Houston-based Harvest Midstream has signed a $1 billion purchase agreement to acquire MPLX's extensive natural gas gathering and processing network across the Uinta and Green River basins, marking the company's first major investment in Wyoming.
The deal announced this week represents a significant expansion for the privately held midstream company into Wyoming's energy-rich corridors.
The transaction includes about 1,500 miles of pipelines and processing facilities with a combined capacity of 845 million cubic feet per day across Wyoming, Utah and Colorado. The sale is expected to close in the fourth quarter of 2025.
"Harvest's acquisition of MPLX's Wyoming assets represents a long-term commitment to the people and communities of this state," Harvest Midstream CEO Jason C. Rebrook said in a statement to Cowboy State Daily. "These assets are critical to safely and efficiently moving the resources that power homes, businesses and industries across the region.
"By investing here, we're not only strengthening Wyoming's energy infrastructure but also supporting local jobs, generating tax revenue and ensuring continued reliable service."
The acquisition shows regional shifts for both Harvest and MPLX, said Rob Godby, professor of energy economics at the University of Wyoming.
He told Cowboy State Daily the deal reflects strategic portfolio adjustments by both companies.
"Seeing that MPLX has been busy acquiring assets that serve the Gulf (of Mexico), and it seems this is a way to rebalance their portfolio and possibly any debt associated with the earlier transactions by reducing their western assets to focus more on the east," Godby said. "Similarly, it appears Harvest has taken advantage of this opportunity to consolidate and expand their Midwestern and Western assets."
A press release from MPLX noted the company’s returned focus to operations in Texas.
"Evaluating the competitive positioning of our portfolio is a strategic commitment," said Maryann Mannen, MPLX president and CEO. "The divestiture of these assets better positions our portfolio for growth, anchored in the Marcellus and Permian basins."
Energy Empire
Behind Harvest Midstream stands Texas billionaire Jeff Hildebrand, whose energy empire has made him one of America's wealthiest individuals.
The 66-year-old petroleum engineer founded Hilcorp Energy Co. in 1989 and built it into the largest privately held oil and gas exploration and production company in the U.S., according to profiles of Hildebrand in the oil and gas industry press.
Hildebrand, worth an estimated $10.2 billion according to Forbes, made his fortune through a contrarian investment strategy of acquiring mature oil and gas assets that major companies were abandoning, then using advanced technology and aggressive cost management to squeeze additional production from fields considered to be past their prime.
His approach of "zigging while the industry zags" has proven remarkably successful over three decades, reported industry news site Hart Energy.
The University of Texas geology graduate worked briefly at Exxon before earning a master's degree in petroleum engineering and founding Hilcorp with a partner in 1990.
He bought out his partner for $500 million in 2003 and has since built operations spanning nine states, including Alaska, where Hilcorp is now the state's largest gas producer.
In December 2015, his company made headlines by giving all 1,380 employees a $100,000 Christmas bonus after the company doubled its daily oil production to 150,000 barrels over five years, according to a 2017 profile by The Revelator.
Hilcorp has appeared on Fortune Magazine's "100 Best Companies to Work For" list multiple times.
Wyoming Investment
A Harvest Midstream spokesperson confirmed to Cowboy State Daily that the Wyoming acquisition represents the company's entry into the state.
However, the spokesperson said detailed employment and tax revenue figures aren't yet available because the company has just signed the purchase and sale agreement and will spend the remaining months of 2025 finalizing the details.
This includes outreach to current MPLX staff to see if they want to continue working on the pipeline network with Harvest Midstream.
The company plans to assume full operational control of the systems while maintaining uninterrupted service for existing customers. The spokesperson described the deal as part of Harvest's broader growth strategy, with the newly acquired Wyoming assets serving as a platform for future growth.
The Green River Basin pipeline network alone services multiple gas fields and includes approximately 800 miles of gathering and transportation pipelines.
Processing capacity includes 500 million cubic feet per day from the Blacks Fork and Vermilion facilities.
Meanwhile, the Uinta Basin facilities contribute about 700 miles of gas gathering pipelines and 345 million cubic feet per day of active processing capacity from the Ironhorse and Stagecoach facilities, with expansion work currently underway.
David Madison can be reached at david@cowboystatedaily.com.
