Mplx Lp Stock Price, News & Analysis

I Squared Capital has agreed to acquire a 37% stake in Matterhorn InvestCo, LLC, which owns 65% of the Matterhorn Express Pipeline (MXP). MXP is a strategic 2.5 billion cubic feet per day natural gas pipeline connecting the Permian Basin to Texas demand centers and Gulf Coast LNG export terminals. The pipeline, which began operations in November 2024, is fully contracted and serves growing energy demand centers, including LNG terminals, industrial hubs, and AI-driven data centers in Austin and Houston areas. Post-transaction, MXP's ownership will be distributed among MXP HoldCo (65%), ONEOK (15%), MPLX (10%), and Enbridge (10%). WhiteWater Midstream will continue operating the pipeline through MXP HoldCo. The transaction is expected to close in mid-2025.

In a significant infrastructure deal, I Squared, MPLX LP (MPLX), and Enbridge Inc. (ENB) have agreed to acquire equity interests in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy (DVN). Post-transaction, the ownership structure will be distributed as follows: WhiteWater will hold 65%, while MPLX and Enbridge will each own 10% of the pipeline. WhiteWater's equity stake will be jointly supported by FIC and I Squared, and they will continue to operate the pipeline. The deal is scheduled to close in Q2 2025.

MPLX reported strong Q1 2025 financial results with net income of $1.1 billion, up from $1 billion in Q1 2024. The company achieved 7% year-over-year adjusted EBITDA growth to $1.8 billion, with distributable cash flow of $1.5 billion. Key highlights include the strategic acquisition of remaining 55% stake in BANGL LLC for $715 million and FID of the Traverse natural gas pipeline. The company's Crude Oil segment saw adjusted EBITDA of $1.1 billion, while Natural Gas segment reached $660 million. MPLX announced a quarterly distribution of $0.9565 per unit with 1.5x coverage. The company maintains a strong financial position with $2.5 billion in cash and a leverage ratio of 3.3x, while executing multiple growth projects in the Permian and Marcellus basins.

MPLX (NYSE: MPLX) has announced its quarterly cash distribution for the first quarter of 2025. The company will distribute $0.9565 per common unit, which equals $3.826 on an annualized basis.

Key details of the distribution:

• Payment Date: May 16, 2025
• Record Date: May 9, 2025

The announcement includes important tax information for brokers and nominees handling MPLX units for non-U.S. investors. Under Treasury Regulations, 100% of the Partnership's distributions to non-U.S. investors are:

• Considered effectively connected with U.S. trade or business
• Subject to federal income tax withholding at the highest applicable rate
• Treated as exceeding cumulative net income for withholding purposes

Brokers and nominees, not MPLX, are responsible for withholding on distributions for non-U.S. investors.

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.