Strategic Acquisition of Northwind Midstream
MPLX announced the acquisition of Northwind Midstream for just under $2.4 billion. The acquisition adds over 200,000 dedicated acres in the Delaware Basin and is expected to be immediately accretive to MPLX's distributable cash flow.
Completion of Key Acquisitions
MPLX completed two Permian-based acquisitions: an additional 5% stake in the Matterhorn Express pipeline and the remaining 55% interest in the BANGL NGL pipeline system, enhancing its integrated natural gas value chain.
Positive Financial Performance
Adjusted EBITDA for Q2 2025 was $1.7 billion, a 2% increase year-over-year. The first half of the year saw a 5% adjusted EBITDA growth compared to the first half of 2024.
Expansion of Processing Capacity
MPLX is expanding its processing capacity in the Permian Basin with the Secretariat plant expected to be online by the end of 2025, increasing total capacity to 1.4 billion cubic feet per day.
Strong Financial Flexibility and Returns
MPLX announced $3.5 billion of bolt-on transactions in 2025 and expects mid-teen returns on investments, supporting consistent annual distribution increases and maintaining leverage below 4x.