MPLX completes a $2.38bn acquisition of Northwind Midstream, enhancing its natural gas and NGL value chains in the Permian Basin. The deal, signed in July 2025, is expected to boost MPLX’s distributable cash flow. The transaction signifies a seven-times multiple on projected 2027 EBITDA and a mid-teen unlevered return.

The acquisition includes over 200,000 acres, 200 miles of gathering pipelines, and operational acid gas injection wells with a capacity of 20mcf/d. Expansion projects are underway to increase total capacity to 37mcf/d by the second half of 2026. Minimum volume commitments from producers support these projects.

MPLX’s assets also include crude oil and refined product pipelines, inland marine business, terminals, storage caverns, and processing facilities in key US basins. The company financed the acquisition through net proceeds from $4.5bn senior notes issued last month. Expansion projects for ongoing expansion are planned.

Read more at Yahoo Finance: MPLX finalises $2.3bn Northwind Midstream acquisition