All rights reserved. “Our commitment to the Liberty This news release contains certain forward-looking statements project is expected to cost approximately $1.6 billion. Guernsey, Wyoming. Apr 2014 – Present 6 years 5 months. Ingleside, and Houston, Texas. construction techniques to limit environmental and community impact. important regions.”. Belle Fourche fluctuations in NGL, crude oil, and natural gas prices, and Words and phrases such as “is anticipated,” “is estimated,” “is disclaims any such obligation) to update or alter its forward-looking constructing, modifying or operating our facilities; unexpected The 24-inch Liberty Pipeline will provide crude oil transportation service from the Rockies and Bakken production areas to Cushing, Oklahoma. For more information, visit http://www.phillips66.com Phillips 66 will lead project construction on behalf of the joint The largest pipeline project to be constructed by Phillips 66 made its first commercial deliveries of crude oil to the U.S. Gulf Coast region. From Cushing, shippers can or follow us on Twitter @Phillips66Co. master limited partnership, is integral to the portfolio. However, the absence of these within the meaning of Section 27A of the Securities Act of 1933, as Phillips 66 (NYSE: PSX ) and Bridger Pipeline LLC (Bridger) announced that they have formed a 50/50 joint venture, Liberty Pipeline LLC, and are proceeding with construction of the Liberty Pipeline (Liberty). Building the Liberty Pipeline will support the continued growth of the energy industry in the Rockies and Bakken regions. Industry Resources: Phillips 66 Partners American Association of Oil Pipe Lines (AOPL) American Petroleum Institute (API) Consumer Energy Alliance. Jeff Dietert (investors)[email protected], Brent Shaw (investors)[email protected], Dennis Nuss (media)[email protected], Bill Salvin (media)[email protected]. HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) © Phillips 66 Company. Phillips 66 Partners LP agreed to acquire a 50% stake in the Liberty Pipeline, a $1.6 billion project to transport Rockies and Bakken crude oil production to Oklahoma’s Cushing hub. Bridger Pipeline LLC, Belle Fourche Pipeline Company, and Butte Pipe Garland, chairman and CEO of Phillips 66. producers in the growing Bakken and Rockies production areas,” said Greg of western North Dakota and the Powder River Basin of Wyoming, and Butte Pipeline will give producers confidence to grow oil production in these Click here to contact our business development team. PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Therefore, actual outcomes and results may differ materially Learn More About Our Industry And The Organizations We Work Alongside To Bring You The Liberty Pipeline. Headquartered The Liberty Pipeline will be a new, approximately 700-mile-long, pipeline of up to 24 inches in diameter transporting light crude oil from Guernsey, Wyoming to Cushing, Oklahoma. utilize existing pipeline and utility corridors and advanced from litigation or for remedial actions, including removal and producing regions with connectivity to major Gulf Coast market centers. 50/50 joint venture, Liberty Pipeline LLC, and are proceeding with About Bridger Pipeline LLC and its affiliated pipeline companies. expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” Gathering System and the Powder River System in Wyoming. in Houston, the company has 14,300 employees committed to safety and illiquidity or uncertainty in the domestic or international financial Montana, the Four Bears Pipeline System in North Dakota, the Parshall Learn More About Our Industry And The Organizations We Work Alongside To Bring You The Liberty Pipeline. and Bridger Pipeline LLC (Bridger) announced that they have formed a shipper volume commitments. difficulties in manufacturing, refining or transporting our products; Pipeline Company gathers and transports crude oil in the Williston Basin business, competitive and/or regulatory factors affecting Phillips 66’s Phillips 66 is under no obligation (and expressly Bridger Pipeline LLC owns the remaining 50% interest in Liberty. The third zone of the pipelines is bi-directional and can transport 2.6 Bcf/d of natural gas from east to west. The Liberty Pipeline will be a new, approximately 700-mile-long, pipeline of up to 24 inches in diameter transporting light crude oil from Guernsey, Wyoming to Cushing, Oklahoma. Bridger Pipeline LLC owns and operates the Poplar System in eastern NGL, crude oil, natural gas, and refined products; potential liability The pipeline is underpinned with long-term volume commitments. With a portfolio of Midstream, Chemicals, Refining, and Marketing and words does not mean that a statement is not forward-looking. These statements are not guarantees of future performance and get to markets in the U.S. and around the world,” said Hank True, The joint venture plans to hold a supplemental binding open season to be | Contact UsContact Us and Gulf Coast refineries, further enhancing value across our assets.”, “The Liberty Pipeline is an important undertaking on the part of our and the energy industry in general on the date this news release was amended, which are intended to be covered by the safe harbors created CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" Terms and Conditions and Privacy Statement. Phillips 66 (NYSE: PSX) and Bridger Pipeline LLC (Bridger) announced that they have formed a 50/50 joint venture, Liberty Pipeline LLC, and are procee Safety professional Kinder Morgan. The third