Mplx Lp Stock Price, News & Analysis

MPLX LP (NYSE: MPLX) announced the pricing of $1.5 billion in senior notes with a 4.950% interest rate due in 2052. The notes were priced at 98.982% of par value, with proceeds aimed at repaying outstanding borrowings under a loan agreement with Marathon Petroleum and a revolving credit facility. The offering is expected to close on March 14, 2022, pending customary conditions. Citigroup, RBC Capital Markets, and TD Securities are managing the offering.

MPLX LP (NYSE: MPLX) filed its Annual Report on Form 10-K for the year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report is accessible on MPLX's website under the "SEC Filings" section. Unitholders can request a free hard copy of the report, which includes audited financial statements. MPLX operates midstream energy infrastructure, including pipelines and logistics assets, and offers fuel distribution services across the U.S. More details can be found at www.mplx.com.

MPLX LP (NYSE: MPLX) has announced a new target to reduce methane emissions intensity by 75% below 2016 levels by 2030, expanding its existing 2025 goal of 50% reduction. The company has achieved approximately 45% of this target through its Focus on Methane program, which aims to mitigate methane emissions across its natural gas operations. MPLX's Chairman, Michael J. Hennigan, emphasized the company’s commitment to sustainable energy and improving its carbon profile as the energy sector evolves.

MPLX reported fourth-quarter 2021 net income of $830 million, up from $691 million in Q4 2020. Adjusted EBITDA for the quarter was $1.4 billion, compared to $1.4 billion the prior year. For the full year, net income reached $3.1 billion and adjusted EBITDA totaled $5.6 billion. The Logistics and Storage segment showed strong performance with $750 million in income from operations, while Gathering and Processing income rose to $306 million. MPLX also announced a distribution of $0.705 per unit. Capital spending in 2022 is projected at $900 million.

Whistler Pipeline LLC announced a new 36-inch lateral pipeline extending 35 miles into Martin County, enhancing its existing Midland Basin infrastructure. This expansion connects to multiple processing sites and is set to be operational in Q4 2022. The Whistler pipeline is a major 450-mile intrastate pipeline transporting natural gas from the Permian Basin to Agua Dulce, Texas. MPLX LP is a co-owner, emphasizing the collaborative efforts in midstream energy infrastructure development.

The board of directors of MPLX LP has declared a quarterly cash distribution of $0.7050 per common unit for Q4 2021, totaling $2.82 annually. This distribution is set for payment on Feb. 14, 2022, to unitholders of record as of Feb. 4, 2022. Additionally, MPLX's distributions to non-U.S. investors will be subject to the highest federal income tax withholding.

MPLX operates midstream energy infrastructure, including pipelines, terminals, and processing facilities across key U.S. supply basins.

WhiteWater Midstream, MPLX, and West Texas Gas have added Rattler Midstream as a fourth partner in their BANGL joint venture. Concurrently, Diamondback Energy entered into a long-term natural gas liquids product dedication with BANGL. The venture commenced full commercial service in Q4 2021, facilitating NGL takeaway capacity from MPLX and WTG plants in the Permian Basin to Sweeny, Texas. BANGL aims to expand its capacity up to 300,000 barrels per day, enhancing the efficiency of gas processing and fractionation in the region.

MPLX LP will host a conference call on February 2, 2022, at 9:30 a.m. EST to discuss its 2021 fourth-quarter and full-year financial results. Interested parties can listen via MPLX's website, where a replay will be available for two weeks. The necessary financial information, including the earnings release, will be accessible online prior to the call. MPLX operates midstream energy infrastructure and logistics, including pipelines, storage, and gathering systems in key U.S. supply basins.

MPLX announced a binding open season for its subsidiary, Tesoro High Plains Pipeline Company, to gauge shipper interest in expanding the Connolly Gathering System in North Dakota. This expansion aims to provide additional gathering services from new crude oil origin points, estimated to offer between 70,000 and 100,000 barrels per day based on shipper commitments. The open season runs from November 16, 2021, to December 15, 2021, with details available upon signing a Confidentiality Agreement.