D.C. and Global Law Firm, Akin Gump recently represented oil giants MPLX LP in a transaction with Marathon Petroleum. Akin Gump is a leading global law office that specializes in oil and gas operations, transactions and technologies in its representations. The $2.015 Billion deal has huge implications for the petroleum industry. Here are some details from the announcement:
The assets involved in the transaction include 62 light-product terminals with approximately 24 million barrels of storage capacity; 11 pipeline systems consisting of 604 miles of pipeline; 73 tanks with approximately 7.8 million barrels of storage capacity; a crude oil truck unloading facility at MPC`s refinery in Canton, Ohio; and eight natural gas liquids storage caverns in Woodhaven, Michigan, with approximately 1.8 million barrels of capacity.
You can read the official Akin Gump announcement here.