Recent Updates — MPLX

The board of managers of MPLX GP LLC elected Micheal G. Dunn and Bruce L. Niemeyer as non-management directors to the general partner's board, effective November 1, 2026. The election expands the board size to twelve members, with both appointees joining the Audit and Conflicts Committees. Dunn brings over 35 years of midstream experience from Williams Companies, while Niemeyer offers more than 40 years in energy exploration and production from Chevron. MPLX LP is a diversified master limited partnership that owns and operates midstream energy infrastructure and logistics assets.

MPLX LP reported second-quarter 2026 net income attributable to MPLX of $1.077 billion and adjusted EBITDA of $1.775 billion. The partnership declared a quarterly distribution of $1.0765 per common unit, representing a coverage ratio of 1.3x against distributable cash flow of $1.45 billion. MPLX increased its 2026 growth capital spending outlook by $500 million to $2.9 billion and expects distribution increases of 12.5% in both 2026 and 2027. The company's leverage ratio stood at 3.7x, and it repurchased $50 million of common units during the quarter. MPLX LP is a diversified midstream energy partnership that owns and operates pipelines, storage facilities, and natural gas processing infrastructure.