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.
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