Harvest to acquire $1bn of midstream assets in Uinta, Green River basins

Harvest Midstream announced on August 27 that it had agreed to buy a gas-gathering and processing network spanning the Uinta and Green River Basins in Wyoming, Utah and Colorado from MPLX for $1bn.

According to the announcement, the Uinta Basin assets include around 700 miles (1,127 km) of gas-gathering pipelines. They also include roughly 345mn cubic feet (9.8mn cubic metres) per day of active gas-processing capacity at the Ironhorse and Stagecoach processing facilities, with “significant” expansion work currently underway, Harvest added.

Meanwhile, the Green River Basin assets service multiple gas fields in Wyoming and include roughly 800 miles (1,287 km) of gas-gathering and transportation pipelines. In addition, they include around 500 mmcf (14.2 mcm) per day of active gas-processing capacity from the Blacks Fork and Vermilion processing facilities and 10,000 barrels per day (bpd) of fractionator capacity.

Harvest said the addition of these assets would “significantly” expand its geographic reach, while also enhancing connectivity across major gas basins and creating “meaningful platforms” for future “organic and acquisition-driven growth”.

"This acquisition is the beginning of the next chapter of Harvest's ambitious and disciplined growth story," stated Harvest’s CEO, Jason Rebrook. "We are executing on a long-term vision to build a scaled, resilient midstream network capable of supporting America's energy needs for decades to come – and these premier MPLX assets fit squarely into that strategy.”

The transaction is expected to close in the fourth quarter of 2025 and Harvest described it as marking a “significant” milestone in its “continued evolution into one of the nation's leading privately held midstream companies”.

Harvest is owned by Jeff Hildebrand, who is also the founder of privately held Hilcorp Energy. Harvest’s midstream operations are located across a variety of regions including North Dakota’s Bakken play, as well as in Alaska.

In a separate announcement, MPLX said Harvest had contractually agreed to dedicate around 12,000 bpd of natural gas liquids (NGLs) from the assets included in the deal to MPLX for seven years from 2028. This will follow the expiration of a pre-existing commitment, MPLX noted.

"Evaluating the competitive positioning of our portfolio is a strategic commitment," stated MPLX’s president and CEO, Maryann Mannen. "The divestiture of these assets better positions our portfolio for growth, anchored in the Marcellus and Permian basins."

Indeed, the sale of the assets was announced during the same week that a joint venture in which MPLX is participating announced a final investment decision (FID) on the Eiger Express pipeline out of the Permian Basin.