Recently, Zacks.com users have been paying close attention to Phillips 66 (PSX). This makes it worthwhile to examine what the stock has in store.
Phillips 66 (PSX) aims to increase its natural gas processing footprint in the Midland Basin through its acquisition of Pinnacle Midland from a private equity firm, Energy Spectrum Capital.
HOUSTON, May 20, 2024--Phillips 66 will acquire Pinnacle Midstream for $550 million, expanding its natural gas gathering and processing footprint in the Midland Basin.