$ 180,862
Accounting Standards Update 2018-07 \| Adjustments
Summary of changes in restricted stock outstanding
Share-based compensation liability			$ (2,100)
Additional paid-in-capital			$ 2,100
FID Bonus
Summary of changes in restricted stock outstanding
Share-based compensation liability	$ 400
Percentage of FID bonus to be settled in shares of common stock	110.00%

Income Taxes - Effective Income Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes
Income tax provision	$ 0	$ 0

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2019 USD ($)
Enterprise Resource Planning
Commitments and Contingencies
Future commitments to be incurred	$ 0.9

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 31, 2017
Recent Accounting Pronouncements
Operating lease right-of-use assets, net	$ 1,378
Operating lease liability	1,672
Share-based compensation liability	402		$ 3,018
Additional Paid in Capital	$ 183,834		$ 180,862
Accounting Standards Update 2016-02
Recent Accounting Pronouncements
Operating lease right-of-use assets, net				$ 2,300
Operating lease liability				$ 2,300
Accounting Standards Update 2016-02 \| Adjustments
Recent Accounting Pronouncements
Operating lease right-of-use assets, net		$ 1,600
Operating lease liability		1,900
Accounting Standards Update 2018-07 \| Adjustments
Recent Accounting Pronouncements
Share-based compensation liability		(2,100)
Additional Paid in Capital		$ 2,100

Subsequent Events (Details) $ in Millions	Apr. 22, 2019 USD ($)
Subsequent Events \| EPC bid process \| Bechtel Oil, Gas, and Chemicals, Inc. and Fluor Corporation
Subsequent Events
Invitation to Bid Contract Costs	$ 4.0