---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-070544"
form_type: "8-K"
ticker: "PSX"
cik: "0001534701"
company_name: "Phillips 66"
filed_at: "2025-04-01T23:59:59+00:00"
generated_at: "2026-05-24T00:44:24.483174+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Phillips 66 completes $2.2B EPIC NGL acquisition; expands pipeline capacity

## Summary
- Completed $2.2B cash acquisition of EPIC NGL, including 170 MBD fractionators, 350-mile purity lines, and 885-mile NGL pipeline.
- NGL pipeline expansion to 225 MBD expected Q2 2025; further expansion to 350 MBD targeted for Q4 2026.
- Assets connect Permian production to Gulf Coast markets and are integrated with Phillips 66's Sweeny Hub.
- Also increased accounts receivable securitization facility from $500M to $1B via amendment on same date.

## SEC filing metadata
- accession: 0001193125-25-070544
- form_type: 8-K
- ticker: PSX
- cik: 0001534701
- company_name: Phillips 66
- filed_at: 2025-04-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534701/000119312525070544/0001193125-25-070544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534701/000119312525070544/d885786d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-070544
- JSON: https://secwatch.observer/filing/0001193125-25-070544.json
- Plain text: https://secwatch.observer/filing/0001193125-25-070544.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.