One-Page Deal Sheet
Phillips 66 Acquires Additional Stake in Explorer Pipeline Co.
Phillips 66 Explorer Pipeline Company
Announced Date
July 25,2016
Transaction Type
Working Interest
Location
Region
United States
Country
United States
Transaction Details: Subscribe to see
Phillips 66 Partners LP has agreed to acquire an additional 2.5 percent equity interest in Explorer Pipeline Company. This acquisition will result in the Partnership having a total ownership interest of approximately 22 percent.
Explorer is recognized as one of the nation’s leading petroleum products transporters serving more than 70 major cities in 16 states. Its 1,830-mile pipeline transports gasoline, diesel, fuel oil and jet fuel with an average flow of more than 600,000 barrels per day.
The acquisition is expected to be immediately accretive to unitholders and funded with cash and…
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