MPLX to acquire Northwind Delaware Holdings from Five Point Infrastructure for $2.375bn.

MPLX, a diversified large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics services, agreed to acquire Northwind Delaware Holdings, a company focused on developing, owning, and operating off-spec gas infrastructure, from Five Point Infrastructure, an energy investment firm, for $2.375bn. “We’re proud to have played a key role in unlocking development potential in the Northern Delaware Basin, which we continue to expect will be one of the most important oil producing regions in North America. This transaction is a clear validation of our investment thesis regarding the need for critical infrastructure development across the nation’s most productive energy basins. We congratulate MPLX on its acquisition of a great business and look forward to Northwind’s continued growth under their stewardship,” David Capobianco, Five Point Infrastructure CEO and Managing Partner.