Phillips 66 completes acquisition of EPIC NGL

Phillips 66 has successfully closed on its acquisition of EPIC Midstream’s NGL business, marking a significant milestone for the company. Don Baldridge, Phillips 66 Executive Vice President, Midstream & Chemicals, recently shared his thoughts on this transaction and its impact in the 5 Questions with Don Baldrige video.

“This transaction strengthens our position as a leading integrated downstream energy provider,” he said. “We are evolving our portfolio and enhancing our ability to provide seamless and efficient delivery of energy products. Phillips 66 will offer producers comprehensive flow assurance while advancing a strategy that is expected to deliver attractive returns and create long-term value for our shareholders.”

It provides comprehensive market access from Corpus Christi to Mont Belvieu, ensuring reliable flow for producer customers and aligning with Phillips 66’s target of $4.5 billion in adjusted EBITDA by 2027.

With any acquisition, smooth integration is crucial for long-term success. Baldridge said some of the key priorities he will be watching for include maintaining safe, reliable operations and engaging employees throughout the transition.

“Fortunately, we have a track record of being able to do this,” Baldridge said. “With the DCP acquisition several years ago, the Pinnacle acquisition last year, we have built this muscle. We know how to do this, but it does take a lot of focus.”

Phillips 66’s integrated model offers high-value, low-cost services, leveraging its global presence to capture growth opportunities for customers.

To listen to 5 Questions with Don Baldridge, watch the video below.