MPC · 10-Q · 2026Q3 · Full report
St. Paul Park and Mandan Divestiture
Marathon Petroleum Corp · 2026-11-03 · Importance 59 · Surprise 60 · In source text
On November 2, 2026, MPC entered a definitive agreement to sell its St. Paul Park, Minnesota, and Mandan, North Dakota, refineries and related midstream assets for $4.2 billion in cash, subject to closing adjustments. The associated net assets had a carrying value of $1.8 billion as of September 30, 2026, and were reported in the Refining & Marketing and Midstream segments. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
Key facts
- Marathon Petroleum entered a definitive agreement on November 2, 2026, to divest its St. Paul Park, Minnesota and Mandan, North Dakota refineries and related midstream assets for $4.2 billion in cash, subject to closing adjustments. source
- Marathon Petroleum expects the St. Paul Park and Mandan divestiture to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals. source
- The net assets associated with the planned St. Paul Park and Mandan divestiture had a carrying value of $1.8 billion as of September 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | probable | +2.0% | Marathon Petroleum entered a definitive agreement on November 2, 2026, to divest its St. Paul Park, Minnesota and Mandan, North Dakota… |
| assets | negative | probable | — | Marathon Petroleum entered a definitive agreement on November 2, 2026, to divest its St. Paul Park, Minnesota and Mandan, North Dakota… |