MPLX(MPLX) - 2021 Q2 - Earnings Call Presentation

Financial Performance - Adjusted EBITDA for Q2 2021 was $1374 million, compared to $1227 million in Q2 2020[22] - Distributable cash flow (DCF) attributable to MPLX LP was $1250 million in Q2 2021, up from $1027 million in Q2 2020[24] - Distribution coverage ratio increased to 173x in Q2 2021 from 139x in Q2 2020[23] - MPLX generated excess cash flow of $481 million in Q2 2021, a significant improvement from a deficit of $61 million in Q2 2020[23] - The company repurchased $155 million worth of units in Q2 2021[23] Segment Performance - Logistics & Storage (L&S) adjusted EBITDA increased from $839 million in Q2 2020 to $947 million in Q2 2021, driven by higher throughput and lower operating expenses[16] - Gathering & Processing (G&P) adjusted EBITDA increased from $388 million in Q2 2020 to $427 million in Q2 2021, benefiting from higher NGL prices and lower operating expenses[20] - Gathering volumes decreased by 8% to 51 Bcf/d, while processing volumes decreased by 1% to 84 Bcf/d compared to Q2 2020[18] Sustainability Initiatives - MPLX is targeting a 50% reduction in midstream methane emissions intensity by 2025 from 2016 levels[10] - The company is also aiming to reduce freshwater withdrawal intensity by 20% by 2030 from 2016 levels[12] Balance Sheet - MPLX's leverage ratio decreased to 37x as of June 30, 2021, compared to 39x at the end of 2020[26] - The company has $35 billion remaining capacity available under a $35 billion revolving credit agreement[26]