Accessibility StatementSkip Navigation FINDLAY, Ohio, Sept. 9, 2025 /PRNewswire/ -- MPLX LP (NYSE: MPLX)Â will host a conference call on Tuesday, November 4, 2025, at 9:30 a.m. EST to discuss 2025 third-quarter financial results. MPLX LP Closes Northwind Midstream Acquisition MPLX LP (NYSE: MPLX) has completed the $2.375 billion acquisition of Northwind Delaware Holdings LLC (Northwind Midstream), which provides sour gas... Investor Relations Contacts: (419) 421-2071Kristina Kazarian, Vice President Finance ...

Core Viewpoint - Kayne Anderson Energy Infrastructure Fund, Inc. reported its financial position as of August 31, 2025, highlighting a strong net asset value and significant asset coverage ratios under the Investment Company Act of 1940 [1][2]. Financial Summary - The Company's net assets totaled $2.3 billion, with a net asset value per share of $13.82 as of August 31, 2025 [2]. - Total assets amounted to $3,234.7 million, which included investments of $3,223.1 million and cash and cash equivalents of $8.9 million [3]. - The asset coverage ratio for senior securities representing indebtedness was 723%, while the total leverage coverage ratio was 522% [2]. Liabilities Overview - Total liabilities were reported at $347.1 million, which included a credit facility of $50 million, notes of $350 million, and a deferred tax liability of $294.2 million [3]. Investment Composition - The Company had 169,126,038 common shares outstanding and invested primarily in Midstream Energy Companies (94%), with smaller allocations to Power Infrastructure (3%) and Other (3%) [5]. - The ten largest holdings included significant investments in companies such as The Williams Companies, Inc. ($344 million), Enterprise Products Partners L.P. ($327.1 million), and Energy Transfer LP ($323.8 million) [5]. Investment Objective - The Company aims to provide a high after-tax total return with a focus on cash distributions to stockholders, investing at least 80% of its total assets in securities of Energy Infrastructure Companies [7].

Core Viewpoint - MPLX LP has completed a $2.375 billion acquisition of Northwind Delaware Holdings LLC, enhancing its natural gas and NGL value chains in the Permian Basin [1][2]. Financial Summary - The acquisition is expected to be immediately accretive to distributable cash flow and involves an estimated incremental capital of $500 million, representing a 7x multiple on forecast 2027 EBITDA and an estimated mid-teen unlevered return [2]. - The acquisition was financed through net proceeds from MPLX's $4.5 billion senior notes issued in August 2025 [2]. Operational Details - The acquired business complements MPLX's existing Delaware basin natural gas system, consisting of over 200,000 dedicated acres, 200+ miles of gathering pipelines, and two in-service acid gas injection wells with a capacity of 20 million cubic feet per day (MMcf/d), with a third well permitted to increase total capacity to 37 MMcf/d [3]. - The system currently has a sour gas treating capacity of 150 MMcf/d, with expansion projects expected to increase this capacity to 440 MMcf/d by the second half of 2026 [3]. - The system is supported by minimum volume commitments from top regional producers [3]. Company Overview - MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets, including crude oil and refined product pipelines, storage caverns, and natural gas processing facilities [4].

Core Viewpoint - MPLX LP has announced the sale of its Rockies gathering and processing assets for $1 billion in cash to Harvest Midstream, allowing MPLX to focus on its core business areas in the Marcellus and Permian basins [1][4][8] Asset Details - The transaction includes MPLX's natural gas gathering and processing infrastructure in the Uinta and Green River basins, consisting of gathering and transportation pipelines, and a processing capacity of 1.2 billion cubic feet per day [2][8] - The assets were utilized at 52% capacity in 2024, indicating potential for increased throughput and supporting future natural gas production growth in these basins [2] Specific Asset Information - Uinta Basin assets include gas-gathering pipelines spanning 700 miles and approximately 345 million cubic feet per day of active gas processing capacity, currently under expansion [3] - Green River Basin assets consist of gathering and transportation pipelines spanning 800 miles, with 500 million cubic feet per day of active gas processing capacity at the Blacks Fork and Vermilion facilities, along with an additional fractionation capacity of 10 thousand barrels per day [3] Strategic Implications - By divesting these non-core assets, MPLX aims to enhance its portfolio and position itself for sustainable growth, with the deal expected to conclude in the fourth quarter of 2025 [4] - For Harvest Midstream, the acquisition aligns with its strategy to build a reliable midstream network and diversify operations beyond Alaska and North Dakota [4]

