Core Viewpoint - MPLX LP has signed a definitive agreement to acquire the remaining 55% interest in BANGL, LLC for $715 million, which is expected to enhance its growth platform and generate mid-teen returns for the partnership [1][2]. Transaction Details - The acquisition is expected to close in July 2025, subject to customary closing conditions, including antitrust clearance [3]. - Upon closing, the BANGL Pipeline will be fully owned by MPLX and consolidated into its financial results [3]. BANGL Pipeline Overview - The BANGL pipeline system currently transports up to 250 thousand barrels per day of natural gas liquids from the Permian basin to Gulf Coast fractionation markets, with an expansion planned to increase capacity to 300 thousand barrels per day by the second half of 2026 [4]. - The pipeline will facilitate the transportation of liquids to MPLX's Gulf Coast fractionation complex, which is expected to be operational in 2028 [4]. Company Background - MPLX LP is a diversified, large-cap master limited partnership that operates midstream energy infrastructure and logistics assets, including a network of pipelines, storage facilities, and processing plants [5].