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|MPLX Completes Successful Binding Open Season on Wood River-to-Patoka Pipeline Expansion|
FINDLAY, Ohio, Sept. 18, 2017 - MPLX LP (NYSE: MPLX) today announced that its subsidiary Marathon Pipe Line LLC (MPL) has completed a successful binding open season for the expansion of the Wood River-to-Patoka pipeline. Having obtained strong interest from prospective shippers, MPL will continue with plans to increase the capacity of the pipeline by 130,000 barrels per day. The expansion will provide additional capacity for Mid-continent crude movements to Midwest markets via Patoka, Illinois, a large hub for crude oil storage and distribution.
"We are very pleased with the strong shipper interest in our Wood River-to-Patoka expansion project," MPLX President Michael J. Hennigan said. "The increased capacity of this system, expected to be completed by the second quarter of 2018, will provide additional throughput and revenue opportunities for MPLX. Likewise, it is expected to contribute to continued growth in the partnership's distributable cash flow.
"This expansion project is another example of investment that provides expanded crude optionality for shippers, including our sponsor Marathon Petroleum Corp., and adds to MPLX's growth in long-term earnings," Hennigan said.
The binding open season began on Aug. 1, 2017, and concluded on Aug. 31, 2017.
About the Wood River-to-Patoka Pipeline
About Marathon Pipe Line LLC
About MPLX LP
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This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, statements with respect to forecasts regarding capacity, rates, incremental investment and timing for becoming operational for the opportunities discussed above, as well as MPLX's future growth and results of operations. You can identify forward-looking statements by words such as "anticipate," "believe," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "objective," "opportunity," "outlook," "plan," "position," "pursue," "prospective," "predict," "project," "potential," "seek," "strategy," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such 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 company and are difficult to predict. Factors that could impact the opportunities described above are: the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; continued/further volatility in and/or degradation of market and industry conditions; changes to the expected construction costs and timing of projects; completion of pipeline capacity by our competitors; the ability to obtain required regulatory approvals on a timely basis; the occurrence of an operational hazard or unforeseen interruption; and the factors set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2016, filed with the Securities and Exchange Commission (SEC). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPLX's Form 10-K could also have material adverse effects on forward-looking statements. Copies of MPLX's Form 10-K are available on the SEC website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.