MPLX Lp
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- MPLX LP MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States, including crude oil and refined products pipelines; natural gas gathering systems and pipelines; natural gas and natural gas liquids (NGL) processing and fractionation facilities in key supply basins such as the Permian, Marcellus, and Utica; inland marine businesses with fleets of boats and barges for transporting light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals, as well as terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products via pipeline, rail, marine, and truck transportation. The master limited partnership, formed in 2012 and headquartered in Findlay, Ohio, operates through two main segments--Crude Oil and Products Logistics, and Natural Gas and NGL Services--and serves upstream producers, downstream refiners, and industrial customers across major U.S. energy basins. MPLX LP is a subsidiary of Marathon Petroleum Corporation, with MPLX GP LLC serving as its general partner. Recent strategic developments include the completion of its $2.375 billion acquisition of Northwind Midstream in September 2025 to enhance Permian sour gas gathering, treating, and processing capabilities with over 200 miles of pipelines and expansion potential to 440 MMcf/d by late 2026; the acquisition of the remaining 55% interest in BANGL, LLC for $715 million to gain full ownership of strategic NGL transportation assets connecting Permian production to Gulf Coast fractionation; and the announced $1.0 billion divestiture of its Rockies gathering and processing assets to Harvest Midstream, expected to close in the fourth quarter of 2025, to optimize its portfolio focus on high-growth Marcellus and Permian basins while retaining associated NGL commitments.
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