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    Neel Mitra • Bank of America

    Neel Mitra's questions to MPLX LP (MPLX) leadership

    Neel Mitra's questions to MPLX LP (MPLX) leadership • Q4 2024

    Question

    Neel Mitra asked how MPLX successfully commercialized a greenfield export facility against established competitors and whether the project is fully committed or awaiting further contracts. He also inquired about the expected mix of term versus spot sales.

    Answer

    SVP David Heppner credited the joint venture with ONEOK for providing world-class scale and capital efficiency, confirming the project is fully FID'd. He explained each partner controls 50% of the dock capacity, with MPLX contracting its share to MPC. President and CEO Maryann Mannen added that MPC's existing strength in export markets provides high confidence in marketing the volumes.

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    Neel Mitra's questions to Kinetik Holdings Inc (KNTK) leadership

    Neel Mitra's questions to Kinetik Holdings Inc (KNTK) leadership • Q3 2024

    Question

    Neel Mitra inquired about the margin impact from sour gas and CO2 treating, its effect on Kinetik's competitive positioning, and the requirements for a potential EPIC Crude pipeline expansion.

    Answer

    President and CEO Jamie Welch detailed the significant margin premium for sour gas processing (around $1.80/Mcf) compared to sweet gas ($1.00-$1.10/Mcf). Regarding the EPIC pipeline, Welch stated an expansion is a matter of 'when, not if,' contingent on securing more long-term firm contracts to replace shorter-term agreements, highlighting Diamondback's recent commitment as a key step.

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