M&A Deal Summary

Phillips 66 Acquires Phillips 66 Partners

On March 9, 2022, Phillips 66 acquired energy services and equipment company Phillips 66 Partners

Acquisition Highlights
  • This is Phillips 66’s 1st transaction in the Energy Services and Equipment sector.
  • This is Phillips 66’s 2nd transaction in the United States.
  • This is Phillips 66’s 1st transaction in Texas.

M&A Deal Summary

Date 2022-03-09
Target Phillips 66 Partners
Sector Energy Services and Equipment
Buyer(s) Phillips 66
Deal Type Add-on Acquisition

Target

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.

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Buyer(S) 1

Buyer

Phillips 66

Houston, Texas, United States

Category Company
Founded 1875
Sector Energy Services and Equipment
Employees14,000
Revenue 147.4B USD (2023)
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 3 of 5
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Texas) 1 of 2
Country (United States) 2 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 Novonix

Brisbane, Australia

Novonix is a developer and supplier of high-performance materials, equipment, and services for the global lithium-ion battery industry with operations in the U.S. and Canada. The company's mission is to enable a clean energy future by producing longer-life and lower-cost battery materials and technologies. Novonix was founded in 2012 and is based in Brisbane, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 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.

Sell -