2017 News Releases

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12/15/17Marathon Petroleum Corp. and MPLX LP announce agreement to exchange MPC's general partner economic interests, including IDRs, for MPLX common units
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Dec. 15, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced a definitive agreement for MPC to exchange its general partner (GP) economic interests in MPLX, which include incentive distribution rights (IDRs), for 275 million newly issued MPLX common (LP) units valued at approximately $10.1 billion based on the volume-weighted average price of MPLX over the past 10 days.  The transaction is expected to close on Feb. ... 
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11/13/17Marathon Petroleum Corp. and MPLX LP announce agreement for approximately $8.1 billion dropdown to MPLX, and MPC initiates offer to exchange its general partner interests, including its IDRs, in MPLX
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Nov. 13, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced an agreement for the dropdown of refining logistics assets and fuels distribution services to MPLX for total consideration of approximately $8.1 billion. The transaction is expected to close on Feb. 1, 2018, and be immediately accretive to MPLX's distributable cash flow per unit. These assets and services are projected to generate annual earnings before in... 
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11/03/17MPLX LP announces appointment of C. Kristopher Hagedorn as vice president and controller
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Nov. 3, 2017 - MPLX LP (NYSE: MPLX) today announced the appointment of C. Kristopher Hagedorn as vice president and controller of the general partner of MPLX, effective Dec. 4. Hagedorn, 41, comes to MPLX after serving for five years at CONSOL Energy Inc. in various roles, most recently as its vice president and controller. Hagedorn replaces Paula Rosson, who has accepted the position of senior vice president and chief administrative officer of MPL... 
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10/26/17MPLX LP Reports Record Third-Quarter 2017 Financial Results
(GLOBE NEWSWIRE via COMTEX) --- Reported record third-quarter net income of $216 million and adjusted EBITDA of $538 million - Reported third-quarter net cash from operating activities of $494 million and distributable cash flow of $442 million - Achieved record gathered, processed and fractionated volumes - Declared 19th consecutive quarterly distribution increase to $0.5875 per common unit - Completed acquisition of joint-interest ownership in certain pipeline and storage faci... 
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10/25/17MPLX LP increases quarterly distribution
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Oct. 25, 2017 - MPLX LP (NYSE: MPLX) today announced that the board of directors of its general partner has declared a cash distribution of $0.5875 per common unit for the third quarter of 2017. This represents an increase of $0.025 per unit, or 4 percent, over the second-quarter 2017 distribution, and an increase of $0.0725 per unit, or 14 percent, over the third-quarter 2016 distribution. Since the partnership's initial public offering in October 20... 
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10/17/17Marathon Pipe Line LLC Announces Plans for Capline Reversal Non-Binding Open Season
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Oct. 17, 2017 - Marathon Pipe Line LLC, operator of the 40-inch, 1.2 million barrel per day capacity Capline pipeline, announced today that the pipeline's owners are launching a non-binding open season to gauge shipper interest in a proposed reversal of Capline, which currently transports crude oil from St. James, Louisiana, to Patoka, Illinois.  The non-binding open season will be managed on behalf of the Capline owners by the law firm of Caldwell... 
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10/05/17MPLX LP to announce 2017 third-quarter financial results Oct. 26
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Oct. 5, 2017 - MPLX LP (NYSE: MPLX) a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call Thursday, Oct. 26, at 11 a.m. EDT to discuss 2017 third-quarter financial results, which will be released earlier that day, and to provide an update on partnership operations. MPLX participants will be Gary R. Heminger, chairman and chief executive officer; Michael J. Hennigan, president; Pamela K.M. Beall,... 
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09/18/17MPLX Completes Successful Binding Open Season on Wood River-to-Patoka Pipeline Expansion
(GLOBE NEWSWIRE via COMTEX) --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 ... 
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09/01/17Marathon Petroleum Corp. drops down joint-interest ownership in certain assets to MPLX for $1.05 billion
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Sept. 1, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today closed a transaction in which MPC contributed its joint-interest ownership in certain pipelines and storage facilities to MPLX for total consideration of $1.05 billion. The assets include MPC's ownership interests in: - Explorer Pipeline Co., representing a 24.51 percent interest in the company - Lincoln Pipeline LLC, representing a 35 percent interest in the ... 
