Published: August 28, 2025 |

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MPLX has entered into a definitive agreement to divest its Rockies gathering and processing assets to a subsidiary of Harvest Midstream for $1 billion in cash consideration, subject to customary purchase price adjustments.

Harvest has contractually agreed to dedicate approximately 12 thousand barrels per day of NGLs from these assets to MPLX for a period of seven years commencing in 2028, following the expiration of a pre-existing commitment.

“Evaluating the competitive positioning of our portfolio is a strategic commitment. The divestiture of these assets better positions our portfolio for growth, anchored in the Marcellus and Permian basins,” said Maryann Mannen, MPLX president and chief executive officer.

Assets included in the transaction are natural gas gathering and transportation pipelines and 1.2 billion cubic feet per day of processing capacity, which operated at 52 percent in 2024.

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX’s assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins.

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