Devon has entered into a deal with Dow to jointly develop a portion of its STACK acreage, under which Devon will monetize half of its working interest in 133 undrilled wells for a $100 million drilling carry for four years. That average working interest is approx. 60% across the position.
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."