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|MPLX Announces Binding Open Season for Wood River-to-Patoka Pipeline Expansion|
FINDLAY, Ohio, Aug. 1, 2017 - MPLX LP (NYSE: MPLX) today announced that its subsidiary Marathon Pipe Line LLC (MPL) has commenced a binding open season for the Wood River-to-Patoka pipeline. The binding open season allows interested shippers the opportunity to secure priority transportation service on the pipeline.
The binding open season commenced at 8 a.m. CT on Aug. 1, 2017, and will conclude at noon CT on Aug. 31, 2017.
"The MPLX Wood River-to-Patoka Expansion Project provides needed pipeline capacity for Mid-continent crude to Midwest markets via Patoka, Illinois, and creates additional throughput and revenue opportunities for MPLX," MPLX President Michael J. Hennigan said.
Open Season Process
All interested shippers should submit an executed Confidentiality Agreement to:
About Marathon Pipe Line LLC
About MPLX LP
Investor Relations Contacts:
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, statements with respect to forecasts regarding capacity, rates, incremental investment and timing for becoming operational for the opportunities discussed above, as well as MPLX's future growth and results of operations. You can identify forward-looking statements by words such as "anticipate," "assess," "estimate," "propose," "prospective," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the company and are difficult to predict. Factors that could impact the opportunities described above are: the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; continued/further volatility in and/or degradation of market and industry conditions; changes to the expected construction costs and timing of projects; completion of pipeline capacity by our competitors; the ability to obtain required regulatory approvals on a timely basis; the occurrence of an operational hazard or unforeseen interruption; and the factors set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2016, filed with the Securities and Exchange Commission (SEC). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPLX's Form 10-K could also have material adverse effects on forward-looking statements. Copies of MPLX's Form 10-K are available on the SEC website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.