Phillips 66 completes EPIC NGL acquisition for $2.2bn [Yahoo! Finance]
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Yahoo! Finance
natural gas liquids pipelines, fractionation facilities and distribution systems (EPIC NGL), for $2.2bn. Phillips 66 signed a definitive agreement for the acquisition in January this year. The EPIC NGL assets include two fractionators with a combined capacity of 170,000 barrels per day (bpd), located near Corpus Christi, Texas, along with 350 miles of purity distribution pipelines. The assets also include an 885-mile natural gas liquids (NGL) pipeline with a capacity of 175,000bpd. The pipeline plays a crucial role in transporting NGL from production areas in the Delaware, Midland and Eagle Ford basins to key fractionation complexes and the Phillips 66 Sweeny Hub. An ongoing expansion project is set to increase the NGL pipeline's capacity from 175,000bpd to 225,000bpd by the second quarter (Q2) of this year. Furthermore, a second expansion has been approved to boost the capacity to 350,000bpd, with completion targeted for Q4 2026. These assets link Permian production to
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News
- Phillips 66 CEO: Major Pipeline Project Has Broad Support [Yahoo! Finance]Yahoo! Finance
- Phillips 66 Sets $2.4 Billion Capital Budget for 2026 [Yahoo! Finance]Yahoo! Finance
- Phillips 66 announces 2026 capital budget [Yahoo! Finance]Yahoo! Finance
- Phillips 66 announces 2026 capital budgetBusiness Wire
- Investors in Phillips 66 (NYSE:PSX) have seen stellar returns of 157% over the past five years [Yahoo! Finance]Yahoo! Finance
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