MarkWest Energy – Oil & Gas 360

Former MarkWest CEO John M. Fox to Marathon and MPLX: Your Multiple is Over the Top

December 6, 2017

Stated target value to eliminate Incentive Distribution Rights (IDRs) is in question: Fox says that Marathon Petroleum’s 15x – 20x multiple for elimination of IDRs will damage MPLX unitholders, including MPC, the largest MPLX unitholder John M. Fox, co-founder and former chairman, president and CEO of MarkWest Energy Partners, yesterday published two letters directed towards the MPLX GP LLC Conflicts

U.S. Refinery Capacity Breaks 1981 Record: EIA - Oil & Gas 360

Fox to Marathon: Don’t Put MPLX in the Penalty Box

January 30, 2017

MarkWest Co-Founder John Fox confirms stance that Marathon Petroleum should eliminate IDRs before refinery dropdowns John M. Fox, co-founder and former chairman and CEO of MarkWest Hydrocarbon, which merged with Marathon Petroleum’s MPLX LP (ticker: MPLX) in December 2015, issued a press release today reaffirming his stance against Marathon Petroleum Company’s (ticker: MPC) proposed January 3, 2017 plan. Fox said

MPLX LP Pulls Back the Reins, Cuts Dividend Growth in Half

February 3, 2016

Just 63 days after the close of a transformative purchase of MarkWest Energy Partners, Marathon Petroleum, the General Partner of MPLX LP (ticker: MPLX), is downwardly adjusting its dividend growth plan for the MLP – plans that it made public during the company’s Analyst Day presentation on December 3, 2015. MPLX, the limited partner of Marathon Oil Corporation (ticker: MPC),

MarkWest Energy: Anatomy of a Bad Deal

December 2, 2015

MarkWest Energy: Sold. “For Pennies on the Dollar.” Unitholders Say “No” on Management Bonus Payments MarkWest Energy Partners (ticker: MWE) distributed a news release announcing that unitholders approved the merger with MPLX (ticker: MPLX), an MLP created by Marathon Petroleum (ticker: MPC). From the MarkWest news release: “Based on the voting results, approximately 80 percent of the units voted at

Marathon Petroleum had Competitors for MarkWest

August 24, 2015

Via Columbus Business Journal Marathon Petroleum had 2 competitors for MarkWest, filing reveals New details from a Marathon Petroleum Corp. subsidiary reveal two other companies were fighting for the rights to acquire MarkWest Energy Partners, a $2.01 billion oil and gas company with strong exposure in eastern Ohio. MarkWest and Marathon spent all of 2014 discussing a joint venture and

MLP of Marathon Petroleum Acquires MarkWest Energy Partners for $20 Billion

July 13, 2015

Combined Companies will Create Fourth Largest MLP MPLX LP (ticker: MPLX), the master limited partnership (MLP) vehicle of Marathon Petroleum (ticker: MPC), has announced the oil and gas industry’s third-largest acquisition to date in 2015. According to news releases from the three companies involved, MPC and MPLX have signed a definitive agreement to acquire MarkWest Energy Partners LP (ticker: MWE)

MarkWest Continues Growth Plans Despite Lower Prices

June 22, 2015

$1.5 to $1.9 billion in 2015 growth capital Denver based MarkWest Energy Partners LP (ticker: MWE) remains focused on growth, even as oil prices remain low. A recent presentation from the company says the company currently has 20 major projects under construction, and forecasts $1.5 to $1.9 billion in capital investment for 2015. The company’s focus on pipelines and associated

MarkWest Energy Partners Adjusts Near-Term Plans in 2015 Analyst Day

June 4, 2015

Maintains 10% CAGR Distribution Through 2020 MarkWest Energy Partners (ticker: MWE), one of the largest Master Limited Partnerships (MLP) in the oil and gas industry, outlined its near-term plans in its 2015 Analyst Day on June 3. The Denver-based midstream provider is the second largest gas processor in the United States and has nearly 4,700 miles of pipeline in its

MarkWest to Provide Services for Cimarex and Chevron in the Permian

June 2, 2015

MarkWest Energy Partners Announces New Commercial Agreements to Provide Processing Services for Cimarex and Chevron in the Permian Basin MarkWest Energy Partners, L.P. (MWE) (“MarkWest”) announced today the completion of long-term, fee-based agreements to support producer development in the Delaware Basin of West Texas. Under terms of the agreements, MarkWest will install a 200 million cubic feet per day cryogenic

MarkWest Increases Distribution

February 25, 2015

MarkWest plans on increasing distribution thru 2020 During the company’s conference call today, Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners (ticker: MWE) announced that MWE expects to increase its distribution to approximately $3.70 for this year, $0.16 (or 4.5%) more than the company’s distribution in 2014. Mr. Semple also said that MarkWest expects to continue increasing

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