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The proposed transaction complements efforts at DCP Midstream to reduce operating costs, sell certain non-core assets and convert certain contracts from commodity price sensitive to fee-based.
Following this transaction, Phillips 66 and Spectra Energy will remain 50/50 joint venture owners of DCP Midstream.
While reflecting on the DCP doctrine, consulting with peers, and observing higher headquarters trying to operate daily under the DCP construct, it became apparent during battle assembly/home station periods that the DCP concept inhibits staff cohesion.
DCP and CB8 have agreed to proceed immediately with eight rezoning areas in the community where there is a mismatch between what existing zoning allows and the predominant scale of buildings.
Wouter van Kempen, formerly chief operating officer and president of DCP Midstream LLC, will become CEO and president of DCP Midstream LLC and CEO of the General Partner.
The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States.
DENVER -- DCP Midstream LLC and DCP Midstream Partners LP (NYSE: DPM) today announced the construction of a new cryogenic plant that will serve growing demand from producers in the liquids rich and prolific Eagle Ford shale.
In addition, DCP received a revised air permit from the state of Colorado last month enabling operation of the Mewbourn II Plant, west of Platteville in Weld County, at its full design capacity of 160 MMcf/d, effectively increasing operational throughput in the plant by 35 MMcf/d this summer.
DCP Midstream is upgrading its National Helium Plant in Liberal, KS to enable it to achieve deep-cut NGL exlraction.
DENVER -- DCP Midstream announces that Sand Hills Pipeline has initiated service from the Eagle Ford Shale, offering vital transportation capacity for producers' growing natural gas liquids volumes.
DCP Midstream LLC has signed long-term agreements with Pioneer joint venture partners--Pioneer Natural Resources USA Inc.
DENVER, July 26 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) will announce its earnings for the quarter ended June 30, 2010, after the New York Stock Exchange closes for trading on Thursday, August 5, 2010.