From Yahoo Finance: 2025-04-02 07:04:00

US energy company Phillips 66 has acquired EPIC Y-Grade GP and EPIC Y-Grade for $2.2bn, including assets like fractionators and NGL pipelines. The deal, signed in January, aims to enhance Phillips 66’s downstream energy capabilities. An expansion project will increase pipeline capacity to 225,000bpd by Q2 2022, with further expansion planned for 2026 to reach 350,000bpd.

The acquisition strengthens Phillips 66’s position in the energy sector, providing seamless delivery of products and connecting Permian production to Gulf Coast markets. The company aims to offer flow assurance to producers and create long-term value for shareholders. However, in 2024, Phillips 66 faced a setback when ordered to pay $604.9m in damages to Propel Fuels for trade secret misappropriation.

The deal is expected to bolster Phillips 66’s integrated downstream energy operations, expanding its portfolio and enhancing value for shareholders. The acquisition includes NGL assets like fractionators and pipelines, with ongoing and planned expansions to increase capacity. Despite a setback in 2024, Phillips 66 remains committed to providing energy products efficiently and creating long-term value.



Read more at Yahoo Finance: Phillips 66 completes EPIC NGL acquisition for $2.2bn