DCP Midstream LP
DCP Midstream LP Headquarters Location
Denver, CO
About DCP Midstream LP
DCP Midstream Partners is the publicly traded entity of DCP Midstream LLC, one of the largest natural gas gatherers in North America and also the top producer and one of the primary marketers of natural gas liquids (NGLs). It also engages in natural gas compressing, treating, processing, transporting, and selling. DCP Midstream LLC also transports and sells NGLs and distributes propane wholesale. The company operates natural gas gathering systems (5,300 miles of pipe) in eight states (including Arkansas, Louisiana, Oklahoma, and Texas), seven processing plants, four NGL pipelines, and nine propane storage terminals. Spectra Energy holds a 50% holding in DCP (ConocoPhillips holds the other 50%).
A consolidator in the fragmented natural gas gathering, NGLs, and wholesale propane industry segments, the company has been expanding its gas supply base and its propane wholesale network in recent years through strategic complementary acquisitions and joint ventures.
In 2012 DCP Midstream Partners acquired the Texas-based Crossroads processing plant and gathering system from Penn Virginia Resource Partners for $63 million. The bolt-on acquisition allows the company to expand its market position in East Texas and provide services to drillers in the Haynesville shale and Cotton Valley regions.
In 2011 DCP Midstream Partners acquired the Seaway Products Pipeline Co. from ConocoPhillips. The pipeline, now called Southern Hills Pipeline and being converted to NGL service, is expected to be operational by mid-2013. It will provide NGL access from the Midcontinent to the Texas Gulf Coast.
The company agreed to form a joint venture with EQT Corporation to develop natural gas processing and related natural gas liquid (NGL) infrastructure in the Marcellus and Huron shale plays in the Appalachian basin. (However, the parties could not come to agreement and dropped the plan in early 2011). In 2010, the company acquired the Liberty gathering system and south Raywood processing plant from Ceritas Energy in southeast Texas. The pipeline system interconnects with DCP Midstream's Centana Intrastate Pipeline system.
Expanding in Michigan, in 2009 the company acquired gas gathering and treating assets for $45.1 million. In 2010 it acquired a 350-mile interstate natural gas liquids pipeline system in Colorado's Denver-Julesburg Basin from Buckeye Partners for $22 million.
In 2010 DCP Midstream Partners moved to extend its Northeast wholesale propane business into the MidAtlantic region, acquiring UGI's Atlantic Energy for $49 million. That year it also purchased of NGL storage company Marysville Hydrocarbon Holdings (in Michigan) for about $95 million.
Although DCP Midstream Partners' revenues suffered in 2009 as a result of the global recession and lower commodity prices, acquisitions and organic growth managed to offset lower natural gas volumes. Acquisitions, increased demand, higher commodity and propane prices, and gains on derivatives help to lift the company's revenues and net income in 2010.
In terms of the company's origins, the D in DCP Midstream Partners (formerly Duke Energy Field Services) is for Duke Energy; the CP, ConocoPhillips. These two energy majors formed DCP Midstream Partners in 2005. Following the spinoff of Spectra Energy from Duke Energy in 2007, Spectra Energy assumed Duke Energy's 50% holding in DCP.
Our BusinessA consolidator in the fragmented natural gas gathering, NGLs, and wholesale propane industry segments, the company has been expanding its gas supply base and its propane wholesale network in recent years through strategic complementary acquisitions and joint ventures.
In 2012 DCP Midstream Partners acquired the Texas-based Crossroads processing plant and gathering system from Penn Virginia Resource Partners for $63 million. The bolt-on acquisition allows the company to expand its market position in East Texas and provide services to drillers in the Haynesville shale and Cotton Valley regions.
In 2011 DCP Midstream Partners acquired the Seaway Products Pipeline Co. from ConocoPhillips. The pipeline, now called Southern Hills Pipeline and being converted to NGL service, is expected to be operational by mid-2013. It will provide NGL access from the Midcontinent to the Texas Gulf Coast.
