Phillips 66 explores selling its 25% stake in Rockies Express Pipeline for over $1B, including debt.
Phillips 66 considers selling its 25% stake in Rockies Express Pipeline for over $1 billion, including debt. The 1,700-mile interstate natural gas pipeline runs from Wyoming and Colorado to Eastern Ohio. Potential buyers include private equity firms and infrastructure funds. Phillips 66 aims for a premium over the stake's current book value of $451 million, with associated debt obligations of over $500 million.
March 26, 2024
9 Articles