Seemingly out of the blue, last week Marathon Petroleum’s midstream division, MPLX, announced they had reached an agreement with arguably THE premier Marcellus/Utica midstream company, MarkWest Energy, to buy out MarkWest and make it a division of MPLX–essentially a division of Marathon Petroleum (see Midstream Bombshell: MarkWest Sells Itself to Marathon Petroleum). We speculated at the time that MarkWest didn’t want to become a Williams–the target of a hostile takeover by someone they don’t want to own them. So MarkWest went and found a suitable suitor and sold themselves. Marathon has provided a bit more of their thinking about why they think MarkWest will make a great addition to MPLX and how it all works in the organization chart by issuing a useful PowerPoint presentation of “supplemental information.” We have that PowerPoint for you below…
