DCP Midstream: Difference between revisions
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==Environmental violations== | ==Environmental violations== | ||
Just like all our favorite polluters, DCP Midstream has a total of 143 environmental violations <ref>https://violationtracker.goodjobsfirst.org/parent/dcp-midstream-partners</ref> with the most recent one being a [[Clean Air Act]] violation in the state of Colorado. The violation was filed by the U.S. District Court for the District of Colorado with a complaint that alleges DCP violated leak detection and repair requirements included in federal and state clean air laws which resulted in an excess of emissions of a volatile organic compound and other pollutants at eight fossil gas plants in Weld County, Colorado.<ref>https://www.justice.gov/opa/pr/justice-department-epa-and-state-colorado-settlement-dcp-operating-company-lp-resolves-clean</ref> | Just like all our favorite polluters, DCP Midstream has a total of 143 environmental violations <ref>https://violationtracker.goodjobsfirst.org/parent/dcp-midstream-partners</ref> with the most recent one being a [[Clean Air Act]] violation in the state of Colorado. The violation was filed by the [[U.S. District Court for the District of Colorado]] with a complaint that alleges DCP violated leak detection and repair requirements included in federal and state clean air laws which resulted in an excess of emissions of a volatile organic compound and other pollutants at eight fossil gas plants in Weld County, Colorado.<ref>https://www.justice.gov/opa/pr/justice-department-epa-and-state-colorado-settlement-dcp-operating-company-lp-resolves-clean</ref> | ||
Revision as of 01:52, 3 February 2023
DCP Midstream is headquartered in Denver, CO with Wouter T. van Kempen as CEO; DCP is a fossil gas producer that gathers, treats, compresses, processes, and transports to markets and stores. It has 11 fractionating facilities and is considered a market leader for separating NGLs from raw fossil gas, according to Enbridge report "fractionates" the liquids into its individual ethane, propane, butane, and gasoline components. [1]
Ownership and Revenue
Their main fractionation facilities are located in Colorado, Louisiana, and Texas. DCP is also a joint venture between Phillips 66 which acquired it for $3.8 billion, and Enbridge and is a Fortune 500 company. Enbridge owns 13.2% of its indirect economic interest.
Phillips 66 President and CEO Mark Lashier said:
"We are delivering on our commitment to grow our NGL business; As we continue integrating DCP Midstream, which will account for at least $300 million to even $1 billion in revenue."
According to the company's Wikipedia in 2015, it had an economic value of more than $6 billion then reaching $9.8 billion in 2018, and 628 employees providing support, denominating it the largest midstream petroleum company in the United States. The company is currently The State of Colorado's largest oil and gas employer at 1,800 employees; the company announced its plan to lay off 136 employees which raised concerns, early in January 2023 after Phillips 66 laid out its strategy to integrate DCP.[2]
Phillips 66 also plans to fund approximately $3.8 billion cash consideration through a combination of cash and debt while maintaining its current investment-grade credits. The transaction is expected to close in the second quarter of 2023. [3]
Environmental violations
Just like all our favorite polluters, DCP Midstream has a total of 143 environmental violations [4] with the most recent one being a Clean Air Act violation in the state of Colorado. The violation was filed by the U.S. District Court for the District of Colorado with a complaint that alleges DCP violated leak detection and repair requirements included in federal and state clean air laws which resulted in an excess of emissions of a volatile organic compound and other pollutants at eight fossil gas plants in Weld County, Colorado.[5]
Attorney General Todd Kim from the Justice Department's Environment and Natural Resources Division said:
“Leaks from equipment like valves, pumps, and connectors are a significant source of harmful air pollutants. Enforcement actions like this are critical to improving air quality, particularly in places facing air quality challenges like Weld County.”
The violation resulted in DCP paying a civil penalty of $3.25 million and it agreed to strengthen its leak detection and repair practices at Greeley, Kersey/Mewbourne, Platteville, Roggen, Spindle, O'Connor, and Lucerne fossil gas plants. Additionally, DCP agreed to install additional pollution measures at their Kersey/Mewbourne gas processing plant to mitigate the harm caused.
The New Mexico Environment Department
Another state and federal air violation were on the books for DCP when the New Mexico Environment Department issued a compliance order to DCP Midstream after it submitted 367 excess emission reports between December 2017 and June 2019 in eight New Mexico-based facilities, totaling over 2.1 million pounds of pollutants. [6]
DCP has had air violations at the following facilities: Lusk Booster Station, South Hat Mesa Booster Station, Monument Booster Station, Artesia Gas Plant, and Linam Ranch Gas Plant. [7]
- ↑ https://www.enbridge.com/-/media/Enb/Documents/Factsheets/FS_EnergyInfrastructureAssets.pdf?rev=336711a2a83e485b8302f33ec1fa1dfe&hash=1CC2046A8F73F237C37789B7CBC8A930
- ↑ https://denvergazette.com/news/business/denver-based-dcp-midstream-to-layoff-over-130-employees-in-the-spring/article_9f310e1e-a1cc-11ed-8e1e-fb0480185a7b.html
- ↑ https://www.lpgasmagazine.com/phillips-66-continues-to-integrate-dcp-midstream/
- ↑ https://violationtracker.goodjobsfirst.org/parent/dcp-midstream-partners
- ↑ https://www.justice.gov/opa/pr/justice-department-epa-and-state-colorado-settlement-dcp-operating-company-lp-resolves-clean
- ↑ https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/state-agency-fines-dcp-midstream-unit-5-3m-for-environmental-violations-59359561
- ↑ https://cloud.env.nm.gov/air/pages/view.php?ref=8386&k=ff8f5f6fc2