{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-002491","form_type":"8-K","ticker":"PSX","cik":"0001534701","company_name":"Phillips 66","filed_at":"2025-01-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.927426+00:00","generated_at":"2026-05-28T08:26:39.018374+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Phillips 66 to acquire EPIC NGL for $2.2B cash","bullets":["Base purchase price $2.2B in cash; subject to customary adjustments for working capital, debt, etc.","Acquires two fractionators (170 MBD) near Corpus Christi, ~350 miles purity pipelines, ~885-mile NGL pipeline (175 MBD).","Pipeline expansion to 225 MBD underway; second expansion sanctioned to 350 MBD; no 2025 capex increase.","Expected to be immediately accretive to EPS; optimizes Permian NGL value chain and provides flow assurance to producers.","Funding from cash on hand and short-term debt; closing subject to HSR clearance."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-002491","json":"https://secwatch.observer/filing/0001193125-25-002491.json","markdown":"https://secwatch.observer/filing/0001193125-25-002491.md","text":"https://secwatch.observer/filing/0001193125-25-002491.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1534701/000119312525002491/0001193125-25-002491-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1534701/000119312525002491/d924980d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T08:26:39.018374+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}