MPLX LP to Divest Rockies Gathering and Processing Assets
MPLX LP (NYSE: MPLX) has announced a significant asset divestiture, agreeing to sell its Rockies gathering and processing assets to Harvest Midstream for $1.0 billion in cash. The assets include natural gas gathering and transportation pipelines with 1.2 billion cubic feet per day of processing capacity, which operated at 52% capacity in 2024.
As part of the deal, Harvest has committed to dedicate 12,000 barrels per day of NGLs from these assets to MPLX for seven years starting in 2028. The transaction, expected to close in Q4 2025, aligns with MPLX's strategic focus on growth in the Marcellus and Permian basins.
MPLX LP (NYSE: MPLX) ha annunciato la cessione di rilevanti attivit脿: vender脿 le sue infrastrutture di raccolta e processamento nelle Rockies a Harvest Midstream per 1,0 miliardi di dollari in contanti. Le attivit脿 comprendono condotte per la raccolta e il trasporto di gas naturale con una capacit脿 di lavorazione di 1,2 miliardi di piedi cubi al giorno, che nel 2024 hanno funzionato al 52% della capacit脿.
Come parte dell'accordo, Harvest si impegna a destinare a MPLX 12.000 barili al giorno di NGL provenienti da queste attivit脿 per sette anni a partire dal 2028. La transazione, il cui closing 猫 previsto nel quarto trimestre del 2025, 猫 coerente con la strategia di MPLX focalizzata sulla crescita nei bacini Marcellus e Permian.
MPLX LP (NYSE: MPLX) ha anunciado una importante desinversi贸n: vender谩 sus activos de recolecci贸n y procesamiento en las Rocosas a Harvest Midstream por 1.000 millones de d贸lares en efectivo. Los activos incluyen gasoductos de recolecci贸n y transporte de gas natural con una capacidad de procesamiento de 1.200 millones de pies c煤bicos por d铆a, que operaron al 52% de su capacidad en 2024.
Como parte del acuerdo, Harvest se compromete a dedicar a MPLX 12.000 barriles por d铆a de NGL procedentes de estos activos durante siete a帽os a partir de 2028. La transacci贸n, que se espera cierre en el cuarto trimestre de 2025, est谩 alineada con el enfoque estrat茅gico de MPLX en el crecimiento en las cuencas Marcellus y Permian.
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MPLX LP (NYSE: MPLX) a annonc茅 une cession importante d'actifs : la vente de ses infrastructures de collecte et de traitement dans les Rockies 脿 Harvest Midstream pour 1,0 milliard de dollars en esp猫ces. Les actifs comprennent des pipelines de collecte et de transport de gaz naturel avec une capacit茅 de traitement de 1,2 milliard de pieds cubes par jour, qui ont fonctionn茅 脿 52 % de leur capacit茅 en 2024.
Dans le cadre de l'accord, Harvest s'engage 脿 fournir 脿 MPLX 12 000 barils par jour de NGL provenant de ces actifs pendant sept ans 脿 partir de 2028. La transaction, dont la cl么ture est pr茅vue au quatri猫me trimestre 2025, s'aligne sur l'orientation strat茅gique de MPLX en faveur de la croissance dans les bassins Marcellus et Permian.
MPLX LP (NYSE: MPLX) hat eine bedeutende Ver盲u脽erung angek眉ndigt: Der Verkauf seiner Rockies-Gathering- und Verarbeitungsanlagen an Harvest Midstream wurde f眉r 1,0 Milliarden US-Dollar in bar vereinbart. Zu den Anlagen geh枚ren Gasaufnahme- und Transportleitungen mit einer Verarbeitungsleistung von 1,2 Milliarden Kubikfu脽 pro Tag, die 2024 mit 52 % Auslastung betrieben wurden.
Im Rahmen der Vereinbarung verpflichtet sich Harvest, MPLX ab 2028 f眉r sieben Jahre 12.000 Barrel pro Tag an NGL aus diesen Anlagen bereitzustellen. Die Transaktion, deren Abschluss f眉r das vierte Quartal 2025 erwartet wird, entspricht MPLX' strategischem Fokus auf Wachstum in den Becken Marcellus und Permian.
- Cash consideration of $1.0 billion strengthens balance sheet
- Strategic realignment focusing on higher-growth Marcellus and Permian basins
- Secured 7-year NGL dedication agreement for 12,000 barrels per day starting 2028
- Divesting assets that operated at only 52% capacity utilization in 2024
- Reduction in overall processing capacity by 1.2 billion cubic feet per day
"Evaluating the competitive positioning of our portfolio is a strategic commitment," said Maryann Mannen, MPLX president and chief executive officer. "The divestiture of these assets better positions our portfolio for growth, anchored in the Marcellus and Permian basins."
Assets included in the transaction are natural gas gathering and transportation pipelines and 1.2 billion cubic feet per day of processing capacity, which operated at
The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key
About Harvest Midstream
Harvest Midstream is a privately held midstream service provider based in
Investor Relations Contact: (419) 421-2071
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This press release contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX's expectations, estimates and projections concerning its business and operations and financial and strategic priorities. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," "could," "design," "endeavor," "estimate," "expect," "focus," "forecast," "goal," "guidance," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "progress," "project," "prospective," "pursue," "seek," "should," "strategy," "strive," "target," "trends," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes.聽MPLX cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPLX, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPLX's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: MPLX's ability to consummate the announced divestiture within the expected timeframe, if at all, including as a result of not obtaining required regulatory approvals or satisfying the other conditions to the closing; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement relating to the announced divestiture; MPLX's ability to fully realize the expected benefits of the announced divestiture; the adequacy of capital resources and liquidity, including the availability of capital resources to execute on its strategic priorities; and the other factors set forth under the heading "Risk Factors" and "Disclosures Regarding Forward-Looking Statements" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2024, and in other filings with the SEC.
Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.
Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at or by contacting MPLX's Investor Relations office.
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