Marathon Oil reported fourth quarter 2019 net production of 328 Mboe/d, dropping 3% quarter-on-quarter. The firms US crude volumes fell 2% to 196 Mboe/d, natural gas declined 4% to 444 Mmcf/d and NGL's dropped 5% to 58 Mbbl/d.
Enbridge has reached a definitive agreement with NextDecade to acquire the Rio Bravo Pipeline Company for $25 million, with $15 million of that to be paid upon FID of the Rio Grande LNG Terminal.
Enbridge intends to take on full responsibility for developing the 4.5 Bcf/d trunkline for NextDecades LNG project in Brownsville, and both firms have entered into a 20-year firm transport agreement for feed gas supplies. Closing is expected in the first quarter of 2020.