Phillips 66
Phillips 66 Completes Acquisition of EPIC NGL for $2.2 Billion
Summary
On April 1, 2025, Phillips 66 announced the completion of its acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP for approximately $2.2 billion in cash. This acquisition includes various subsidiaries, long-haul natural gas liquids pipelines, fractionation facilities, and distribution systems, enhancing Phillips 66's position as a leading integrated downstream energy provider. The transaction is expected to deliver attractive returns and create long-term value for shareholders. An expansion project to increase the NGL pipeline capacity to 225 MBD is expected to be completed in the second quarter, with a further expansion to 350 MBD planned for the fourth quarter of 2026.
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About Phillips 66
Phillips 66 is a renowned American multinational energy company involved in refining, transporting, and marketing petroleum products. Engaging primarily as a downstream sector entity, Phillips 66 operates an extensive network of refineries, pipelines, and retail stations across the globe. The company's main function is to refine crude oil into marketable fuels such as gasoline, diesel, and jet fuel, as well as petrochemical products that serve as building blocks for various industrial applications. Additionally, Phillips 66 is known for its logistics and midstream operations, which include pipelines and trucking services that facilitate efficient energy distribution. The company plays a critical role in the energy sector, impacting industries ranging from transportation to manufacturing. By maintaining a strategic focus on safety, environmental stewardship, and operational excellence, Phillips 66 contributes significantly to the global energy supply chain. Established in 1875 and headquartered in Houston, Texas, Phillips 66 continues to provide essential energy solutions while adapting to evolving market dynamics and sustainability demands.
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