Phillips 66 Divests Non-Core Natural Gas Assets in Texas Deal
PSXPhillips 66(PSX) ZACKS·2024-09-04 21:26

Phillips 66, (PSX) , a leading energy company, has sold its natural gas gathering and processing assets in East Texas to Voyager Midstream Holdings, a portfolio company of Pearl Energy Investments, per a Reuters report. This move is part of Phillips 66’s ongoing strategy to monetize non-core assets and enhance returns.Phillips 66’s Strategic Asset MonetizationThe sale aligns with Phillips 66’s previously announced plan to divest $3 billion in non-core assets in January 2024. The proceeds from these sales ar ...