SKU: MPLX Category:


MPLX LP delivered a mixed set of results for the previous quarter, with revenues above the analyst consensus. However, it failed to meet Wall Street’s earnings expectations. Compared to the previous year, the distributable cash flow has demonstrated a robust growth rate of over 6% in the first nine months of the current year. Looking ahead, MPLX is diligently advancing its 2023 capital program, projected at $950 million, encompassing $800 million in growth capital and $150 million in maintenance capital. In the logistics and storage segment, joint ventures in the Permian’s natural gas, crude oil, and NGL pipelines are progressing well. Whistler’s expansion, completed in the third quarter, and the ongoing construction of the Agua Dulce to Corpus Christi pipeline signify promising developments. Simultaneously, MPLX is expanding the BANGL pipeline in the NGL value chain, aiming for completion in the first half of 2025. Within the Gathering and Processing segment, they are responding to producer demand in the Permian and Marcellus basins by commissioning new gas processing plants. Projects such as Preakness II and Secretariat are anticipated to be online in 2024 and 2025, respectively, contributing to a total processing capacity of 1.4 Bcf per day in the Delaware Basin.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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