Phillips 66 completes $2.2-billion acquisition of EPIC Y-Grade assets

HOUSTON, April 2, 2025 – Phillips 66 has completed its USD 2.2-billion acquisition of EPIC Y-Grade GP and EPIC Y-Grade, gaining control of NGL pipelines, fractionation facilities and distribution systems, the company said on Wednesday.

The acquired assets include two fractionators near Corpus Christi, Texas, with a combined capacity of 170,000 bpd, around 560 kilometres of purity distribution pipelines and an around 1,425-kilometre NGL pipeline connecting production from the Delaware, Midland and Eagle Ford basins to fractionation complexes and the Phillips 66 Sweeny Hub.

“This transaction bolsters Phillips 66’s position as a leading integrated downstream energy provider,” Phillips 66 chairman and CEO Mark Lashier said.

“This transaction optimises our Permian NGL value chain, allows Phillips 66 to provide producers with comprehensive flow assurance, reaching fractionation facilities near Corpus Christi and Mont Belvieu.”

An expansion project to increase pipeline capacity from 175,000 bpd to 225,000 bpd is expected to be completed in the second quarter, with a second expansion to 350,000 bpd anticipated by the fourth quarter of 2026.

Phillips 66 highlighted the strategic importance of these assets in connecting Permian Basin production to Gulf Coast refiners, petrochemicals companies and export markets, noting their integration with the company’s existing infrastructure.

Phillips 66 is a diversified energy manufacturing and logistics company. It operates in segments including midstream, chemicals, refining and marketing and speciality products, with a strong focus on providing energy solutions and enhancing shareholder value.

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