Phillips 66 Sells Stake in REX Pipeline to Tallgrass

June 17, 2024

Integrated downstream company Phillips 66 is selling its 25 percent non-operated common equity interest in Rockies Express Pipeline LLC (REX) to a subsidiary of Tallgrass Energy LP (TGE) for an enterprise value of approximately $1.275 billion.

TGE is the operator of REX and will own 100% of the common equity interest in REX following the transaction, Phillips 66 said in a news release.

Read more