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08/29/17Marathon Petroleum Corp. and MPLX LP to present at Barclays' 2017 CEO Energy-Power Conference
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Aug. 29, 2017 - On Tuesday, Sept. 5, members of senior management of Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) will deliver a presentation to investors and industry analysts at Barclays' 2017 CEO Energy-Power Conference in New York City. The presentation is scheduled to begin at 11:45 a.m. EDT. The live webcast and archived presentation can be viewed on MPC's Investor Relations website, http://ir.marathonpetroleum.com, and MPLX'... 
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08/04/17MPLX LP announces retirement of Executive VP and General Counsel C. Corwin Bromley, appointment of Suzanne Gagle as VP and General Counsel
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Aug. 4, 2017 - MPLX LP (NYSE: MPLX) today announced that C. Corwin "Cory" Bromley, executive vice president and general counsel, has elected to retire effective Jan. 1, 2018, after a 33-year legal career in the energy, minerals and construction industries. Bromley joined MPLX in 2015, at the time of its strategic combination with MarkWest Energy Partners, L.P. Bromley joined MarkWest as general counsel in 2004. Prior to his career with MarkWest, Br... 
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08/01/17MPLX Announces Binding Open Season for Wood River-to-Patoka Pipeline Expansion
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Aug. 1, 2017 - MPLX LP (NYSE: MPLX) today announced that its subsidiary Marathon Pipe Line LLC (MPL) has commenced a binding open season for the Wood River-to-Patoka pipeline. The binding open season allows interested shippers the opportunity to secure priority transportation service on the pipeline. The binding open season commenced at 8 a.m. CT on Aug. 1, 2017, and will conclude at noon CT on Aug. 31, 2017. "The MPLX Wood River-to-Patoka Expan... 
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07/27/17MPLX LP Reports Second-Quarter 2017 Financial Results
(GLOBE NEWSWIRE via COMTEX) --- Reported record second-quarter net income of $190 million and adjusted EBITDA of $474 million - Reported second-quarter net cash from operating activities of $467 million and distributable cash flow of $387 million - Declared 18th consecutive quarterly distribution increase to $0.5625 per common unit, and continue to forecast 2017 distribution growth of 12 to 15 percent - Targeting third-quarter 2017 for next dropdown in series of acquisitions planned... 
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07/26/17MPLX LP increases quarterly distribution
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, July 26, 2017 - MPLX LP (NYSE: MPLX) today announced that the board of directors of its general partner has declared a cash distribution of $0.5625 per common unit for the second quarter of 2017. This represents an increase of $0.0225 per unit, or 4 percent, over the first-quarter 2017 distribution, and an increase of $0.0525 per unit, or 10 percent, over the second-quarter 2016 distribution. Since the partnership's initial public offering in October ... 
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07/13/17MPLX LP to announce 2017 second-quarter financial results July 27
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, July 13, 2017 - MPLX LP (NYSE: MPLX) a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call Thursday, July 27, at 11 a.m. EDT to discuss 2017 second-quarter financial results, which will be released earlier that day, and to provide an update on partnership operations. MPLX participants will be Gary R. Heminger, chairman and chief executive officer; Michael J. Hennigan, president; Pamela K.M. Beal... 
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07/06/17Utica Build-Out Projects Begin Operations, Provide Connectivity to Midwest Refineries
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, July 6, 2017 - MPLX LP (NYSE: MPLX) President Michael J. Hennigan today announced that MPLX's Utica Build-Out projects, including the newly constructed Harpster to Lima Pipeline, are now fully operational. "The Utica Build-Out projects are part of MPLX's commitment to provide cost-effective industry solutions through expansion of existing pipelines and construction of new pipelines to meet the needs of Utica and Marcellus shale producers," said Hen... 