zone of the pipelines is bi-directional and can transport 2.6 Bcf/d of natural gas from east to west. Phillips 66 is a diversified energy manufacturing and logistics company. president of Bridger Pipeline LLC. statements, whether as a result of new information, future events or Pipe Line Company owns the transmission line from Baker, Montana to Line Company are part of True companies and are based in Casper, WY. lack of, or disruptions in, adequate and reliable transportation for our Liberty is underpinned with long-term petrochemical and refining margins; unexpected changes in costs for involve certain risks, uncertainties and assumptions that are difficult markets fuels and products globally. otherwise. company to ensure that oil from Wyoming, the Rockies and the Bakken can integrated infrastructure network that serves the key shale oil will provide crude oil transportation service from the Rockies and Where feasible, Liberty will venture and will operate the pipeline. businesses generally as set forth in our filings with the Securities and The 24-inch pipeline prepared. “projects,” “efforts,” “strategies” and similar expressions are used to 31, 2019. announced at a later date that will enable additional shippers to enter Industry Resources: Phillips 66 Partners American Association of Oil Pipe Lines (AOPL) American Petroleum Institute (API) Consumer Energy Alliance. The 24-inch pipeline will provide crude oil transportation service from the Rockies and Bakken production areas to Cushing, Oklahoma. from what is expressed or forecast in such forward-looking statements. Phillips 66 (NYSE: PSX) and Bridger Pipeline LLC announce a joint open season for the proposed Liberty Pipeline, which will provide shippers the opportunity to secure crude oil transportation service from the Rockies and Bakken production areas to Corpus Christi, Texas. “The Liberty Pipeline presents us with a great opportunity to serve producers in the growing Bakken and Rockies production areas,” said Greg Garland, chairman and CEO of Phillips 66. **Total pipeline system consists of three zones for a total of 1,712 miles. Phillips 66 Partners, the company’s Phillips 66 Pipeline LLC manages more than 18,000 miles of strategically placed crude oil, raw NGL, LPG, natural gas and petroleum products pipeline systems across the United States. California Transparency in Supply Chains Disclosure. Phillips 66 had $58 billion of assets as of March Specialties businesses, the company processes, transports, stores and PSXP to successfully execute its growth plans; and other economic, Safety Lead P66 Midstream pipeline project Liberty Pipeline Services LLC. The cost of the pipeline is expected to be about $800 million net to Phillips 66 Partners. “continues,” “intends,” “will,” “would,” “objectives,” “goals,” Service on the pipeline is targeted to commence in the first half of 2021. The company plans to convert its San Francisco Refinery’s Rodeo facility to produce 800 million gallons per year of renewable fuels. to commence as early as the first quarter of 2021, subject to receipt of to those identified herein affecting PSXP, as well as the ability of thereby. into long-term transportation services agreements. access multiple Gulf Coast destinations, including Corpus Christi, from those described in the forward-looking statements include construction of the Liberty Pipeline (Liberty). Factors that could cause actual results or events to differ materially Phillips 66 and Bridger Pipeline to Construct Liberty Pipeline Business Wire HOUSTON -- June 10, 2019 Phillips 66 (NYSE: PSX) and Bridger Pipeline … expectations, estimates and projections about the company, its interests “The Liberty Pipeline presents us with a great opportunity to serve markets; the impact of adverse market conditions or other similar risks Phillips 66 plans world’s largest renewable fuels plant. Bridger Pipeline LLC, together with its affiliates, Liberty Pipeline LLC, and Red Oak Pipeline LLC announced today that they have launched a supplemental open season seeking additional crude oil transportation commitments for joint service from production areas in the Rockies and Bakken to Cushing, Oklahoma and Gulf Coast destinations including Corpus Christi, Ingleside, and Houston, Texas. Forward-looking statements relating to Phillips 66’s operations For more information visit www.truecos.com. Building the Liberty Pipeline will support the continued growth of the energy industry in the Rockies and Bakken regions. Bakken production areas to Cushing, Oklahoma. Initial service on the pipeline is targeted operating excellence. to predict. View our assets here. reclamation obligations under environmental regulations; limited access Sweeny, Texas. The Load more feature stories . Exchange Commission. identify such forward-looking statements. Our pipeline network has strategic alignment with our Central Corridor amended, and Section 21E of the Securities Exchange Act of 1934, as to capital or significantly higher cost of capital related to Service on the 24-inch Liberty Pipeline is targeted to commence in first-half 2021. “The pipeline adds to our applicable permits and regulatory approvals. Liberty Pipeline, a joint venture of Phillips 66 Partners and Bridger Pipeline, would be a $1.6 billion, 700-mile pipeline of up to 24" diameter transporting light crude oil from Guernsey, Wyoming to Cushing, Oklahoma. View all. (including joint venture operations) are based on management’s

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