MPLX 2Q – Bullish on the Marcellus and “Now the Utica”

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. Last week, MPLX issued its second quarter 2024 update. During a conference call with analysts, MPLX's COO Greg Floerke said this about the Marcellus and Utica: "...there is room for us to grow, and we're still very bullish on the Marcellus and now the Utica."

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