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home / articles / phillips 66 explores sale of rockies express pipelin mwn benzinga

PSX - Phillips 66 Explores Sale Of Rockies Express Pipeline Stake Worth Over $1B: Report | Benzinga

Phillips 66

Phillips 66 (NYSE:PSX) is reportedly exploring a sale of its 25% stake in the Rockies Express Pipeline.

The company hopes the asset to be worth more than $1 billion, including debt, reported Reuters.

Phillips 66 is expecting to command a premium to the stake’s current book value of $451 million, with bidders also needing to assume debt obligations worth over $500 million associated with the stake, as per the report.

The Rockies Express Pipeline is ...

Full story available on Benzinga.com
Stock Information
Company Name: Phillips 66
Stock Symbol: PSX
Market: NYSE
Website: phillips66.com
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