MPLX’s primary business objectives are to enhance unitholder returns through the generation of stable cash flows. We intend to accomplish these objectives by executing the following strategies:
Maintain Long-Term Integrated Relationships with Our Producer Customers. We develop long-term integrated relationships with our producer customers. Our relationships are characterized by an intense focus on customer service and a deep understanding of our producer customers’ requirements coupled with the ability to increase the level of our midstream services in response to their midstream requirements. Through collaborative planning, we construct midstream infrastructure and provide unique solutions that are critical to the ongoing success of our producer customers’ development plans. As a result of delivering high-quality midstream services, MarkWest has been the top-rated midstream service provider since 2006 as determined by an independent research provider.
Increase Operating Cash Flow and Pursue Organic Growth Opportunities. We intend to increase operating cash flow by continuing to grow in our primary areas of operation to meet anticipated demand for additional midstream services. In addition, we intend to increase operating cash flow by evaluating and capitalizing on organic investment opportunities that may arise in our areas of operations and increasing the utilization of our existing facilities by providing additional services for new and existing customers. We will evaluate organic growth projects both within our geographic footprint as well as in new areas that we consider strategic. With the support of MPC as our sponsor, we have the ability to develop incremental infrastructure to support growth across the hydrocarbon value chain.
Grow through Acquisitions. In addition to the recently completed MarkWest Merger, we plan to continue pursuing acquisitions of complementary assets from MPC as well as third parties. We believe our sponsor will offer us the opportunity to acquire MLP-qualifying assets from its substantial portfolio of midstream assets. We may also pursue third party midstream acquisitions independently or with MPC that complement our existing geographic footprint or expand our activities into new areas.
Focus on Fee-Based Businesses. We are focused on generating stable cash flows by providing fee-based midstream services to our customers.
Sustain Long-Term Growth. Our goal is to maintain an attractive distribution growth profile over the long term. Since the Initial Offering, we have increased our distribution for 12 consecutive quarters, which represents a compound annual growth rate of 24 percent over the minimum quarterly distribution. We believe our growth plans along with the support of our sponsor provide multiple avenues to support our distribution growth profile over the long-term.
Maintain Safe and Reliable Operations. We believe that providing safe, reliable and efficient services is a key component in generating stable cash flows, and we are committed to maintaining and improving the safety, reliability and efficiency of our operations. We intend to continue promoting a high standard for safety and environmental stewardship.