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MPLX LP Announces Quarterly Distribution
News provided by
MPLX LP
Apr 29, 2025, 13:35 ET
FINDLAY, Ohio, April 29, 2025 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $0.9565 per common unit for the first quarter of 2025, or $3.826 on an annualized basis. The distribution will be paid on May 16, 2025, to common unitholders of record as of May 9, 2025.
Qualified Tax Notice
Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold MPLX units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of the Partnership's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. Nominees, and not MPLX, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com.
Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President Finance and Investor Relations
Brian Worthington, Senior Director, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations
Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager
Whiptail Midstream Acquires DJR Energy's Oil, Gas, and Water Gathering Systems in the San Juan Basin Oil Window Alongside Long-Term Acreage Dedication
Whiptail Newsroom
March 21, 2022 08:00 AM Eastern
Whiptail Midstream Acquires DJR Energy's Oil, Gas, and Water Gathering Systems in the San Juan Basin Oil Window Alongside Long-Term Acreage Dedication
DJR offers Whiptail an opportunity to work with a best-in-class producer in a basin with significant growth potential
The acquisition enhances Whiptail's position as the leading multi-product midstream gathering platform in the San Juan Basin Oil WindowWhiptail Midstream announced today that the company has acquired the oil, gas, and water gathering assets of DJR Energy in the Gallup oil window of the San Juan Basin. As part of the transaction, DJR has agreed to a long-term dedication of its leasehold acreage for oil, natural gas, and water production to Whiptail. The acquisition more than doubles Whiptail's dedicated acreage, miles of pipeline and production flowing on its assets. The company now has more than 475,000 dedicated acres and nearly 525 miles of pipeline in the San Juan Basin.
Whiptail plans to build out gathering infrastructure for DJR as it develops its acreage. The assets will be designed for multi-well pad development to minimize future surface disturbance. The combined portfolio offers multiple synergies to make the midstream infrastructure in the San Juan as efficient and reliable as possible.
"We are excited to work with DJR in developing the midstream infrastructure that they need to support their activity in the San Juan Basin while also growing our network," said Whiptail Midstream CEO Josh Lamberton. "DJR is a proven operator with an experienced team and track record of exploring and developing oil and gas positions in the DJ and now the San Juan basins."
"Whiptail has a substantial infrastructure position in the San Juan, and we look forward to benefiting from their experience, operational efficiency and reliability as the midstream service provider for DJR and our upstream partners moving forward," said DJR CEO David H. Lehman.
