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HARVEST MIDSTREAM ACCELERATES EXPANSION WITH $1 BILLION ACQUISITION OF MPLX UINTA AND GREEN RIVER BASIN GAS GATHERING & PROCESSING ASSETS

1. Harvest Midstream agreed to buy MPLX assets for $1 billion. 2. Transaction enhances Harvest's midstream capabilities and geographic reach. 3. Closing expected in Q4 2025, allowing operational control transition.

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FAQ

Why Neutral?

Although the acquisition shows MPLX's asset value, it may not directly affect market perception until the deal closes. Historical deals like these tend to stabilize asset valuations in the midstream sector without immediate fluctuations.

How important is it?

The acquisition signifies MPLX's strategic asset management but might indicate higher competition in midstream assets. As Harvest expands, MPLX's market strategy and adaptations will be crucial for maintaining its market position.

Why Long Term?

The acquisition will impact MPLX's valuation significantly as the deal closes, which could enhance MPLX's market presence over years. As Harvest progresses with integration, MPLX's ongoing asset management could reflect added value or strategic repositioning in the market.

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OKEETDTE
, /PRNewswire/ -- Harvest Midstream ("Harvest") today announced the signing of a purchase and sale agreement with MPLX LP (NYSE: MPLX) for the acquisition of an extensive natural gas gathering and processing network in the Uinta and Green River basins across Wyoming, Utah, and Colorado for $1 billion. The transaction is expected to close in the fourth quarter of 2025 and marks a significant milestone in Harvest's continued evolution into one of the nation's leading privately held midstream companies. "This acquisition is the beginning of the next chapter of Harvest's ambitious and disciplined growth story," said Jason C. Rebrook, CEO. "We are executing on a long-term vision to build a scaled, resilient midstream network capable of supporting America's energy needs for decades to come — and these premier MPLX assets fit squarely into that strategy. We look forward to applying our operational expertise, commercial agility, and proven track record to deliver long-term value for our customers." The Uinta Basin assets include approximately 700 miles of gas gathering pipelines and approximately 345 million cubic feet per day of active gas processing capacity at the Ironhorse and Stagecoach processing facilities with significant expansion work currently underway. The Green River Basin assets service multiple major gas fields in Wyoming and include approximately 800 miles of gas gathering and transportation pipelines and approximately 500 million cubic feet per day of active gas processing capacity from the Blacks Fork and Vermilion processing facilities and 10,000 barrels per day of fractionator capacity. These assets significantly expand Harvest's geographic reach, enhance connectivity across major production basins, and create meaningful platforms for future organic and acquisition-driven growth. Following closing, Harvest will assume full operational control of the systems, deliver uninterrupted service for existing customers, and aggressively advance its vision of building a best-in-class, diversified midstream enterprise. About Harvest Midstream: Harvest Midstream is a Houston-based, privately held midstream service provider with a rapidly expanding national footprint. Focused on the gathering, storage, transportation, treatment, and terminalling of crude oil and natural gas, Harvest has accelerated its growth trajectory in recent years through a series of strategic acquisitions. From consolidating a premier position in the Bakken to broadening business in Alaska, these transactions have significantly increased the company's portfolio, positioning Harvest as a critical infrastructure partner across multiple U.S. basins. For further information about Harvest, please contact: Email: [email protected] SOURCE Harvest Midstream WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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