Five Point Infrastructure Partners is reportedly in advanced discussions to divest Northwind Midstream Partners to MPLX in a transaction valued at approximately $2.3bn, including debt, according to a report by Reuters, citing sources familiar with the matter.
Northwind, a Permian Basin-focused natural gas infrastructure platform, was established by Five Point in 2022. The company operates an integrated midstream network comprising pipelines, compressor stations, and gas treatment infrastructure in southeast New Mexico.
The prospective sale follows an earlier Reuters report in May, which noted Five Point had initiated a process to explore strategic alternatives for Northwind, with expected valuations in excess of $2bn. While discussions are said to be progressing, Bloomberg notes that terms are not finalised and talks could still be delayed or fall through.
The potential deal aligns with a broader wave of consolidation across the US midstream sector, where operators are seeking scale efficiencies, access to high-yield basins, and strategic growth through bolt-on acquisitions.
MPLX has been active in this trend. In February, the company announced the acquisition of the remaining 55% stake in the BANGL natural gas pipeline from affiliates of WhiteWater and Diamondback Energy for $715m, further deepening its footprint in the Permian.
All parties declined to comment on the reported negotiations.
