Phillips 66, Permian Basin and NGL

Phillips 66 buying Permian Basin-focused natural gas liquids business for $2.2 billion
Houston-based Phillips 66 (NYSE: PSX) will buy the natural gas liquids business of a Texas-based midstream company for $2.2 billion in cash. The acquired businesses — EPIC Y-Grade GP LLC and EPIC Y-Grade LP — own various subsidiaries and long-haul NGL pipelines, fractionation facilities and distribution systems connected to the Permian Basin.
Phillips 66 to buy EPIC NGL in $2.2B deal to boost Permian midstream business
Phillips 66 (NYSE:PSX) said Monday it agreed to acquire long-haul natural gas liquids pipeline owner EPIC NGL LP for $2.2B in cash, in a deal to help the refiner boost its Permian Basin midstream business.
Phillips 66 Strikes $2.2 Billion EPIC NGL Deal to Boost Natural Gas Liquids Bet
(Reuters) - U.S. oil refiner Phillips 66 said on Monday it will acquire EPIC Y-Grade GP and EPIC Y-Grade in an all-cash deal for $2.2 billion. The transaction is expected to be immediately accretive to earnings per share upon close, it added.
Phillips 66 to grow Permian midstream business with EPIC NGL acquisition
"This transaction bolsters Phillips 66's position as a leading integrated downstream energy provider," said Mark Lashier, chairman and CEO of Phillips 66. "This transaction optimizes our Permian NGL value chain,
Phillips 66 to buy EPIC NGL for $2.2 billion in bid to boost Permian presence
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.
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