MPLX LP filed a petition with the Federal Energy Regulatory Commission (FERC) on Feb. 15 seeking permission to expand the 230,000 barrel per day (Mbbl/d) Ozark crude pipeline.
MPLX expects the commission to act by May 10, so that the additional capacity on the pipeline, running from Cushing, Okla., to Wood River, Ill., could be in service in the second quarter of 2018.
The expansion will increase the total capacity by 115 Mbbl/d to 345 Mbbl/d, the filing said. In 2016, there were 19 active shippers on the pipeline.
On Feb. 13, an MPLX subsidiary agreed to purchase the Ozark Pipeline, currently owned by Enbridge Inc., for about $220 million.
MPLX is an MLP formed in 2012 by Marathon Petroleum Corp. (NYSE: MPC), according to its website. In 2015, it bought MarkWest Energy Partners, a deal that made it the fourth-largest MLP by market value in the U.S.
Recommended Reading
Oilfield Service Companies Dril-Quip, Innovex to Merge
2024-03-18 - Dril-Quip Inc. and Innovex Downhole Solutions Inc. will emerge as a new company, Innovex International, with expanded reach in global markets.
Talos Energy Sells CCS Business to TotalEnergies
2024-03-18 - TotalEnergies’ acquisition targets Talos Energy’s Bayou Bend project, and the French company plans to sell off the remainder of Talos’ carbon capture and sequestration portfolio in Texas and Louisiana.
EQT, Equitrans to Merge in $5.45B Deal, Continuing Industry Consolidation
2024-03-11 - The deal reunites Equitrans Midstream Corp. with EQT in an all-stock deal that pays a roughly 12% premium for the infrastructure company.
Continental Resources Makes $1B in M&A Moves—But Where?
2024-02-26 - Continental Resources added acreage in Oklahoma’s Anadarko Basin, but precisely where else it bought and sold is a little more complicated.
Permian Activity in ‘Low-to-no-growth’ Mode for First Half
2024-02-22 - After multiple M&A moves in 2023 and continued E&P adherence to capital discipline, Permian Basin service company ProPetro sees the play holding steady.