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  "documentTitle": "Phillips 66 (PSX)",
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      "text": "The midstream portfolio is made up of high-quality assets – these assets are just not getting the level of attention or capital allocation required to compete against peers.",
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      "text": "TSR Generation: Targa Resources (1,204%) vs AMLP Index (87%)",
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      "text": "Board Experience: Current: Evolve Transition Infrastructure LP, Stonepeak Portfolio Companies; Prior: Targa Resources, Several Energy-focused Portfolio Companies",
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      "text": "Key Competencies to Add to the Phillips 66 Board: Significant executive-level midstream operating experience; Extensive executive-level energy industry experience; Extensive public board experience; Regulatory and legislative experience",
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      "text": "“The midstream portfolio is made up of high-quality assets – these assets are just not getting the level of attention or capital allocation required to compete against peers. We need a renewed focus on stewarding these assets while exploring the most accretive mechanisms to realize value from the midstream portfolio.” — Michael Heim",
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      "text": "Source: Bloomberg. (1) Assessed Time Period of 12/07/10 – 4/23/25, assuming dividends are 100% completely in Targa Resources and the Alerian MLP Infrastructure Index.",
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