Phillips 66 Finalizes $2.2 Billion EPIC NGL Deal, Adding 885 Miles of Pipeline
(P&GJ) — Phillips 66 has completed its $2.2 billion acquisition of EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP, adding significant midstream infrastructure to its portfolio, the company announced Tuesday.
The acquired assets include two natural gas liquids (NGL) fractionators with a combined capacity of 170,000 barrels per day (bpd) near Corpus Christi, Texas; about 350 miles of purity product pipelines; and an 885-mile NGL pipeline transporting 175,000 bpd from the Delaware, Midland and Eagle Ford basins to the Gulf Coast.
RELATED: EPIC Y-Grade Completes NGL, Ethane Pipeline System from Corpus Christi to Sweeny, Texas
“This transaction strengthens our position as a leading integrated downstream energy provider,” said Don Baldridge, executive vice president of Midstream & Chemicals. “Phillips 66 will offer producers unparalleled flow assurance, while advancing a strategy that is expected to deliver attractive returns and create long-term value for our shareholders.”
An expansion project to boost the EPIC pipeline’s capacity from 175,000 to 225,000 bpd is expected to be completed in the second quarter. A second phase of expansion, increasing capacity to 350,000 bpd, is scheduled for completion in late 2026.
Phillips 66 said the deal supports its broader strategy of integrating Permian Basin production with its existing infrastructure along the Gulf Coast, including refineries, petrochemical facilities and export terminals.
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