Marathon Petroleum to acquire MarkWest

Marathon Petroleum Corp. is purchasing MarkWest Energy Partners LP for an estimated $15.6 billion.

According to Reuters, Marathon Petroleum is buying MarkWest through its pipeline unit, MPLX. Marathon Petroleum’s acquisition will create the fourth-largest master limited partnership in the U.S. at $21 billion.

According to a press release, MarkWest owns and operates midstream service businesses in several liquids-rich natural gas resource plays in the United States. Marathon Petroleum’s acquisition is expected to close in the fourth quarter this year.