#United States #Houston #MPLX #Energy Acquisition #Harvest Midstream

Harvest Midstream Completes Landmark Acquisition

In a strategic move signalling growth in the U.S. energy sector, Harvest Midstream has officially concluded its $1 billion acquisition from MPLX LP, following a long-awaited announcement. This transaction, which centers around the extensive natural gas gathering and processing assets located primarily in the Uinta and Green River basins across Wyoming, Utah, and Colorado, marks a major milestone for Harvest.

Expansion of Operations

Harvest Midstream is now set to enhance its national footprint significantly. The newly acquired assets include a sprawling network of approximately 700 miles of gas gathering pipelines and processing capabilities that can handle about 345 million cubic feet per day at the Ironhorse and Stagecoach facilities in the Uinta Basin. Additionally, the Green River Basin system boasts around 800 miles of pipelines and a processing capacity of 500 million cubic feet per day available through the Blacks Fork and Vermilion plants, along with a fractionation capacity of 10,000 barrels per day.

Jason C. Rebrook, the CEO of Harvest, remarked, "This deal is about growth through action. We are expanding where it matters most — in the heart of America's energy production." This acquisition is not just a number on paper; it represents Harvest's commitment to facilitating energy production in regions critical to both local and national markets.

Strengthening Position in the Market

By successfully completing this transaction, Harvest Midstream reinforces its position as one of the largest privately held midstream companies in the U.S. The company aims to validate its operational excellence while ensuring reliable service for existing customers while expanding into new markets.

Previously, Harvest has broadened its horizons significantly through strategic acquisitions aimed at increasing its capabilities and market presence. This latest acquisition aligns with their ambitious plans to enhance infrastructure and service capabilities across multiple U.S. energy basins, reaffirming their role as a crucial partner in energy production and delivery.

Future Prospects

With the integration of these new assets, Harvest Midstream is poised to maintain seamless operations while simultaneously pursuing growth in key U.S. energy regions. The acquisition comes amidst a dynamic energy landscape where the demand for natural gas continues to grow, and companies are challenged to enhance their infrastructure to meet this demand.

Through disciplined execution and a focus on operational excellence, Harvest is dedicating itself to a future that prioritizes efficiency and productivity in energy delivery. As part of this mission, the company plans to continue exploring additional acquisition opportunities that could further enhance its capabilities and market role.

As Harvest Midstream embarks on this new chapter, their commitment to innovation and expansion sets a promising trajectory for the company and the energy sector as a whole. With ongoing developments expected in the coming months, stakeholders and industry analysts will be watching closely to see how this acquisition transforms Harvest’s operational landscape and market position.

About Harvest Midstream

Based in Houston, Harvest Midstream operates as a rapidly expanding midstream service provider. The firm focuses on critical activities such as gathering, storage, transportation, treatment, and terminalling of both crude oil and natural gas. Over the recent years, Harvest has accelerated its growth through a series of strategic acquisitions, positioning itself as a vital infrastructure partner across several U.S. basins, including a significant consolidation in the Bakken and operations in Alaska. The company continues to be a significant player in the natural gas market, looking to assert its presence in key energy sectors across the nation.