Phillips 66 to grow Permian midstream business with EPIC NGL acquisition
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Phillips 66 is set to expand its Permian midstream business by acquiring EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP for $2.2 billion in cash.
January 07, 2025 | 12:00 am
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Phillips 66 is acquiring EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP for $2.2 billion, enhancing its midstream business in the Permian Basin.
The acquisition of EPIC Y-Grade will likely strengthen Phillips 66's position in the Permian Basin, a key area for oil and gas production. This strategic move is expected to enhance their midstream capabilities, potentially leading to increased revenues and market share.
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IMPORTANCE 90
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