Tivoli Midstream Acquires NTX Gathering System from Phillips 66
08.30.2023 By Tank Terminals - NEWS

August 30, 2023 [Businesswire]- Tivoli Midstream LLC, (“Tivoli”) today announced the closing of an acquisition of a crude oil pipeline system in Northern Texas (“NTX”) from affiliates of Phillips 66 Company (PSX). The acquisition will be made through Tivoli Services LLC, a subsidiary of Tivoli.


NTX consists of approximately 140 miles of crude oil gathering and transportation pipelines and storage capacity in the Barnett Shale area of Northern Texas. The system, which extends through portions of Young, Archer, Clay, Jack, Palo Pinto, Wichita and Stephens Counties, will be underpinned by a long-term transportation services agreement with Phillips 66.

In conjunction with the acquisition of NTX, Tivoli Services LLC also announced the closing of an investment by funds managed by Intrepid Investment Management, LLC, the investing arm of Intrepid Financial Partners, L.L.C. (“Intrepid”). Proceeds were used to fund the NTX acquisition and to provide growth capital.

Tivoli is led by industry veterans with over 70 years of combined experience leading midstream infrastructure organizations globally. Tivoli’s expertise providing complex solutions and services to the oil, gas and petrochemical industries will create meaningful value for both NTX and its anchor customer, Phillips 66.

“We are excited by our most recent acquisition of NTX, which Tivoli is ideally suited to operate,” said Rance Fromme, President of Tivoli. “We welcome our long-term partnership with Phillips 66 and look forward to working with the existing team at NTX to continue to provide the best-in-class solutions for which NTX is known.”

“We have always been impressed by Tivoli management’s extensive experience operating and improving high quality infrastructure assets, and we are excited to finally have the opportunity to partner with Rance, Rick and Bill,” said Mike France, Head of Investment Management at Intrepid. “NTX is an attractive and unique asset to begin our partnership, which we look forward to growing through future acquisitions.”


Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Pakistan, China Likely to Sign MoU on Petrochemical Refinery Next Month
05.18.2024 - NEWS
May 18, 2024 [Geo News]- During Prime Minister Shehbaz Sharif’s visit to Beijing in June, the g... Read More
Stena Oil’s New Terminal in Frederikshavn Officially Opened
05.18.2024 - NEWS
May 18, 2024 [Stena Oil]- On Tuesday, May 14th, Stena Oil’s new terminal in Frederikshavn was i... Read More
Axalta to Acquire the CoverFlexx Group, a Leading Aftermarket Coatings Business Focused on Economy Customers in North America
05.17.2024 - NEWS
May 17, 2024 [Axalta]- Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, to... Read More
Airport Operator Groupe ADP Invests $20 Million in Sustainable Aviation Fuel Provider LanzaJet
05.17.2024 - NEWS
May 17, 2024 [ESG Today]- Sustainable aviation fuel (SAF) technology and production company Lanza... Read More