Houston-based Phillips 66 said last week it completed the previously announced acquisition of EPIC Y-Grade GP and EPIC Y-Grade for $2.2 billion. The EPIC NGL assets include two fractionators in Corpus Christi with a combined capacity of 170,000 b/d, 350 miles of purity distribution pipelines, and an 885-mile NGL pipeline with capacity of 175,000 b/d from Delaware and Midland basins and Eagle Ford to Phillips 66’s Sweeny hub. A project is underway to expand it to 225,000 b/d by 20252Q.
The assets link Permian production to Gulf Coast refiners, petrochemical companies and export markets while also integrating the existing Phillips 66 assets.
Don Baldridge, executive vice president, said April 1, “Phillips 66 will offer producers unparalleled flow assurance while advancing a strategy that is expected to deliver attractive returns and create long-term value.”