Harvest Midstream Company entered into a definitive agreement to acquire Rockies Gathering and Processing Assets from MPLX LP (NYSE:MPLX) for $1 billion on August 27, 2025. A cash consideration of $1 billion (subject to customary purchase price adjustments) will be paid by Harvest Midstream Company. As part of consideration, $1 billion is paid towards assets of Rockies Gathering and Processing Assets of MPLX LP. Assets included in the transaction are natural gas gathering and transportation pipelines and 1.2 billion cubic feet per day of processing capacity, which operated at 52% in 2024. Following closing, Harvest will assume full operational control of the systems, deliver uninterrupted service for existing customers, and aggressively advance its vision of building a best-in-class, diversified midstream enterprise.
The transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close in the fourth quarter of 2025. Jeff Schlegel of Jones Day acted as legal advisor to MPLX LP (NYSE:MPLX). Chad M. Smith, William C. Eiland, Albert Jou, Jhett R. Nelson, Jonathan E. Kidwell, David Wheat, Joe Tobias, Maddison M. Riddick and Stephen M. Jacobson of Kirkland & Ellis, Dallas acted as legal advisor to Harvest Midstream Company.
Harvest Midstream Company completed the acquisition of Rockies Gathering and Processing Assets from MPLX LP (NYSE:MPLX) on November 13, 2025.
MPLX LP is a diversified master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuel distribution services. The Companyâs segments include Logistics and Storage (L&S) and Gathering and Processing (G&P). The L&S segment primarily engages in the gathering, transportation, storage and distribution of crude oil, refined products, other hydrocarbon-based products, and renewables. The L&S segment also includes the operation of its refining logistics, fuel distribution and inland marine businesses, terminals, rail facilities and storage caverns. The G&P segment provides gathering, processing and transportation of natural gas, as well as the transportation, fractionation, storage and marketing of natural gas liquids (NGLs). Its assets include a network of crude oil and refined product pipelines; an inland marine business; light-product, asphalt, heavy oil and marine terminals; storage caverns, and others.
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