Mplx Lp - MPLX STOCK NEWS

WhiteWater, MPLX LP, and Enbridge Inc. (ENB) have announced a final investment decision through their WPC joint venture to construct the Traverse Pipeline, partnering with Targa Resources Corp. The project features a bi-directional 36-inch pipeline spanning approximately 160 miles along the Gulf Coast between Agua Dulce and the Katy area.

The pipeline is designed to transport up to 1.75 billion cubic feet per day of natural gas and will be connected to multiple sources including the Whistler, Blackcomb, and Matterhorn Express Pipelines. The infrastructure will be owned by the Blackcomb Pipeline joint venture, with ownership split between WPC (70.0%), Targa (17.5%), and MPLX (12.5%). WhiteWater will handle construction and operations, with service expected to begin in 2027.

MPLX LP (NYSE: MPLX) has announced the availability of its 2024 investor tax packages on the company's website www.mplx.com. The tax documents can be accessed through the 'Investor Data' link under the Investors tab or directly at https://www.taxpackagesupport.com/mplx.

The company will begin mailing physical tax packages to investors on March 21, 2025. For any questions regarding the Tax Reporting Package for the year ended December 31, 2024, investors can contact the toll-free number 1-800-232-0011.

MPLX LP (NYSE: MPLX) has announced it will release its 2025 first-quarter financial results on Tuesday, May 6, 2025. The company will host a conference call at 9:30 a.m. EDT on the same day to discuss the quarterly performance.

Investors and interested parties can access the conference call through MPLX's website. The earnings release and related investor materials will be available online before the call. A replay of the webcast will remain accessible on the company's website for two weeks following the event.

MPLX LP (NYSE: MPLX) has announced pricing of a $2.0 billion senior notes offering, consisting of two tranches: $1.0 billion of 5.400% senior notes due 2035 and $1.0 billion of 5.950% senior notes due 2055.

The proceeds will be used to:

• Repay or retire $1,189 million of 4.875% senior notes due June 2025
• Repay or retire MarkWest's $11 million of 4.875% senior notes due June 2025
• General partnership purposes

The offering is expected to close on March 10, 2025, with BofA Securities, Barclays Capital, and J.P. Morgan Securities acting as joint book-running managers.

MPLX LP (NYSE: MPLX) has announced a definitive agreement to acquire the remaining 55% interest in BANGL, for $715 million from WhiteWater and Diamondback Energy affiliates. The transaction includes potential additional earnout payments based on specific financial performance metrics.

The acquisition, expected to close in July 2025, will be immediately accretive and is projected to generate mid-teen returns for the partnership. Upon completion, the BANGL Pipeline will become a wholly owned asset of MPLX, consolidated in their financial results.

This strategic move enhances MPLX's growth platform by connecting growing NGL production from the Permian basin to their recently announced Gulf Coast fractionation complex. The deal remains subject to customary closing conditions, including Hart-Scott-Rodino Antitrust Improvements Act clearance.

MPLX LP (NYSE: MPLX) has announced the filing of its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2024. The report is accessible through the company's website at mplx.com under the 'Investors' tab in the 'SEC Filings' section.

Unitholders can request a complimentary hard copy of the Annual Report, including complete audited financial statements, by submitting a written request to MPLX's Investor Relations department at their Findlay, Ohio headquarters.

ONEOK (NYSE: OKE) and MPLX LP have announced joint ventures to build a new 400,000-barrel per day LPG export terminal in Texas City and a 24-inch pipeline from Mont Belvieu to the terminal. The export terminal joint venture, Texas City Logistics (TCX), is equally owned by both companies, with MPLX handling construction and operations. The facility is expected to be completed in early 2028 with a total investment of $1.4 billion split equally.

The pipeline joint venture, MBTC Pipeline , is owned 80% by ONEOK and 20% by MPLX, with ONEOK managing construction and operations. The total pipeline investment is $350 million. ONEOK's total share of capital investment for both projects is approximately $1.0 billion. The terminal will primarily handle low ethane propane and normal butane, with each company reserving 200,000-bpd capacity for their customers.

MPLX LP reported strong financial results for full-year 2024, with net income of $4.3 billion and adjusted EBITDA of $6.8 billion, representing increases of 10% and 8% year-over-year, respectively. The company returned $3.9 billion to unitholders through distributions and unit repurchases.

Key operational highlights include increased pipeline throughputs of 5.9 million barrels per day and terminal throughput of 3.1 million bpd. The company announced significant expansion plans including a new Gulf Coast fractionation complex with two 150,000 bpd facilities and a strategic partnership with ONEOK for a 400,000 bpd LPG export terminal.

For 2025, MPLX outlined a $2.0 billion capital spending plan, with $1.45 billion allocated to Natural Gas and NGL Services growth. The company maintained a strong financial position with $1.5 billion in cash and a leverage ratio of 3.1x.

MPLX LP (NYSE: MPLX) has announced its quarterly cash distribution for Q4 2024. The company will distribute $0.9565 per common unit, equivalent to $3.826 on an annualized basis. The distribution is scheduled for payment on February 14, 2025, to unitholders of record as of February 3, 2025.

The announcement includes a qualified tax notice for brokers and nominees holding MPLX units for non-U.S. investors. The notice specifies that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate, being treated as income effectively connected with U.S. trade or business.