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HOUSTON - Harvest Midstream has completed its previously announced $1 billion acquisition of natural gas gathering and processing assets from MPLX LP (NYSE:MPLX), the company announced Thursday. MPLX, currently trading at $52.47 and near its 52-week high of $54.87, has shown strong performance with a 24.3% return over the past year. According to InvestingPro, the company's Fair Value assessment indicates the stock is fairly valued.
The transaction includes approximately 1,500 miles of gas gathering pipelines and 845 million cubic feet per day of processing capacity across the Uinta and Green River basins in Wyoming, Utah, and Colorado.
The Uinta Basin assets comprise about 700 miles of gas gathering pipelines and 345 million cubic feet per day of processing capacity at the Ironhorse and Stagecoach facilities. The Green River Basin system includes roughly 800 miles of pipelines, 500 million cubic feet per day of processing capacity, and 10,000 barrels per day of fractionation capacity.
"This deal is about growth through action," said Jason C. Rebrook, Harvest CEO. "We are expanding where it matters most—in the heart of America's energy production."
With the completion of this transaction, Harvest has taken over operations of these assets and plans to maintain service for existing customers while pursuing growth opportunities. For MPLX, which operates with a moderate debt level and maintains an 8.21% dividend yield, this divestiture aligns with its asset optimization strategy. InvestingPro data reveals MPLX has maintained dividend payments for 13 consecutive years and offers investors significant income potential with its substantial yield.
The acquisition expands Harvest's national footprint and strengthens its position as one of the largest privately held midstream companies in the United States, according to the company's press release statement.
Harvest Midstream, based in Houston, provides midstream services including gathering, storage, transportation, treatment, and terminalling of crude oil and natural gas.
In other recent news, MPLX LP reported its Q3 2025 earnings, exceeding analysts' expectations. The company posted an adjusted earnings per share (EPS) of $1.52, significantly surpassing the forecast of $1.08. MPLX also reported revenue of $3.62 billion, which was higher than the projected $3.15 billion. These results indicate strong financial performance for the quarter. Analysts had predicted lower figures, but MPLX's results came in well above these estimates. The positive earnings report reflects investor confidence in the company's performance and future outlook. No new mergers or acquisitions were announced, and there were no recent analyst upgrades or downgrades reported for MPLX.
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