Garry L. Peiffer, President of MPLX LP (MPLX), Interviews with The Wall Street Transcript

Wall Street Transcript

67 WALL STREET, New York - March 21, 2013 - The Wall Street Transcript has just published its Oil & Gas: Master Limited Partnerships Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Increasing Demand for Midstream Assets - U.S. Energy Infrastructure Build Out - Emerging Shale Plays - Oil and Gas Transportation Infrastructure Demand - Master Limited Partnerships Distribution Growth - Outlook for Natural Gas Liquids - Low Treasury Yields and MLP Dividends

Companies include: MPLX LP (MPLX) and many more.

In the following excerpt from the Oil & Gas: Master Limited Partnerships Report, the president of MLPX LP (MPLX) discuss his company's strategy and the outlook for this vital industry:

TWST: Do you envision the company's growth in the future being primarily organic, or would you anticipate making acquisitions?

Mr. Peiffer: Probably both. As you may know, a lot of the companies who create MLPs create those MLPs to generate cash to allow the sponsor to repair a balance sheet that maybe has been worn over time because of the cycles in whatever business they happen to be in. In MPLX's case, that was not the case. Marathon Petroleum has an investment-grade credit rating, and as of last year end we had no net debt, meaning no debt after cash on the balance sheet, so very strong financial balance sheet as well as credit ratings.

We are looking at MPLX primarily as a growth vehicle, not as a vehicle to spin off cash or to generate cash for the parent, but as a vehicle - or a currency in the case of the units from the partnership - that we can now go out and acquire logistical assets that for most companies that are not in the MLP space are rather pricey, but because, as you probably know, MLPs do not pay any federal corporate income taxes at the MLP level, all of the unit holders pay the taxes. We're able to now compete in that space for logistics assets just like the other approximately 100 MLPs that are in existence and are doing the bulk of the infrastructure buildout in this country.

TWST: What is your guidance on what you expect distributions to be for full-year 2013?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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