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Phillips 66 to Build 300 MMcfd Gas Processing Facility in Permian

“The acquisition of EPIC NGL earlier this month, and today’s announcement that we are constructing a new gas plant in the Permian, furthers our integrated NGL [natural gas liquids] wellhead-to-market strategy, providing stable cash flow in uncertain market environments, enabling us to consistently return over 50 percent of net operating cash flow to shareholders”, said chair and chief executive Mark Lashier.