MPLX LP Closes Northwind Midstream Acquisition
1. MPLX acquires Northwind Midstream for $2.375 billion, enhancing natural gas operations. 2. Acquisition expected to boost distributable cash flow immediately with mid-teen returns. 3. Expansion projects will increase gas treatment capacity from 150 to 440 MMcf/d. 4. Financed through senior notes, ensuring capital costs are secured for growth. 5. Minimum volume commitments from producers support the acquired business's stability.