MPLX LP To Acquire Northwind Delaware Holdings

(RTTNews) - MPLX LP (MPLX) has entered into a definitive agreement to acquire Northwind Delaware Holdings LLC for $2.375 billion in cash consideration. MPLX intends to finance the acquisition with debt. The company expects the transaction to be immediately accretive to distributable cash flow.

Northwind provides sour gas gathering, treating, and processing services in Lea County, New Mexico. The portfolio includes over 200,000 dedicated acres, 200+ miles of gathering pipelines, two in-service acid gas injection wells at 20 million cubic feet per day, and a third permitted well that will bring its total capacity to 37 MMcf/d.