Marathon Petroleum Corp. reports first-quarter 2021 results
May 4, 2021
Marathon Petroleum Corp. Reports First-Quarter 2021 Results PR Newswire …
Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion
April 30, 2018
Deal will create the largest U.S. refiner Marathon Petroleum Corp. (ticker: MPC) and Andeavor (ticker: ANDV) have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 billion and total enterprise value of $35.6 billion, based on MPC’s April 27, 2018, closing price of $81.43. ANDV shareholders
Marathon Petroleum Earns $3.43 Billion in 2017, $5.5 Billion MPLX Offering
February 6, 2018
Marathon Petroleum Corp. (ticker: MPC) earned $2.02 billion, or $4.09 per diluted share, in Q4 2017. This is significantly more than in Q4 2016, where the company had earnings of $227 million, or $0.43 per diluted share. FY 2017 earnings saw a significant increase as well – $3.43 billion, or $6.70 per diluted share. Compared to FY 2016’s $1.17 billion,
Rex Energy Announces New CFO
January 23, 2018
Marathon, TORC also announce changes Rex Energy Corporation (ticker: REXX) announced today that it has appointed Curt Walker, the company’s current chief accounting officer, to the position of CFO, effective immediately. Walker will be responsible for all financial, accounting and treasury functions, as well as other related duties. Walker has been the company’s chief accounting officer since May 2012. Prior
Enbridge and Spectra Energy Eliminate Incentive Distribution Rights
January 22, 2018
Enbridge Inc. (ticker: ENB) and Spectra Energy Partners, LP (ticker: SEP) announced today their execution of a definitive agreement resulting in Enbridge converting all of its incentive distribution rights (IDRs) and general partner (GP) economic interests in Spectra Energy Partners into 172.5 million newly issued SEP common units. As part of the transaction, all of the IDRs have been eliminated.
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
