DCP Midstream: Difference between revisions
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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. <ref>https://www.lpgasmagazine.com/phillips-66-continues-to-integrate-dcp-midstream/</ref> | 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. <ref>https://www.lpgasmagazine.com/phillips-66-continues-to-integrate-dcp-midstream/</ref> | ||
==Enviromental violations== | |||
Revision as of 23:55, 2 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]
Enviromental violations
- ↑ 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/