MPLX LP Completes $2.375 Billion Acquisition of Northwind Midstream, Expanding Permian Gas Operations
Reuters
Sep 02
MPLX LP Completes $2.375 Billion Acquisition of Northwind Midstream, Expanding Permian Gas Operations
MPLX LP has announced the completion of its $2.375 billion acquisition of Northwind Delaware Holdings LLC, enhancing its operations in Lea County, New Mexico. This strategic move expands MPLX's Permian natural gas and natural gas liquids value chains. The acquisition includes over 200,000 dedicated acres and more than 200 miles of gathering pipelines. Additionally, the system boasts 150 MMcf/d of sour gas treating capacity, with planned expansions set to increase this to 440 MMcf/d by the second half of 2026. The transaction is expected to boost distributable cash flow and was financed through proceeds from MPLX's recent $4.5 billion senior notes issuance.
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