MPLX 1Q – Marcellus Gathered Volumes Increase 10% Over 2023

In late 2015, MPLX (i.e., Marathon Petroleum) bought out and merged in the Utica Shale’s premier midstream company, MarkWest Energy, for $15 billion (see MarkWest Energy Investors/Unitholders Approve Merger with Marathon). The “new” MarkWest, aka MPLX, plays on a much larger stage now, including ownership and operation of major assets in the Permian Basin and in the Bakken Shale, in addition to the Marcellus/Utica. Yesterday, MPLX issued its first quarter 2024 update. During the conference call with analysts, MPLX executives said the Marcellus is the company's largest basin for gathering and processing. MPLX saw year-over-year volume increases of 10% for gathering and 7% for processing in the Marcellus, "driven by increased drilling and production growth." That's a bit of good news we weren't expecting.

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