Tivoli Services finalized the purchase of the NTX pipeline system from Phillips 66, backed by a long-term transportation services agreement.
Tivoli Services LLC, a branch of Tivoli Midstream LLC, completed the purchase of the NTX oil pipeline system in the Barnett Shale from Phillips 66 affiliates, according to press release by Tivoli Midstream. The financial terms remain undisclosed.
The acquisition comprises around 140 miles of North Texas Barnett gathering and transportation pipelines that cross multiple counties and is backed by a long-term deal for transportation services with Phillips 66.
Tivoli President Rance Fromme expressed enthusiasm about the ongoing relationship with Phillips 66 and emphasized a commitment to maintaining NTX's high service standards in the official statement.
The acquisition was financed through the proceeds from a recently closed investment fund managed by Intrepid Investment Management LLC, the financial subsidiary of Intrepid Financial Partners LLC.
About Tivoli
Tivoli is a forward-thinking midstream, logistics, and services firm committed to improving both the world and the environment on a daily basis. With a specialized focus on offering tailored solutions for the oil, gas, and petrochemical sectors, Tivoli aims to build lasting trust with its clientele by surpassing industry standards in safety, customer service, and reliability. Drawing from more than seven decades of expertise, the company serves over 20 unique industries and manages a diverse portfolio of over 200 products.
