Phillips 66 and Plains All American Announce Strategic JV and Sanctioning of Red Oak Pipeline System
Vinson & Elkins advised Plains All American Pipeline in connection with the formation of Red Oak Pipeline LLC, a 50/50 joint venture with Phillips 66 to develop and operate the Red Oak Pipeline system.
The pipeline system will
provide crude oil transportation service from Cushing, Oklahoma, and the
Permian Basin in West Texas to Corpus Christi, Ingleside, Houston and Beaumont,
Texas. Plains will lead project construction on behalf of the joint venture,
and Phillips 66 will operate the pipeline, which is expected to cost
approximately $2.5 billion.
The V&E corporate team
was led by partner Doug Bland and associate Yianni Georgeton, with assistance
from partner John Lynch; partner Darren Tucker and counsel David Smith.