M&A Deal Summary

Harvest Midstream Acquires Phillips 66 - Belle Chasse Terminal Facility

On December 21, 2022, Harvest Midstream acquired energy services and equipment company Phillips 66 - Belle Chasse Terminal Facility from Phillips 66

Acquisition Highlights
  • This is Harvest Midstream’s 3rd transaction in the Energy Services and Equipment sector.
  • This is Harvest Midstream’s 3rd transaction in the United States.
  • This is Harvest Midstream’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2022-12-21
Target Phillips 66 - Belle Chasse Terminal Facility
Sector Energy Services and Equipment
Buyer(s) Harvest Midstream
Sellers(s) Phillips 66
Deal Type Divestiture

Target

Phillips 66 - Belle Chasse Terminal Facility

Belle Chasse, Louisiana, United States
Phillips 66's Belle Chasse Terminal Facility is a crude oil terminal. This facility sits on approximately 3,200 acres, has 1 million barrels of active storage capacity and two crude oil loading docks. Phillips 66's Belle Chasse Terminal Facility is based in Belle Chasse, Louisiana.

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Buyer(S) 1

Buyer

Harvest Midstream

Houston, Texas, United States

website


Category Company
Sector Energy Services and Equipment
DESCRIPTION

Harvest Midstream Co. is an entrepreneurial, privately-held midstream service provider. Harvest Midstream safely and responsibly transports and processes oil, natural gas and natural gas liquids across the United States. Harvest Midstream Co. has assets in Alaska, Louisiana, New Mexico, Ohio, Pennsylvania, and Texas.


DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 3 of 4
Type (Divestiture) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 3 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-27 Alyeska Pipeline Service

Anchorage, Arkansas, United States

Alyeska Pipeline Service Co. design, build, maintain and operate the Trans Alaska Pipeline System. Alyeska Pipeline Service Co. Provide safe, environmentally responsible, reliable and cost-effective oil pipeline transportation from the North Slope of Alaska.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-27 Paradigm Energy Partners

Dallas, Texas, United States

Paradigm Energy Partners is focused on developing, constructing, and operating midstream assets in the Bakken Shale in North Dakota and the Eagle Ford in South Texas.

Buy -

Seller(S) 1

SELLER

Phillips 66

Houston, Texas, United States

website


Category Company
Founded 1875
Sector Energy Services and Equipment
Employees14,300
Revenue 170.0B USD (2022)
DESCRIPTION
Entrance to Phillips 66's corporate headquarters in Houston, Texas.
Entrance to Phillips 66's corporate headquarters in Houston, Texas.

Phillips 66 is an energy and logistics company. Its midstream segment gathers, processes, transports and markets natural gas; and transports, stores, fractionates and markets natural gas liquids (NGL) in the United States. In addition, this segment transports crude oil and other feedstocks to refineries and other locations, delivers refined and specialty products to market, and provides terminaling and storage services for crude oil and petroleum products. Its chemicals segments consists of our 50 percent equity investment in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets petrochemicals and plastics on a worldwide basis. Its refining segment buys, sells and refines crude oil and other feedstocks at refineries in the United States and Europe. Its marketing and specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe. Phillips 66 was founded in 1875 and is based in Houston, Texas.


DEAL STATS #
Overall 4 of 4
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 2 of 2
State (Louisiana) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 Phillips 66 Partners

Houston, Texas, United States

Phillips 66 Partners owns, operates, and develops primarily fee-based crude oil, refined petroleum product and natural gas liquids pipelines and terminals and other transportation and midstream assets. Phillips 66 Partners was founded in 2013 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-15 DCP Midstream

Denver, Colorado, United States

DCP Midstream is a provider of natural gas gatherers and processors, and natural gas liquids (NGLs) producer. DCP Midstream operates in 16 states across the five largest natural gas producing regions in the United States. DCP Midstream is based in Denver, Colorado.

Buy $3.8B