ArcLight Completes $865MM Deal for Phillips 66’s Stake in NatGas Line
Transaction Type
Sellers
Basin
Permian Basin
Announce Date
Post Date
Close Date
Estimated Price
865BB
Description
ArcLight Capital Partners finished its $865 million acquisition of a 25% stake in the Gulf Coast Express (GCX) natural gas pipeline, the company announced Feb. 3.
The 25% stake in the line formerly belonged to Phillips 66. ArcLight affiliates and Kinder Morgan (KMI) subsidiaries now own the asset. KMI will continue to operate the line.
Kinder Morgan announced in October 2024 that it would increase the line’s capacity by 570 MMcf/d. GCX is a 500-mile line that currently carries up to 2 Bcf/d of natural gas from the Permian Basin to the Agua Dulce area close to Corpus Christi in South Texas.