Phillips 66 acquires Pinnacle Midland Parent for $550M, expanding natural gas processing in Midland Basin.
Phillips 66 acquires Pinnacle Midland Parent from Energy Spectrum Capital for $550M, expanding its natural gas processing capabilities in Midland Basin. Acquired assets include Dos Picos system (220 MMcf/d), 80 miles of pipeline, and 50,000 dedicated acres. The deal aligns with Phillips 66's long-term objectives, aiming to build its natural gas liquids value chain and create sustainable value for shareholders.
8 months ago
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