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Marathon Petroleum (MPC) Earnings Transcript

MPLX acquired a Delaware Basin sour gas treating business and the remaining 55% interest in the BANGL NGL pipeline. These transactions further MPLX's growth profile. MPLX increased its distribution this quarter reflecting conviction in its growth outlook. We now expect to receive 2.8billionannuallyfromMPLX.MPLXcontinuestotargetadistributiongrowthrateof12.52.8 billion annually from MPLX. MPLX continues to target a distribution growth rate of 12.5% over the next couple of years, which would imply annual cash distributions to Marathon Petroleum Corporation of over 3.5 billion. We are ...