U.S. Markets closed

MPLX pursuing alternatives to Alaskan logistics, storage operations

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • MPLX
  • MPC

NEW YORK, Nov 2 (Reuters) - MPLX LP said on Tuesday it is pursuing strategic alternatives for its Alaskan logistics and storage operations, which could include a sale.

MPLX, a partnership formed by Marathon Petroleum Corp to own, operate, develop and acquire midstream energy infrastructure assets, also is advancing its key growth projects in the Permian Basin related to areas including crude and natural gas, it said during a third-quarter earnings call.

Though takeaway capacity constraints have continued to limit production, MPLX has seen increased activity and volume growth in the Permian and the Bakken, it said.

"We continue to be really bullish on natural gas and NGL (natural gas liquids) growth," said Chief Commercial Officer Timothy Aydt. "I do believe we're well-positioned in the Permian in particular to take advantage of the investments we've made thus far." (Reporting by Stephanie Kelly in New York Editing by Matthew Lewis)