Increased Quarterly Distribution
MPLX increased its quarterly distribution by 12.5% for the second consecutive year, reflecting strong financial performance and a positive growth outlook.
Strategic Acquisitions and Expansions
MPLX closed on two strategic acquisitions: the remaining 55% interest in the BANGL NGL pipeline system and a Delaware Basin sour gas treating business. These acquisitions are expected to enhance MPLX's platform and provide opportunities for growth.
Adjusted EBITDA Growth
MPLX reported an adjusted EBITDA of $1.8 billion for the quarter, contributing to a year-to-date adjusted EBITDA of $5.2 billion, reflecting a 4% growth over the prior year.
Strong Performance in Natural Gas and NGL Services
The natural gas and NGL services segment saw a 9% increase in Permian processing volumes and a 24% increase in Utica processing volumes year-over-year.
Solid Financial Position
MPLX maintains a solid balance sheet with leverage below the comfort level of 4x and ended the quarter with a cash balance of $1.8 billion.
Commitment to Capital Returns
MPLX returned nearly $1 billion to unitholders in distributions and $100 million in unit repurchases during the quarter.