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Phillips 66 Announces Sale of 25% Equity Interest in Rockies Express Pipeline to Tallgrass Energy Subsidiary

Deals & Cases
June 17, 2024
Deals & Cases
June 17, 2024

Vinson & Elkins advised Tallgrass Energy, LP (“TGE”) in the acquisition of Phillips 66’s 25% interest in the Rockies Express Pipeline (“REX”) for an enterprise value of approximately $1.275 billion.

TGE will own 100% of the common equity interest in REX following the transaction. REX is one of the largest natural gas pipelines ever built in North America, running from the Rocky Mountains of Colorado to eastern Ohio.

The Vinson & Elkins team was led by partners Lande Spottswood and Alex Robertson, with assistance from associates Chase Browndorf, Autumn Simpson and Waleed Vohra. Other key team members include partner Ryan Carney, counsel Peter Rogers and associate Tyler Underwood; partner David Wicklund and associate David Albano; partner Hill Wellford and counsel Ryan Will; and partner Dario Mendoza.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 13 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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