(Source: Shutterstock.com)
An MPLX subsidiary closed on a deal for Whiptail Midstream’s San Juan Basin assets, Whiptail announced May 9.
The $237 million deal was announced in March and consists of gathering systems for crude, gas and water in the U.S. Four Corners region that serve the Gallup oil play.
Whiptail’s assets include approximately 500 miles of pipeline that transport crude oil, natural gas and water production in the San Juan Gallup oil play.
Whiptail Midstream is a portfolio company of I Squared Capital, an independent global infrastructure investment management company. Evercore acted as Whiptail’s financial adviser, with legal counsel provided by Sidley Austin.
MPLX and I Squared were part of another major deal that was announced the same week. On May 6, I Squared bought a 65% stake in the Matterhorn Express Pipeline in Texas. MPLX, one of the members of the joint venture that owns the pipeline, increased its stake from 5% to 10%.
Recommended Reading
Paisie: How Spiraling Iran Conflict Could Jolt Oil Prices
2025-06-13 - A desperate Iran could disrupt the flow of oil in the Strait of Hormuz, which would boost prices, says Stratas Advisors.
Venture Global Shifts from Delta LNG to Focus on Other Projects
2025-06-13 - Venture Global says it can expand existing sites—such as Plaquemines LNG—faster than building a new one.
Japan Utility JERA Deepens US LNG Ties with Four Deals in Two Weeks
2025-06-12 - JERA, Japan’s largest power generator, has announced four deals for up to 5.5 mtpa of LNG with Sempra, Commonwealth LNG, Cheniere and NextDecade that could nearly double the country’s LNG trade with the U.S.
Bechtel Inks $9B in Contracts for NextDecade’s Rio Grande LNG Trains
2025-06-12 - NextDecade Corp. finalized contracts with Bechtel Energy for construction of Rio Grande Trains 4 and 5, which are awaiting final investment decisions.
Triple-Digit US NatGas Storage Injections Hit Seventh Straight Week
2025-06-12 - Producers have injected more than 100 Bcf into storage for seven straight weeks, a streak that has only been matched one other time in the EIA's records.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.