The company agreed to form a joint venture with EQT Corporation to develop natural gas processing and related natural gas liquid (NGL) infrastructure in the Marcellus and Huron shale plays in the Appalachian basin. (However, the parties could not come to agreement and dropped the plan in early 2011). In 2010, the company acquired the Liberty gathering system and south Raywood processing plant from Ceritas Energy in southeast Texas. The pipeline system interconnects with DCP Midstream's Centana Intrastate Pipeline system.
Expanding in Michigan, in 2009 the company acquired gas gathering and treating assets for $45.1 million. In 2010 it acquired a 350-mile interstate natural gas liquids pipeline system in Colorado's Denver-Julesburg Basin from Buckeye Partners for $22 million.
In 2010 DCP Midstream Partners moved to extend its Northeast wholesale propane business into the MidAtlantic region, acquiring UGI's Atlantic Energy for $49 million. That year it also purchased of NGL storage company Marysville Hydrocarbon Holdings (in Michigan) for about $95 million.
Although DCP Midstream Partners' revenues suffered in 2009 as a result of the global recession and lower commodity prices, acquisitions and organic growth managed to offset lower natural gas volumes. Acquisitions, increased demand, higher commodity and propane prices, and gains on derivatives help to lift the company's revenues and net income in 2010.
In terms of the company's origins, the D in DCP Midstream Partners (formerly Duke Energy Field Services) is for Duke Energy; the CP, ConocoPhillips. These two energy majors formed DCP Midstream Partners in 2005. Following the spinoff of Spectra Energy from Duke Energy in 2007, Spectra Energy assumed Duke Energy's 50% holding in DCP.
DCP Midstream is a Fortune 500 natural gas company dedicated to meeting the energy and consumer needs of our society. With a focus on technology and innovation, we safely and reliably operate a strong and diversified portfolio of logistics, marketing, gathering, and processing assets across nine states. Headquartered in Denver, Colorado, we are one of the largest natural gas liquids producers and marketers, and one of the largest natural gas processors in the United States, with over 90 years of industry leadership. We are committed to shaping a strong company culture and sustaining business strategy to meet our producer customer and downstream user consumer needs and to drive long-term unitholder value. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66.
Our PurposeOur purpose, Building Connections to Enable Better Lives, is the lens through which we look at every decision, every action, and every strategy. From how we approach safety and our environmental footprint, to how we manage our growth and economic impact – we believe we have a responsibility to continually enable better lives through our individual and collective actions as employees of DCP. From creating the feedstock used for thousands of products and warming our homes, to fueling our transportation systems and increasing reliable and affordable energy access, we play a critical role in the energy value chain that drives our society.
Our Cultural HallmarksTRUST – We start with trust because it is the foundation to a healthy culture.
CONNECT – We connect to be a unified team working collaboratively toward common goals.
INSPIRE – We inspire to build the energy company of the future.
SOLVE – We commit to solve to ensure a fast-paced, effective, and enduring organization.
ACHIEVE – We strive to achieve to reach our vision and drive our success.
Our VisionCONNECT – We connect to be a unified team working collaboratively toward common goals.
INSPIRE – We inspire to build the energy company of the future.
SOLVE – We commit to solve to ensure a fast-paced, effective, and enduring organization.
ACHIEVE – We strive to achieve to reach our vision and drive our success.
Our vision is to be the safest, most reliable, low-cost midstream service provider. We believe this is achieved through a dedicated focus on operational excellence and sustainability, continuous innovation, and adherence to our cultural hallmarks.
Join Our TeamAll careers at DCP Midstream are high impact and positively influence our daily operations, the communities within which we operate, and the energy and infrastructure business. We are dedicated to supporting our employees with opportunities for internal mobility, continual growth and training. We provide best-in-class benefits, including comprehensive medical plan options; dental, vision and life insurance; best in class 401(k) savings and retirement matches; vacation, sick, personal and wellness days; tuition and gym membership reimbursement, legal insurance and additional programs through DCP Perks.
Number of Employees in DCP Midstream LP
1,001 to 5,000
DCP Midstream LP Revenue
$5B to $10B (USD)
Industry