Berg Sansavero's questions to MPLX LP (MPLX) leadership • Q1 2025
Question
Berg Sansavero of Wolfe Research asked if the recent BANGL buyout, new fractionators, and export project provide sufficient scale in the NGL value chain, or if more acquisitions are needed. He also questioned how contracted the frac and export projects are with MPC and who is responsible for marketing the ethane.
Answer
President and CEO Maryann Mannen stated that full ownership of BANGL is a critical link in its integrated NGL value chain but affirmed that the company will continue to evaluate further growth opportunities. SVP Shawn Lyon highlighted the strong growth profile of the BANGL pipeline. On the second question, Maryann Mannen confirmed MPLX will be responsible for marketing the ethane, while MPC will have a contract for the C3+. EVP and Chief Commercial Officer Gregory Floerke added that MPLX has plenty of offtake options for ethane near its planned facilities.