Phillips 66 sells 25% stake in Rockies Express Pipeline to Tallgrass Energy LP for $1.3bn, part of $3bn asset divestment.
Phillips 66 has agreed to sell its 25% stake in the Rockies Express Pipeline to Tallgrass Energy LP, the majority owner of the system, for approximately $1.3 billion. This deal is part of Phillips 66's plan to divest over $3 billion in assets. The Rockies Express Pipeline, which spans 1,700 miles, transports more than 5 billion cubic feet of gas daily between the Rocky Mountains and US East Coast.
June 14, 2024
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