What’s MPLX LP Business Model?

MPLX LP acquires, owns, operates and develops crude oil, refined products and other hydrocarbon-based product pipelines and other midstream assets. The Company’s assets consist of a network of common carrier crude oil and product pipeline systems and associated storage assets in the Midwest and Gulf Coast regions of the United States.

What MPLX LP is doing in more details?

MPLX is a diversified master limited partnership formed in 2012 by Marathon Petroleum Corporation (MPC) to own, operate, develop and acquire midstream energy infrastructure assets.

It gathers, processes, and transports natural gas; gathers, transports, fractionates, stores and markets natural gas liquids (NGLs); and transports, stores and distributes crude oil and refined petroleum products.

Headquartered in Findlay, Ohio, MPLX’s assets consist of a network of crude oil and products pipeline assets located in the Midwest and Gulf Coast regions of the United States.

It owns and operates light-product terminals, an inland marine business, storage caverns, crude oil and product storage facilities (tank farms), a barge dock facility, and gathering and processing assets.MPLX went public in 2012.

Marathon Petroleum Corporation and MPLX completed another large drop-down deal in 2017, whereby MPLX paid $8.1 billion to obtain refining logistics assets and fuels distribution services from MPC. The transaction increased by 50% the size of MPLX’s balance sheet.