Phillips 66 Partners and Kinder Morgan Announce Open Season for Joint Transportation Service from West Texas to Houston

HOUSTON–(BUSINESS WIRE)–Phillips 66 Partners (NYSE: PXSP) and Kinder Morgan, Inc. (NYSE: KMI),
announced today the start of a joint open season by Gray Oak Pipeline,
LLC (Gray Oak) and Kinder Morgan Crude & Condensate LLC (KMCC) to
provide shippers with long-term crude oil transportation from Gray Oak
Pipeline origin points in the Permian Basin to KMCC delivery points at
or near the Houston Ship Channel under a binding joint transportation
services agreement. Delivery from the Gray Oak Pipeline to the Houston
Ship Channel would be achieved through a connection in South Texas.


The joint transportation service offering is part of the Gray Oak
Pipeline expansion open season that is currently open to interested
shippers. Prior to participating in the open season, interested parties
must execute a confidentiality agreement to govern the receipt of the
open season documentation. For a form of confidentiality agreement and
additional information regarding the joint open season, please contact
Corey Leonard at GrayOak@p66.com
or Justin Peltier at Justin_Peltier@Kindermorgan.com.

About Phillips 66 Partners

Headquartered in Houston, Phillips 66 Partners is a growth-oriented
master limited partnership formed by Phillips 66 to own, operate,
develop and acquire primarily fee-based crude oil, refined petroleum
products and natural gas liquids pipelines, terminals and other
midstream assets. For more information, visit www.phillips66partners.com.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. We own an interest in or
operate approximately 84,000 miles of pipelines and 157 terminals. Our
pipelines transport natural gas, refined petroleum products, crude oil,
condensate, CO2 and other products, and our terminals
transload and store liquid commodities including petroleum products,
ethanol and chemicals, and bulk products, including petroleum coke,
metals and ores. For more information please visit www.kindermorgan.com.

CAUTIONARY STATEMENTS

Phillips 66 Partners:

This news release contains forward-looking statements as defined
under the federal securities laws, including projections, plans and
objectives. Although Phillips 66 Partners believes that expectations
reflected in such forward-looking statements are reasonable, no
assurance can be given that such expectations will prove to be correct.
In addition, these statements are subject to certain risks,
uncertainties and other assumptions that are difficult to predict and
may be beyond Phillips 66 Partners’ control. If one or more of these
risks or uncertainties materialize, or if underlying assumptions prove
incorrect, actual results may vary materially from what Phillips 66
Partners anticipated, estimated, projected or expected. The key risk
factors that may have a direct bearing on the forward-looking statements
are the accuracy of our assumptions used to estimate the timing of
permit receipts and the construction schedule, the ultimate number of
co-venturers and associated ownership interests, and our ability to
successfully construct and integrate the assets into our operations, and
other factors as described in the filings that Phillips 66 Partners
makes with the Securities and Exchange Commission. In light of these
risks, uncertainties and assumptions, the events described in the
forward-looking statements might not occur or might occur to a different
extent or at a different time than as described. All forward-looking
statements in this release are made as of the date hereof and Phillips
66 Partners undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

Kinder Morgan:

This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes, ”anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
Forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in Kinder Morgan’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2018 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at
www.sec.gov
and on our website at ir.kindermorgan.com. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, KMI undertakes no obligation to update any
forward-looking statement because of new information, future events or
other factors. Because of these risks and uncertainties, readers should
not place undue reliance on these forward-looking statements.

Contacts

Phillips 66 Partners:

Jeff Dietert (investors), 832-765-2297
jeff.dietert@p66.com
or
Brent
Shaw (investors), 832-765-2297
brent.d.shaw@p66.com
or
Dennis
Nuss (media), 832-765-1850
dennis.h.nuss@p66.com

Kinder Morgan:

Katherine Hill (Media), 713-420-6397
newsroom@kindermorgan.com

Investor Relations, 713-369-9490
km_ir@kindermorgan.com

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