Locke Lord Represents Pinnacle Midstream’s Sale to Phillips 66 for $550 Million

A Locke Lord team led by Bill Swanstrom and Jennie Simmons (both of Houston) represented Pinnacle Midstream, an independent energy company that provides a full suite of midstream services to oil and gas producers across North America, in its sale to Phillips 66, a leading diversified and integrated downstream energy provider that manufactures, transports and markets products that drive the global economy, for $550 million. The transaction, which is expected to close around mid-year of 2024 following satisfaction of customary closing conditions, will further expand the footprint of Phillips 66 in the Midland basin. For more information, see the press release. Additional support was provided by Shumaila Dhuka, Laura L. Ferguson, Jerry Higdon, Eric Larson, Sara Longtain, Nicole Davies, Andrew Nelson, Tyler Self (all of Houston), Mark Backofen, Van Jolas (both of Dallas) and Andrew Capalbo (Providence).
Posted on May 21, 2024