Startup the 1-hexene production unit in Old Ocean, Texas
Delivered by the deadline
AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.
- Announced
- 29 Apr 2022
- Due
- 31 Dec 2023
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The 586 million pounds per year unit will be located in Old Ocean, Texas. The project will utilize CPChem’s proprietary technology and startup is expected in 2023.”
What we found
Evidence strength A What the grades mean
A later 10-K states that during 2023 CPChem completed construction and began operations of the 1-hexene unit in Old Ocean, Texas, within the deadline year.
-
A Phillips 66 10-K filed 2024-02-21
“During 2023, CPChem completed construction and began operations of a 585 million pounds per year 1-hexene unit in Old Ocean, Texas.” ✓ confirmed on the page
Market reaction: the shares moved +2.0% against the S&P 500 over the three sessions around the disclosure (20 Feb 2024 to 23 Feb 2024). What this measures
Checked 15 Oct 2026.
Commitment lineage
Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.
- 1 versions
-
Version 1 · original · stated 29 Apr 2022
Deadline 31 Dec 2023 (“in 2023”) · wording expected
-
Version 2 · stated 2 Aug 2023
Deadline 30 Sep 2023 (“by the end of the third quarter”) · wording expected
“commercial operations are expected to begin by the end of the third quarter”
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Production start
- Indicative materiality
- High rules
- Action
- Startup
- Deliverable
- 1-hexene production unit
- Where
- Texas
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- High
- Specificity
- High
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Gemini (Google), re-read the evidence without being told the outcome and reached the same answer.
Confirmed. This outcome counts towards the company's Kept Score. How verification works
Are you Phillips 66? You can publish an official statement next to this entry, free. Add a statement.
Is something here wrong or out of date? Companies and readers can ask us to check it. Please bring a link to a public source.
Report an error in this entry Reference: KI-C-2022-PSX-010200 · Corrections policy