MPLX completes Permian pipeline acquisition

FINDLAY, March 3, 2025 – Midstream company MPLX has signed a definitive agreement with infrastructure company WhiteWater and oil and gas company Diamondback Energy to acquire the remaining 55% interest in the BANGL natural gas pipeline for USD 715 million, MPLX announced on Friday.

The transaction gives MPLX full ownership of the asset. BANGL transports up to 250,000 boepd of natural gas liquids from the Texas Permian basin to fractionation markets along the Gulf Coast and is currently being upgraded to increase capacity to 300,000 boepd by H2 2026.

MPLX’s other assets include a network of crude oil and refined product pipelines, onshore storage tanks and terminals with associated infrastructure and light-product marine terminals.

“With full ownership of BANGL and its expansion opportunities, our growth platform is further improved for the long term as we connect growing NGL production from the Permian basin to our recently announced Gulf Coast fractionation complex,” said Maryann Mannen, president and CEO of MPLX.

The transaction is subject to customary terms and conditions and is expected to close in July 2025.

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