'Shell And Phillips 66 Are Working On A Potential Sale Of Their Stakes In The Explorer Pipeline; Energy Transfer And MPLX Could Also Join Explorer Sale Efforts, Depending On The Strength Of Interest In The Shell And Phillips 66 Stakes; Any Deal Could Value The Explorer Pipeline At Around $3.5B, Sources Say' - Reuters Exclusive
Shell and P66 own around 61% of Explorer, in early stages of sale effort, sources sayEnergy Transfer and MPLX could also sell if buyers willing to pay high price for whole pipeline, sources sayExplorer among most
Shell and Phillips 66 might sell their parts of a big oil pipeline called Explorer, and other companies could join too. When companies sell pieces of what they own, it usually means they want to focus on other things or need cash for different plans.
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