09:50 AM EST, 02/03/2025 (MT Newswires) -- Phillips 66's (PSX) 25% equity interest in Gulf Coast Express Pipeline has been acquired by ArcLight Capital Partners and its affiliates for $865 million, ArcLight said Monday.

The 500-mile natural gas pipeline will be jointly owned by subsidiaries of Kinder Morgan ( KMI ) and ArcLight's affiliates, and will continue to be operated by a Kinder Morgan ( KMI ) unit, ArcLight said.

Shares of Phillips 66 were down 1.5% in early Monday trading, while Kinder's stock was marginally higher.

Price: 116.14, Change: -1.73, Percent Change: -1.47