v3.26.1
Investments and Noncontrolling Interests
6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments and Noncontrolling Interests Equity Method Investments
The following table presents MPLX’s equity method investments at the dates indicated:
Ownership as ofCarrying value at
June 30,June 30,December 31,
(In millions, except ownership percentages)VIE202620262025
Crude Oil and Products Logistics
Illinois Extension Pipeline Company, L.L.C.35%$220 $208 
LOOP LLC41%304 313 
MarEn Bakken Company LLC(1)
25%492 502 
Other(2)
X
17 - 67%
558 558 
Total Crude Oil and Products Logistics
1,574 1,581 
Natural Gas and NGL Services
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C.X67%396 407 
MarkWest Utica EMG, L.L.C.X62%957 890 
Ohio Gathering Company L.L.C.(3)
X31%425 444 
Sherwood Midstream LLCX50%468 475 
MXP Parent, LLC10%242 198 
Texas City Logistics LLCX50%316 163 
WPC Parent, LLC30%272 273 
Other(2)
X
10 - 51%
499 367 
Total Natural Gas and NGL Services
3,575 3,217 
Total$5,149 $4,798 
(1)    The investment in MarEn Bakken Company LLC includes our 9.19 percent indirect interest in a joint venture (“Dakota Access”) that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects (collectively, the “Bakken Pipeline system”).
(2)    Included within Other are certain equity method investments that have been deemed to be VIEs.
(3)    MPLX also holds a 43 percent indirect interest in Ohio Gathering Company L.L.C. through our ownership interest in MarkWest Utica EMG, L.L.C.
For those entities that have been deemed to be VIEs, neither MPLX nor any of its subsidiaries have been deemed to be the primary beneficiary due to voting rights on significant matters. While we have the ability to exercise influence through participation in the management committees, which make all significant decisions, we have equal influence over each committee as a joint interest partner and all significant decisions require the consent of the other investors without regard to economic interest. As such, we have determined that these entities should not be consolidated and applied the equity method of accounting with respect to our investments in each entity.
MPLX’s maximum exposure to loss as a result of its involvement with equity method investments generally includes its equity investment, any additional capital contribution commitments and any operating expenses incurred by the subsidiary operator in excess of its compensation received for the performance of the operating services. MPLX did not provide any financial support to equity method investments that it was not contractually obligated to provide during the six months ended June 30, 2026 and June 30, 2025. See Note 17 for information on our guarantees related to equity method investees.