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DCP Midstream

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About DCP Midstream

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 – more... 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. – less

DCP Midstream Employer Reviews

System Technician III (Former Employee), Oklahoma City, OKDecember 16, 2014
Talent Aquisition Specialist (Former Employee), Denver, CONovember 21, 2014
Automation Controls Specialist (Current Employee), Liberal, KSOctober 26, 2014
I/E Technician Intern (Former Employee), Chickasha, OKOctober 3, 2014
Sr. Admin lll (Former Employee), Houston, TexasOctober 1, 2014

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