Whistler Pipeline LLC (“Whistler”) announced the expansion of the Whistler pipeline’s Midland basin footprint with a new 36-inch lateral extending northwest into Martin County. The Martin County lateral will lengthen the existing 36-inch Midland lateral approximately 35 miles and connect to multiple processing sites in the county. The lateral is scheduled to be in service in the fourth quarter of 2022.
Whistler is owned by a consortium including MPLX LP (NYSE: MPLX), WhiteWater, and a joint venture between Stonepeak and West Texas Gas, Inc. (WTG).
About the Whistler Pipeline
The Whistler pipeline is an approximately 450-mile, 42-inch intrastate pipeline that transports natural gas from the Waha Header in the Permian Basin to Agua Dulce, Texas, providing direct access to South Texas and export markets. An approximately 85-mile 36-inch lateral provides connectivity to the Midland Basin.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX’s assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. MPLX also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com
About WhiteWater
WhiteWater is a management owned, Austin based midstream company. WhiteWater is partnered with multiple private equity funds including but not limited to Ridgemont Equity Partners and First Infrastructure Capital. Since inception, WhiteWater has reached final investment decision on ~$3 billion in greenfield development projects. For more information about WhiteWater, visit www.whitewatermidstream.com.
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. For more information about Ridgemont, visit www.ridgemontep.com.
About First Infrastructure Capital
First Infrastructure Capital Advisors, LLC is a Houston-based investment firm specializing in greenfield projects and companies operating in the midstream, downstream, electric power, telecommunications, and renewable energy industries. First Infrastructure Capital Advisors, LLC is an SEC-registered investment adviser, which manages funds affiliated with First Infrastructure Capital, L.P. For more information about First Infrastructure Capital, visit www.firstinfracap.com.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $43.5 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnerships to sustainably grow investments in its target sectors, which include transport and logistics, communications, water, energy transition, and power and renewable energy. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, and Sydney. For more information, please visit https://stonepeakpartners.com/.
About WTG
WTG (together with its affiliates) comprises a family of related natural gas midstream and downstream entities headquartered in Midland, Texas since 1976 with operations in more than 90 Texas and Oklahoma counties. These WTG entities operate more than 900 MMcfd of gas processing capacity with more than 9,000 miles of gathering systems, 1,800 miles of transmission pipelines and distribution systems serving approximately 25,000 LDC customers.
Some of the above statements constitute forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the companies named herein and are difficult to predict. Factors that could impact the opportunities described above include but are not limited to general domestic and international economic and political conditions and the factors described in MPLX’s filings with the Securities and Exchange Commission (SEC). Any forward-looking statement speaks only as of the date of the applicable communication and the companies named herein undertake no obligation to update any forward-looking statement except to the extent required by applicable law. Copies of MPLX’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC’s website, MPLX’s website at http://ir.mplx.com or by contacting MPLX’s Investor Relations office.
