Marathon 3Q15: Closing on MarkWest Merger “Later this Year”

coming soonBelow is the third quarter 2015 update from Marathon Petroleum Corporation (MPC). Headquartered in Findlay, OH, MPC is the nation’s fourth-largest refiner, with a crude oil refining capacity of approximately 1.7 million barrels per calendar day in its seven-refinery system. Increasingly the oil that MPC refines comes from the Marcellus/Utica. You may recall that MPC is in the process of buying MarkWest Energy for $20 billion, arguably *the* premier midstream company operating in the Marcellus/Utica region (see Midstream Bombshell: MarkWest Sells Itself to Marathon Petroleum). In their 3Q15 update, MPC says they hope to close on the MarkWest buyout “later this year.” That’s the primary reason to bring you MPC’s update. The secondary reason to bring you the update is because MPC owns the Speedway convenience store chain spanning 22 states. Speedway (at least some of them) used to be called Hess. MPC purchased the Hess gas stations/convenience stores from Hess last year this time for $2.8 billion (see Marathon Petroleum Buys the Hess Truck! What Will We Do for Xmas?). Has your local Hess station been renamed to Speedway yet? Ours have in upstate New York…

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