Enbridge and Enterprise Products Partners announced the formation of a JV to develop Enterprise's proposed Sea Port Oil Terminal (SPOT) along with the newly announced 15 Mmbbl Jones Creek Oil Storage Terminal. They are working to finalize equity participation for Enbridge on the SPOT Project.
However, Enbridge's Texas COLT Deep-Water Port seems to now be on hold with the firm citing that "The parties intend to initially focus commercial development efforts on seeking customer support to fully utilize SPOT. As the crude oil export market continues to grow, Enbridge anticipates that its Texas COLT deep-water port will be well positioned to proceed."
Antero Midstream and Antero Resources have renegotiated their gathering and processing agreements in such a way as to save Antero Resources an aggregate $350 million from 2020-2023. Thus, Antero now forecasts gathering, processing and transport costs to average $0.10/Mcfe in 2020.
The growth incentive fee program aligns with Antero Resources' current 8% - 10% compound annual net production growth plan from 2020 and 2021.