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

1. MPLX is selling a gas gathering network to Harvest Midstream for $1 billion. 2. The deal expands Harvest's reach in the Uinta and Green River basins. 3. Completion is expected by Q4 2025, positioning Harvest for growth. 4. MPLX's assets were crucial for Harvest's strategy to enhance midstream capacity. 5. Harvest plans to leverage these assets for organic and acquisition-driven growth.

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FAQ

Why Neutral?

The asset sale indicates MPLX is optimizing its portfolio but may limit growth potential. Historical context shows MPLX has previously divested assets to focus on strategic growth areas.

How important is it?

The acquisition by Harvest signifies MPLX's strategic refocus, affecting future revenue streams. While it creates immediate cash flow, long-term implications on growth strategy are critical.

Why Long Term?

This transaction will influence MPLX's financials in the long-term as it reshapes its asset portfolio. Similar past transactions had prolonged impacts on liquidity and operational capacity.

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, /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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