Phillips 66 Sells 25% Share in Rockies Express Pipe to Tallgrass

Tallgrass Energy, majority owner of the Rockies East Express (REX) pipeline --- a 1,712-mile pipeline that runs from Colorado and Wyoming to Ohio --- has owned 75% of REX since buying out a 25% share from Sempra Energy in 2016 for $440 million (see Tallgrass Buys Out Sempra’s Portion of REX Pipeline for $440M). Refiner Phillips 66 is the owner of the other 25% of REX. On Friday, Phillips 66 announced it was selling its share to Tallgrass for $1.275 billion.

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