Stake Purchase • Oil/Gas Exploration

Phillips 66 Partners Invests In Liberty Pipeline Project

On February 21, 2020, Phillips 66 Partners invested in oil/gas exploration company Liberty Pipeline Project from Phillips 66

Investment Context
  • This is Phillips 66 Partners’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Phillips 66 Partners’ 3rd transaction in the United States.

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Investment Summary

Date February 21, 2020
Target Liberty Pipeline Project
Sector Oil/Gas Exploration
Investor(s) Phillips 66 Partners
Sellers(s) Phillips 66
Deal Type Stake Purchase

Target Company

Liberty Pipeline Project

United States
Liberty Pipeline Project is a 700-mile-long, pipeline of up to 24 inches in diameter transporting light crude oil from the Rockies and Bakken production areas to Cushing, Oklahoma. The Liberty Pipeline will be part of a network of pipelines that provide a safe, reliable and economical means of delivering crude oil from the Rockies and Bakken production areas.
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Investor Overview 1

Investor

Phillips 66 Partners

Houston, Texas, United States

Category Company
Founded 2013
Sector Energy Services and Equipment
Revenue 1.0B USD (2020)
DESCRIPTION

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.


Deal Context for Investor #
Overall 3 of 3
Sector: Oil/Gas Exploration 2 of 2
Type: Stake Purchase 1 of 1
Country: United States 3 of 3
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-22 Merey Sweeny

Sweeny, Texas, United States

Merey Sweeny LP is a provider of Fuel-grade petroleum coke. Merey Sweeny was founded in 1998 and is based in Sweeny, Texas.

Buy -

Seller Profile 1

SELLER

Phillips 66

Houston, Texas, United States

Category Company
Founded 1875
Sector Energy Services and Equipment
Employees13,200
Revenue 143.2B USD (2024)
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 Context for Seller #
Overall 3 of 5
Sector: Oil/Gas Exploration 2 of 3
Type: Stake Purchase 2 of 3
Country: United States 2 of 3
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 Malaysian Refining Co. Sdn. Bhd.

Sungai Udang, Malaysia

Malaysian Refining Company Sdn. Bdh., also known as PSR-2, refines and processes crude oil into refined products.

Sell $635M
FOLLOWING 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.

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