HARVEST MIDSTREAM ACCELERATES EXPANSION WITH $1 BILLION ACQUISITION OF MPLX UINTA AND GREEN RIVER BASIN GAS GATHERING & PROCESSING ASSETS

MPLX LP (NYSE: MPLX) has agreed to sell its natural gas gathering and processing network in the Uinta and Green River basins to Harvest Midstream for $1 billion.

Rhea-AI Summary

MPLX LP (NYSE: MPLX) has agreed to sell its natural gas gathering and processing network in the Uinta and Green River basins to Harvest Midstream for $1 billion. The transaction, expected to close in Q4 2025, includes extensive assets across Wyoming, Utah, and Colorado.

The assets comprise approximately 1,500 miles of gas gathering pipelines and significant processing capacity including: 345 million cubic feet per day from the Ironhorse and Stagecoach facilities in the Uinta Basin, and 500 million cubic feet per day from the Blacks Fork and Vermilion facilities in the Green River Basin, plus 10,000 barrels per day of fractionator capacity.

Positive

• Strategic divestiture generating $1 billion in proceeds for MPLX
• Transaction allows MPLX to optimize its asset portfolio and potentially redeploy capital to core areas
• Deal expected to close quickly within Q4 2025, providing near-term value realization

Negative

• MPLX divesting significant processing capacity of over 845 million cubic feet per day
• Loss of extensive infrastructure footprint spanning 1,500 miles of gathering pipelines
• Reduction in geographic diversification with exit from Uinta and Green River basins

Argus Aug 27 session

-1.44% close to close Open Argus

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News Market Reaction – MPLX

On Aug 27, the day this news came out, MPLX closed 1.44% below the previous close.

Data tracked by StockTitan Argus for the Aug 27 session.

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HOUSTON, Aug. 27, 2025 /PRNewswire/ -- Harvest Midstream ("Harvest") today announced the signing of a purchase and sale agreement with MPLX LP (NYSE: MPLX) for the acquisition of an extensive natural gas gathering and processing network in the Uinta and Green River basins across Wyoming, Utah, and Colorado for $1 billion. The transaction is expected to close in the fourth quarter of 2025 and marks a significant milestone in Harvest's continued evolution into one of the nation's leading privately held midstream companies.

"This acquisition is the beginning of the next chapter of Harvest's ambitious and disciplined growth story," said Jason C. Rebrook, CEO. "We are executing on a long-term vision to build a scaled, resilient midstream network capable of supporting America's energy needs for decades to come — and these premier MPLX assets fit squarely into that strategy. We look forward to applying our operational expertise, commercial agility, and proven track record to deliver long-term value for our customers."

The Uinta Basin assets include approximately 700 miles of gas gathering pipelines and approximately 345 million cubic feet per day of active gas processing capacity at the Ironhorse and Stagecoach processing facilities with significant expansion work currently underway. The Green River Basin assets service multiple major gas fields in Wyoming and include approximately 800 miles of gas gathering and transportation pipelines and approximately 500 million cubic feet per day of active gas processing capacity from the Blacks Fork and Vermilion processing facilities and 10,000 barrels per day of fractionator capacity. These assets significantly expand Harvest's geographic reach, enhance connectivity across major production basins, and create meaningful platforms for future organic and acquisition-driven growth.

Following closing, Harvest will assume full operational control of the systems, deliver uninterrupted service for existing customers, and aggressively advance its vision of building a best-in-class, diversified midstream enterprise.

About Harvest Midstream:

Harvest Midstream is a Houston-based, privately held midstream service provider with a rapidly expanding national footprint. Focused on the gathering, storage, transportation, treatment, and terminalling of crude oil and natural gas, Harvest has accelerated its growth trajectory in recent years through a series of strategic acquisitions. From consolidating a premier position in the Bakken to broadening business in Alaska, these transactions have significantly increased the company's portfolio, positioning Harvest as a critical infrastructure partner across multiple U.S. basins.

For further information about Harvest, please contact:

Email: media@harvestmidstream.com

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SOURCE Harvest Midstream

FAQ

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What assets is MPLX selling to Harvest Midstream in the $1 billion deal?

MPLX is selling its natural gas gathering and processing network in the Uinta and Green River basins, including 1,500 miles of pipelines, processing facilities with 845 million cubic feet per day capacity, and 10,000 barrels per day of fractionator capacity.

When will MPLX complete the $1 billion asset sale to Harvest Midstream?

The transaction is expected to close in the fourth quarter of 2025.

What is the processing capacity of MPLX assets being sold in the Uinta Basin?

The Uinta Basin assets include 345 million cubic feet per day of active gas processing capacity at the Ironhorse and Stagecoach facilities.

What infrastructure is included in MPLX Green River Basin asset sale?

The Green River Basin assets include 800 miles of pipelines, 500 million cubic feet per day of processing capacity from Blacks Fork and Vermilion facilities, and 10,000 barrels per day of fractionator capacity.

How many miles of pipeline infrastructure is MPLX selling to Harvest?

MPLX is selling approximately 1,500 total miles of gas gathering pipelines, including 700 miles in the Uinta Basin and 800 miles in the Green River Basin.