#United States #Houston #MPLX LP #Harvest Midstream #Gathering Assets

Harvest Midstream Accelerates Its Growth with $1 Billion Acquisition

In a landmark move set to reshape its operational capabilities, Harvest Midstream has announced a significant acquisition worth $1 billion from MPLX LP. This deal, exchanging hands via a purchase and sale agreement, focuses on the extensive natural gas gathering and processing assets located in the Uinta and Green River basins spanning Wyoming, Utah, and Colorado. The completion of this transaction is anticipated in the fourth quarter of 2025, further establishing Harvest as a premier player in the midstream sector.

The CEO of Harvest, Jason C. Rebrook, expressed enthusiasm regarding this acquisition, stating that it represents not just a financial transaction but the initiation of a new chapter in Harvest’s growth strategy. "This acquisition is the beginning of the next chapter of Harvest's ambitious and disciplined growth story," he emphasized. The strategic focus aims to build a robust midstream network that can sustain America’s energy demands for the foreseeable future.

What the Acquisition Entails

The specifics of the assets in the Uinta Basin include around 700 miles of gas gathering pipelines, with a processing capacity of approximately 345 million cubic feet per day at the Ironhorse and Stagecoach processing facilities. Significant expansion on these facilities is already in progress, confirming Harvest’s commitment to enhancing operational efficiency. Meanwhile, the assets in the Green River Basin cover approximately 800 miles of gathering and transportation pipelines along with a processing capacity exceeding 500 million cubic feet per day from the Blacks Fork and Vermilion facilities. Additionally, these assets provide a fractionation capacity of 10,000 barrels per day. The acquisition will tremendously strengthen Harvest’s operational footprint in these critical regions, enabling greater connectivity across major production bases.

Following the closure of the deal, Harvest Midstream will instantly take full operational charge, ensuring seamless service for current customers. The firm is poised to leverage its operational expertise and agility to deliver sustained value moving forward.

The Bigger Picture for Harvest Midstream

Headquartered in Houston, Harvest Midstream operates as a privately held midstream service entity focused on the gathering, storage, transportation, and processing of crude oil and natural gas. In recent years, the company has actively pursued growth opportunities through strategic acquisitions, which fortify its position across various U.S. basins, including a notable footprint in the Bakken region and expansions in Alaska.

“Our ongoing mission is to develop a resilient, diversified midstream enterprise that can adapt to future energy needs,” Rebrook added. As Harvest Midstream embarks on this significant acquisition journey, it positions itself not only as a critical player in the energy infrastructure landscape but also as a company keen on embracing opportunities that contribute to sustainable growth.

Investors and market followers will be closely watching how this acquisition unfolds and its implications for the future trajectory of Harvest Midstream. As the company gears up to integrate these assets, the impact on both operational scale and financial performance remains a focal point for stakeholders.

With each strategic move, Harvest Midstream continues to demonstrate its commitment to building a robust energy framework that not only fulfills current market demands but also prepares for the energy challenges of the coming decades.