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].