MPLX LP Acquires Remaining 55% Interest in BANGL

MPLX LP acquired the remaining 55% interest in BANGL from affiliates of WhiteWater and Diamondback Energy for $715 million, with potential earnout payments based on financial performance metrics. The deal, expected to close in July 2025, will give MPLX full ownership of the BANGL Pipeline system, which transports natural gas liquids from the Permian Basin to the Gulf Coast and is being expanded to 300 thousand barrels per day. The acquisition advances MPLX's integrated NGL strategy by connecting Permian production to its recently announced Gulf Coast fractionation complex expected to be operational in 2028.