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06/19/17Marathon Petroleum Corp. and MPLX to present at J.P. Morgan Energy Equity Conference June 26
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, June 19, 2017 - Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and CEO Gary R. Heminger will deliver a presentation on MPC and its master limited partnership MPLX LP (NYSE: MPLX) to investors and industry analysts on Monday, June 26, at the J.P. Morgan 2017 Energy Equity Conference in New York City. Heminger's presentation is scheduled to begin at 1:40 p.m. ET. The live webcast and archived presentation can be viewed on Marathon Petroleum... 
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05/30/17Marathon Petroleum Corp. names Donald C. Templin president; MPLX LP appoints Michael J. Hennigan president
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, May 30, 2017 - Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and CEO Gary R. Heminger today announced changes to the company's executive team.  Donald C. Templin, president of the general partner of MPLX LP (NYSE: MPLX), has been named president, Marathon Petroleum Corp., effective July 1. Templin joined MPC in June 2011, as senior vice president and chief financial officer before being named executive vice president, Supply, Transportat... 
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05/25/17MPLX LP to present at MLPA 2017 Investor Conference
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, May 25, 2017 - On Thursday, June 1, MPLX LP (NYSE: MPLX) President Donald C. Templin will deliver a presentation to investors and industry analysts at the MLPA (Master Limited Partnership Association) 2017 MLP Investor Conference in Orlando, Florida. Templin's presentation is scheduled to begin at 10:15 a.m. EDT. The live webcast and archived presentation can be viewed on MPLX's Investor Relations website, http://ir.mplx.com. The archived webcast a... 
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04/27/17MPLX LP Reports First-Quarter 2017 Financial Results
(GLOBE NEWSWIRE via COMTEX) --- Reported first-quarter net income of $150 million and adjusted EBITDA of $423 million - Reported first-quarter net cash from operating activities of $377 million and distributable cash flow of $354 million - Declared distribution of $0.540 per common unit, a 7 percent increase over first-quarter 2016 - Completed strategic transactions including the first of several planned dropdowns from its sponsor, Marathon Petroleum Corporation - Increased 2017... 
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04/26/17MPLX LP increases quarterly distribution
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, April 26, 2017 - MPLX LP (NYSE: MPLX) today announced that the board of directors of its general partner has declared a cash distribution of $0.54 per common unit for the first quarter of 2017. This represents an increase of $0.02 per unit, or 4 percent, over the fourth-quarter 2016 distribution, and an increase of $0.035 per unit, or 7 percent, over the first-quarter 2016 distribution. Since the partnership's initial public offering in October 2012, ... 
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04/04/17MPLX LP to announce 2017 first-quarter financial results April 27
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, April 4, 2017 - MPLX LP (NYSE: MPLX) a master limited partnership sponsored by Marathon Petroleum Corp. (NYSE: MPC), will host a conference call Thursday, April 27, at 11 a.m. EDT to discuss 2017 first-quarter financial results, which will be released earlier that day, and to provide an update on partnership operations. MPLX participants will be Gary R. Heminger, chairman and chief executive officer; Donald C. Templin, president; Pamela K.M. Beall,... 
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03/15/17Marathon Petroleum Corp. and MPLX LP announce executive retirement
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03/01/17MPLX LP 2016 K-1 tax packages now available on company website
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03/01/17MPLX LP subsidiary closes purchase of Ozark Pipeline
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03/01/17Marathon Petroleum Corp. drops down terminal, pipeline and storage assets to MPLX for $2 billion
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02/24/17MPLX LP files 2016 Form 10-K
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02/15/17MPLX LP announces joint-venture investment in Bakken Pipeline system
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02/13/17MPLX LP subsidiary to purchase Ozark Pipeline
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02/06/17MPLX LP Announces Formation of Strategic Joint Venture with Antero Midstream Partners LP
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01/30/17MPLX names Peter Gilgen vice president and treasurer
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01/25/17MPLX LP increases quarterly distribution
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01/11/17MPLX LP to announce 2016 fourth-quarter and full-year financial results Feb. 1
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01/03/17MARATHON PETROLEUM CORPORATION PROVIDES UPDATE ON STRATEGIC ACTIONS TO ENHANCE SHAREHOLDER VALUE
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