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Texas oil biz hits new high as Permian Basin booms

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(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE:PSX) announced today that it has entered into a definitive agreement to buy EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, which own various subsidiaries and long haul natural gas liquids pipelines, fractionation facilities and distribution systems (“EPIC NGL”) for total cash consideration of $2.2 billion, subject to customary purchase price adjustments. Upon closing, this transaction is ex

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Phillips 66 to grow Permian midstream business with EPIC NGL acquisition – Oil & Gas 360

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Seeking Alpha

Phillips 66 to buy EPIC NGL in $2.2B deal to expand Permian presence

The $2.2 billion purchase comprises NGL pipelines, fractionation facilities and distribution systems.

Rigzone

Phillips 66 to Acquire Midstream NGL Assets in Permian from EPIC

(Reuters) -U.S. oil refiner Phillips 66 said on Monday it would acquire various pipelines and distribution systems from Ares-backed EPIC NGL in an all-cash deal for $2.2 billion, as it seeks to expand its Permian presence. The U.S. shale industry has witnessed a record-breaking wave of dealmaking in the recent past, as energy companies have rushed to expand oil and gas drilling inventories, especially in the Permian Basin oil field. Phillips 66 …

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Phillips 66 to buy EPIC NGL for $2.2 billion in bid to boost Permian presence - Blue Water Healthy Living

ODESSA, Texas--(BUSINESS WIRE)--Jan 7, 2025-

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Energy Titans to Headline 2025 Permian Basin Water in Energy Conference

Houston-based oil refiner Phillips 66 has announced a $2.2 billion acquisition of pipeline assets from EPIC, a Texas-based midstream service provider. The post Phillips 66 expands pipeline capability with $2.2B deal first appeared on The Journal Record.

The Journal Record

Phillips 66 expands pipeline capability with $2.2B deal

Phillips 66 will buy EPIC’s NGL assets, including a 175,000 bbl/d pipeline that links production supplies in the Delaware and Midland basins and the Eagle Ford Shale to Gulf Coast fractionation complexes.

Hart Energy

Phillips 66 Buys EPIC’s Permian NGL Midstream Assets for $2.2B

U.S. oil refiner Phillips 66 said on Monday it would acquire various pipelines and distribution systems from Ares-backed EPIC NGL in an all-cash deal for $2.2 billion, as it seeks to expand its Permian presence. The U.S. shale industry has witnessed a record-breaking wave of dealmaking in the recent past, as energy companies have rushed ...

Energy News for the United States Oil & Gas Industry | EnergyNow.com

Phillips 66 to Buy EPIC NGL for $2.2 Bln in Bid to Boost Permian Presence - Energy News, Top Headlines, Commentaries, Features & Events

Phillips 66 has signed a deal to acquire EPIC Y-Grade GP LLC and EPIC Y-Grade LP for $2.2 billion, expanding its midstream footprint in the Permian Basin. The two, part of EPIC Consolidated Operations LLC, own natural gas liquids (NGL) pipelines, fractionation facilities and distribution systems. “This transaction bolsters Phillips 66’s position as a leading integrated downstream energy provider”, Phillips 66 chair and chief executive Mark Lashi…

Texas oil biz hits new high as Permian Basin booms

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