Core Viewpoint - Harvest Midstream has signed a purchase and sale agreement with MPLX LP to acquire a natural gas gathering and processing network for $1 billion, marking a significant step in its growth strategy [1][2]. Company Overview - Harvest Midstream is a Houston-based privately held midstream service provider focused on gathering, storage, transportation, treatment, and terminalling of crude oil and natural gas [3]. - The company has been expanding its national footprint through strategic acquisitions, enhancing its position as a critical infrastructure partner across multiple U.S. basins [3]. Acquisition Details - The acquisition includes assets in the Uinta and Green River basins across Wyoming, Utah, and Colorado, which will significantly expand Harvest's geographic reach [1][2]. - Uinta Basin assets consist of approximately 700 miles of gas gathering pipelines and 345 million cubic feet per day of active gas processing capacity [2]. - Green River Basin assets include around 800 miles of gas gathering and transportation pipelines and 500 million cubic feet per day of active gas processing capacity, along with 10,000 barrels per day of fractionator capacity [2]. Strategic Vision - The CEO of Harvest Midstream emphasized that this acquisition is part of a long-term vision to build a resilient midstream network to support America's energy needs [2]. - Following the acquisition, Harvest will assume full operational control and aims to deliver uninterrupted service while advancing its goal of creating a best-in-class, diversified midstream enterprise [3].

Core Viewpoint - MPLX LP has announced a definitive agreement to divest its Rockies gathering and processing assets to Harvest Midstream for $1.0 billion in cash, which is expected to enhance its portfolio for growth in key basins [1][2]. Group 1: Transaction Details - The divestiture involves natural gas gathering and transportation pipelines along with 1.2 billion cubic feet per day of processing capacity, which operated at 52% in 2024 [2]. - The transaction is anticipated to close in the fourth quarter of 2025, pending customary closing conditions including regulatory clearance [3]. Group 2: Strategic Positioning - The divestiture is part of a strategic commitment to evaluate the competitive positioning of MPLX's portfolio, focusing on growth anchored in the Marcellus and Permian basins [2]. - Harvest Midstream has agreed to dedicate approximately 12 thousand barrels per day of NGLs from the divested assets to MPLX for seven years starting in 2028 [1][2]. Group 3: Company Background - MPLX LP is a diversified, large-cap master limited partnership that operates midstream energy infrastructure and logistics assets, including a network of crude oil and refined product pipelines [4]. - Harvest Midstream is a privately held midstream service provider based in Houston, TX, operating various crude oil and natural gas gathering and transportation assets across the U.S. [5].

Core Viewpoint - The Eiger Express Pipeline project, a joint venture involving ONEOK, Enbridge, MPLX, and WhiteWater, is set to enhance the growth potential of these high-yielding dividend stocks by transporting natural gas from the Permian Basin to the Gulf Coast, with completion expected by mid-2028 [1][2][4]. Group 1: Eiger Express Pipeline Overview - The Eiger Express Pipeline will transport up to 2.5 million cubic feet per day of natural gas, enabling producers in the Permian Basin to access higher-value markets along the Gulf Coast [4]. - The pipeline will support growing demand from gas-fired power plants and LNG export terminals, receiving gas from various processing facilities in the Permian Basin [4]. Group 2: Financial Structure and Ownership - Firm transportation contracts with terms of 10 years or more will provide stable income for the pipeline's owners upon its commercial service launch in mid-2028 [5]. - The Matterhorn JV, which owns 70% of the Eiger Express Pipeline, includes WhiteWater (65%), ONEOK (15%), MPLX (10%), and Enbridge (10%) [5]. Group 3: Growth Prospects for ONEOK - ONEOK will hold a 25.5% interest in the Eiger Express Pipeline, positioning it as the largest beneficiary among publicly traded pipeline companies [6]. - The company is also involved in other significant projects, including a JV with MPLX for the Texas City Logistics LPG export terminal and associated MBTC pipeline, with an investment of approximately $1 billion [6]. Group 4: MPLX's Growth Strategy - MPLX will have a 15% direct interest in the Eiger Express Pipeline, enhancing its long-term growth outlook alongside several expansion projects in its backlog [9]. - The company aims for mid-single-digit annual earnings growth, supporting distribution growth at or above this level, with a historical increase in payouts exceeding 10% annually since 2021 [10]. Group 5: Enbridge's Expansion Plans - Enbridge will have a 10% interest in the Matterhorn JV, but it has a substantial expansion project backlog exceeding 32 billion Canadian dollars ($23 billion) [11]. - The company anticipates 3% compound annual cash flow per-share growth through 2026, increasing to around 5% annually thereafter, supporting dividend growth of up to 5% per year [12]. Group 6: Investment Outlook - The Eiger Express Pipeline adds a significant growth driver for ONEOK, MPLX, and Enbridge, enhancing their ability to grow high-yielding dividends, making them attractive long-term investment options for passive income [13].

