Northwind Midstream Partners
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Northwind Midstream (Northwind Delaware Holdings LLC) was a midstream energy company providing sour gas gathering, treating, and processing services in Lea County, New Mexico, in the Northern Delaware Basin. Founded by private-equity firm Five Point Infrastructure in 2022, it solved a critical bottleneck — the lack of sour natural gas treating, acid-gas injection, and sequestration capacity that had restricted upstream development — and helped customers meet sustainability goals by capturing and sequestering CO2 from the gas stream. Its portfolio included over 200,000 dedicated acres, 200+ miles of gathering pipelines, and acid-gas injection wells. In 2025 it was acquired by MPLX LP for $2.375 billion in cash.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Founded
Five Point Infrastructure founded Northwind Midstream to develop, own, and operate sour gas infrastructure in Lea County, New Mexico, addressing a critical treating-capacity bottleneck in the Northern Delaware Basin.
- Acquired by MPLX
Five Point agreed to sell Northwind to MPLX LP for $2.375 billion in cash; the acquisition closed in September 2025, immediately accretive to MPLX's distributable cash flow.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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