MPLX Reports Boost in Total Pipeline Throughputs in Q1 2023
(Reuters) — Energy midstream company MPLX LP on Tuesday reported a boost in total pipeline throughputs of 6% for the first quarter of 2023, versus the same time a year ago.
The company's overall gathered volumes averaged 6.4 billion cubic feet per day (Bcf/d), a 21% increase from the first quarter of 2022, it said. Gathered volumes in the Marcellus in Pennsylvania averaged 1.4 Bcf/d, or a 4% increase.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) attributable to MPLX was $1,519 million in the quarter, compared with $1,393 million for the first quarter of 2022.
Net income rose to $943 million from $825 million.
The company said it is working to expand natural gas long-haul and crude gathering pipelines for the Permian and Bakken basins.
It is also expanding its Whistler pipeline from 2.0 Bcf/d to 2.5 Bcf/d, and the associated ADCC pipeline lateral into the Corpus Christi domestic and export markets.
MPLX is continuing work on its sixth 200 million cubic feet per day (MMcf/d) processing plant in the Permian basin, Preakness ll, expected online in the first half of 2024.
In the Marcellus, MPLX is progressing Harmon Creek ll, a 200 MMcf/d processing plant expected online in the first half of 2024.
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
Comments