On the Record · Phillips 66
Phillips 66 acquisitions, on the record
The businesses Phillips 66 bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Gray Oak Holdings LLCWord for word“On August 17, 2022, we and our co-venturer, Enbridge, agreed to merge DCP Midstream and Gray Oak Holdings with DCP Midstream as the surviving entity.” 10-K for 2022 | merger | August 17, 2022 | — |
DCP Midstream, LPWord for word“Under the terms of the agreement, at the effective time of the merger, each publicly held common unit representing a limited partner interest in DCP LP (other than the common units owned by DCP LP and DCP Midstream, GP, LP) issued and outstanding as of immediately prior to the effective time will be converted into the right to receive $41.75 per common unit in cash, without interest.” 10-K for 2022 | agreed acquisition | — | $41.75 per common unit |
DCP Midstream, LLC and Gray Oak Holdings LLCWord for word“On August 17, 2022, we and our co-venturer, Enbridge, agreed to merge DCP Midstream and Gray Oak Holdings with DCP Midstream as the surviving entity.” 10-K for 2023 | merger | August 17, 2022 | — |
DCP Midstream, LP (publicly held common units)Word for word“On June 15, 2023, we completed the acquisition of all publicly held common units of DCP LP pursuant to the terms of the Agreement and Plan of Merger, dated as of January 5, 2023 (DCP LP Merger Agreement).” 10-K for 2023 | acquisition | June 15, 2023 | — |
25% interest in the South Texas Gateway TerminalWord for word“On August 1, 2023, we sold our 25% ownership interest in the South Texas Gateway Terminal for approximately $275 million.” 10-K for 2023 | divestiture | August 1, 2023 | approximately $275 million |
Belle Chasse TerminalWord for word“On February 28, 2023, we closed on the sale of the Belle Chasse Terminal for approximately $76 million.” 10-K for 2023 | divestiture | February 28, 2023 | approximately $76 million |
marketing business on the U.S. West CoastWord for word“On August 1, 2023, we acquired a marketing business on the U.S. West Coast for total consideration of $269 million.” 10-K for 2023 | acquisition | August 1, 2023 | $269 million |
Pinnacle Midland Parent LLC (Pinnacle Midstream)Word for word“On July 1, 2024, we acquired Pinnacle Midland Parent LLC (Pinnacle Midstream) to expand our natural gas gathering and processing operations in the Permian Basin for cash consideration of $565 million.” 10-K for 2024 | acquisition | On July 1, 2024 | $565 million |
EPIC Y-Grade GP, LLC and EPIC Y-Grade, LP (EPIC Y-Grade)Word for word“On January 6, 2025, we entered into a definitive agreement to acquire all issued and outstanding equity interests in each of EPIC Y-Grade GP, LLC (Y-Grade GP) and EPIC Y-Grade, LP (Y-Grade LP, and, together with Y-Grade GP and their respective subsidiaries, EPIC Y-Grade), which own various long haul natural gas liquids pipelines, fractionation facilities and distribution systems, for cash consideration of $2.2 billion, subject to certain closing adjustments.” 10-K for 2024 | agreed acquisition | On January 6, 2025 | $2.2 billion |
a marketing business on the U.S. West CoastWord for word“On October 1, 2024, we acquired a marketing business on the U.S. West Coast for total consideration of $65 million.” 10-K for 2024 | acquisition | On October 1, 2024 | $65 million |
Our 25% ownership interest in Rockies Express Pipeline LLCWord for word“Our 25% ownership interest in Rockies Express Pipeline LLC.” 10-K for 2024 | divestiture | — | — |
49% ownership interest in Coop Mineraloel AG (Coop)Word for word“The instrument is in connection with the sale of our 49% ownership interest in Coop, which closed in January 2025.” 10-K for 2024 | agreed divestiture | January 2025 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2016-12-31 | — | $3 million |
| 2021-12-31 | — | $59 million |
| 2022-12-31 | $306 million | $2 million |
| 2023-12-31 | $263 million | $64 million |
| 2024-12-31 | $625 million | $25 million |
| 2025-12-31 | $3.5 billion | — |
Deal filings since 2016
- 2026-08-21 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2026-03-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-09-30 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-04-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-01-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-10-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-02-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-29 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-01-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-06-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-10-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-11-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-04-07 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-03-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-08-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-07-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-02-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Phillips 66’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.