MPLX to Acquire Northwind Delaware Holdings from Five Point Infrastructure for $2.375B 

Five Point Infrastructure LLC has agreed to sell Northwind Delaware Holdings LLC to MPLX LP for $2.375 billion in cash, in a transaction that underscores growing demand for specialized midstream infrastructure in high-growth shale regions. The deal is expected to close in the third quarter of 2025. 

Founded by Five Point in 2022, Northwind operates a critical sour gas gathering and processing platform in Lea County, New Mexico, addressing a long-standing bottleneck in the Northern Delaware Basin. The company provides sour gas gathering, treating, and processing services, including acid gas injection (AGI) and carbon sequestration, which are essential for continued upstream development in a region constrained by limited treating and sequestration capacity. 

Northwind’s infrastructure portfolio includes over 200,000 dedicated acres, more than 200 miles of gathering pipelines, and two in-service AGI and carbon sequestration wells with a combined capacity of 20 MMcf/d. A third permitted well, expected to be operational in 2026, will bring total capacity to 37 MMcf/d. 

“This transaction is a clear validation of our investment thesis regarding the need for critical infrastructure development across the nation’s most productive energy basins,” said David Capobianco, CEO and Managing Partner of Five Point Infrastructure. 

The acquisition will enhance MPLX’s presence in the Permian Basin and support the company’s strategy of expanding its integrated midstream footprint. 

Piper Sandler & Co. served as exclusive financial advisor to Five Point Infrastructure, while Latham & Watkins LLP acted as legal counsel on the transaction.