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Thursday, August 3, 2017

MPLX Sees Utica Decline, Marcellus on the Rise

From Seeking Alpha's transcript of MPLX's 2nd-quarter earnings call:
Great to hear. And thank you for that. And just as my follow-up, I want to pivot towards the processing volumes in the northeast. It seems like Marcellus came in pretty strong, but it looks like Utica declined a bit there. It's weaker than what we were expecting. Seneca kind of dipped down here. And I was just wondering if you could provide more color on some of the drivers there? 
Mike Hennigan 
Yes, first off on the Marcellus, you hit it on the head, very bullish. Our Sherwood Complex was full in the quarter as we expected. Sherwood VIII is ramping up pretty rapidly. We expect that to be coming on into a full mode pretty soon. So overall, very bullish about what's happening there. 
But you're right also, we had some declines in the Utica area. Overall, there's a couple of dynamics occurring there. One is some of the activity is related towards the dry gas area getting ready for Rover's start-up for when that comes online. But overall, there's also been some shifting from dry to wet. And you hit it on the head, Utica's down a little bit, Marcellus up a little bit. But we're pretty bullish about Marcellus going forward.
Read the whole earnings call transcript by clicking here. 

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