Description

MPLX: From Wellhead to Water—The Integrated Strategy Unlocking Gas & NGL Expansion!

MPLX reported adjusted EBITDA of approximately $7 billion for 2025, marking its fourth consecutive year of mid-single-digit three-year adjusted EBITDA growth CAGR. The company increased its distribution by 12.5% in 2025, resulting in total returns of $4.4 billion to unitholders. Capital deployment for 2025 amounted to $5.5 billion, focusing primarily on the natural gas and natural gas liquids (NGL) value chains in the Permian and Marcellus basins, representing strategic growth regions. The portfolio was further optimized by divesting noncore gathering and processing assets, resulting in a $23 million year-over-year impact on adjusted EBITDA within the natural gas and NGL services segment. MPLX’s 2026 capital plan calls for $2.4 billion in investments aimed at supportive long-term growth projects, including new gas processing facilities, pipeline expansions, and fractionation and export terminal construction.