The increase in wholesale volumes would mean greater volume shipped by Marathon Petroleum Corporation (MPC), which is a positive for MPLX.
According to an MPLX press release, the increase in revenues and net income was due to higher pipeline tariffs.
MPC is a major revenue source for MPLX. It provides stable cash flows to MPLX, thanks to the long-term, fee-based agreements.
The barge dock is used both for crude oil barge loading and products barge unloading. It’s connected to the MPLX Wood River tank farm by two pipelines.
Canton to East Sparta consists of two parallel pipelines that connect MPC’s Canton refinery with the MPLX East Sparta, Ohio, breakout tankage and station.
MPLX LP’s (MPLX) product pipeline systems are integrated into Marathon Petroleum Corporation’s (MPC) refined product marketing terminals.
MPLX crude pipelines are connected to supply hubs, and transport crude oil to Marathon Petroleum Corporation’s, or MPC’s, refineries and third parties.
MPC is as crucial to MPLX as MPLX is to MPC. The possibility that MPC might drop down its midstream assets presents a great opportunity to MPLX.
Marathon Petroleum Corporation, or MPC, owns 100% of the MPLX general partnership, or GP, interests, as well as the incentive distribution rights.
Antero plans to achieve 45 to 50% growth in 2015 and 2016. These achievements would mean significant growth at Antero Midstream as well.
Antero was the biggest ever MLP IPO, which indicates that the markets support and are fond of MLPs.
Antero Midstream (AM), which raised $1.15 billion in its IPO, broke Shell Midstream’s record of $1.06 billion.
Antero Resources’ current acreage is focused in the Marcellus Shale in West Virginia and the Utica Shale in Ohio.
The public owns 30.3% limited partner interest, while Antero and its affiliates own the remaining 69.7% interest in the partnership.
On October 27, Antero Resources Corporation announced the initial public offering of Antero Midstream Partners LP.
KMP has the lowest EV/EBITDA multiple at 11.9x. EPD has the highest EV when scaled by EBITDA in the group. Its EV/EBITDA is 18.3x.
In October, EPD issued $2.75 billion in senior unsecured notes. EPD raised the money in connection with funding $2.4 billion of cash consideration that EPD paid in the Oiltanking transaction.
In 2013, LLS’ premium to WTI narrowed to ~$9.37 per barrel—from ~$17.52 per barrel in 2012. Year-to-date (or YTD), the spread continued to slide. Now, it’s near ~$4.80 per barrel.
Year-to-date (or YTD) 2014, EPD outperformed the industry and broader market. EPD’s stock returned ~20% YTD. On an annualized basis, this means an ~24% return.
In November 2014, EPD and Plains All American (PAA) announced the construction of a new condensate gathering system in the Three Rivers terminal.