Marathon Oil Reports 4Q19 Net US Production of 328 Mboe/d; Dropping 3% Q/Q 2/14/2020

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 Acquiring Rio Bravo Pipeline Company for $25MM to Feed Rio Grande LNG Project 2/14/2020

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.