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Core Viewpoint - The Eiger Express Pipeline is a new infrastructure project aimed at transporting natural gas from the Permian Basin to the Gulf Coast, addressing the increasing demand for natural gas in electricity generation and LNG exports [1][4]. Pipeline Details - The Eiger Express Pipeline will span approximately 450 miles and have a diameter of 42 inches, with a capacity to transport up to 2.5 billion cubic feet per day (Bcf/d) [2]. - It will connect natural gas from processing facilities owned by ONEOK and MPLX, as well as pipeline connections in the Midland and Delaware basins [2]. Joint Venture Ownership - The Eiger Express Pipeline joint venture is owned 70% by the Matterhorn JV, with ONEOK and MPLX each holding a 15% stake [3]. - ONEOK's total ownership interest in the pipeline is 25.5%, which includes its stake in the Matterhorn JV [3]. Strategic Importance - The pipeline is positioned to enhance transportation capacity from the Permian Basin, which is known for its high productivity [4]. - It is supported by firm transportation agreements with contract terms of 10 years or longer, ensuring stable revenue streams [4]. Construction and Timeline - WhiteWater will be responsible for the construction and operation of the pipeline, which is expected to be completed by mid-2028, pending regulatory approvals [4]. Company Background - ONEOK is a leading midstream operator with a vast pipeline network of approximately 60,000 miles, providing essential energy products and services [5]. - The company is headquartered in Tulsa, Oklahoma, and is part of the S&P 500 [6]. Matterhorn Joint Venture - The Matterhorn JV, which includes WhiteWater, ONEOK, MPLX, and Enbridge, owns long-haul natural gas pipelines that connect the Permian Basin to the Gulf Coast and LNG export markets [7]. WhiteWater Overview - WhiteWater is an infrastructure company based in Austin, Texas, operating multiple gas transmission assets, including the Eiger Express Pipeline [8]. MPLX Overview - MPLX is a diversified master limited partnership that operates midstream energy infrastructure and logistics assets, including crude oil and refined product pipelines [9]. Enbridge Overview - Enbridge connects millions to energy through its North American natural gas, oil, and renewable power networks, and is investing in modern energy delivery infrastructure [10].

Group 1: Eiger Express Pipeline Overview - The Eiger Express Pipeline is designed to transport up to 2.5 billion cubic feet per day (Bcf/d) of natural gas through approximately 450 miles of 42-inch pipeline from the Permian Basin in West Texas to the Katy area [2] - The pipeline will source supply from multiple connections in the Permian Basin, including gas processing facilities in the Midland Basin and from the Delaware Basin via the Agua Blanca Pipeline [2] - The Eiger Express Pipeline is a joint venture owned 70% by the Matterhorn JV, with ONEOK and MPLX each holding a 15% stake, resulting in 25.5% and 22% ownership in the pipeline for ONEOK and MPLX respectively [3] Group 2: Matterhorn Joint Venture - The Matterhorn JV is owned by WhiteWater (65%), ONEOK (15%), MPLX (10%), and Enbridge (10%), and it owns long-haul natural gas pipelines that transport gas from the Permian Basin to the Gulf Coast [4] - The Matterhorn JV also owns the Matterhorn Express Pipeline and 70% of the Eiger Express Pipeline [4] Group 3: Company Profiles - WhiteWater is an Austin, Texas-based infrastructure company that operates multiple gas transmission assets, including the Matterhorn Express Pipeline and the Eiger Express Pipeline [5] - ONEOK is a leading midstream operator with a pipeline network of approximately 60,000 miles, providing essential energy products and services [8][9] - MPLX is a diversified master limited partnership that owns and operates midstream energy infrastructure and logistics assets [10] - Enbridge connects millions to energy through its North American natural gas, oil, and renewable power networks, and is investing in modern energy delivery infrastructure [11]