DCP - DCP STOCK NEWS

Phillips 66 (NYSE: PSX) announced a strategic realignment of its joint ventures with DCP Midstream (NYSE: DCP) on August 17, 2022. The company increased its economic interest in DCP Midstream from 28.26% to 43.31%, while reducing its stake in Gray Oak Pipeline from 42.25% to 6.50%. Phillips 66 contributed approximately $400 million in cash as part of the transaction, which is expected to enhance earnings. This move aims to strengthen its integrated NGL business and improve operational synergies.

DCP Midstream, LP (NYSE: DCP) will participate in the 2022 Citi One-on-One Midstream & Energy Infrastructure Conference on August 16, 2022, in Las Vegas. Key executives including Wouter van Kempen and Sean O’Brien will meet with investors. Conference materials will be available on DCP's investor website prior to the event. Based in Denver, DCP is a leading player in the natural gas liquids market and is known for its extensive gathering, processing, and marketing operations across the U.S.

DCP Midstream reported strong financial results for the second quarter and first half of 2022, achieving a net income of $383 million for Q2 and $463 million year-to-date. The company generated $385 million and $574 million in net cash from operations, respectively. Adjusted EBITDA rose by 9% to $477 million for the quarter, with distributable cash flow also increasing by 9% to $369 million. DCP reduced its debt by approximately $200 million, closing the quarter with a leverage ratio of 2.9 times. A 10% increase in common unit distributions was announced, reflecting robust performance and growth prospects.

DCP Midstream, LP (NYSE: DCP) has rescheduled its second quarter 2022 earnings conference call to 12:00 p.m. ET on August 3, 2022, due to a scheduling conflict. The earnings release will be available after the market closes on August 2, 2022. Investors can access the live audio webcast and presentation slides on the DCP website. For those wishing to participate by phone, pre-registration is advised. An audio replay and transcript will also be accessible following the call. DCP Midstream is a leading natural gas producer and processor in the U.S.

DCP Midstream (NYSE: DCP) announced a 10% increase in its second quarter 2022 Common Unit cash distribution to $0.43 per unit, amounting to $1.72 annually. This distribution will be paid on August 12, 2022 to unitholders of record by July 29, 2022. Additionally, distributions for Series B ($0.4922 per unit) and Series C ($0.4969 per unit) preferred units were declared, payable on September 15 and October 17, 2022, respectively. The press release highlights DCP's strong position in the midstream sector and its substantial portfolio.

DCP Midstream, LP (NYSE: DCP) will report its second quarter 2022 earnings after the market closes on August 2, 2022. A related conference call will take place on August 3, 2022, at 10:00 a.m. ET, available as a live audio webcast on their investor site. DCP Midstream is a leading midstream master limited partnership based in Denver, with a strong presence in natural gas liquids production and processing in the U.S.

DCP Midstream will participate in one-on-one and small group meetings at the J.P. Morgan 2022 Energy, Power & Renewables Conference in New York on June 22, 2022. Key executives include Sean O’Brien, Bill Johnson, and Don Baldridge. Materials for the conference will be available on the company’s Investor section of their website prior to the event. DCP Midstream is a leading midstream master limited partnership with a robust portfolio in the natural gas sector and is recognized as one of the largest producers of natural gas liquids in the U.S.

DCP Midstream has announced an agreement to acquire the James Lake System, a set of gathering and processing assets in the Permian Basin, from Woodland Midstream II for $160 million. This immediately accretive transaction is based on a 5.5 times EBITDA multiple and enhances DCP's gathering footprint. The acquisition includes approximately 230 miles of gathering pipe and a cryogenic processing facility with a capacity of 120 MMcf/d. It secures 250,000 dedicated acres and is supported by fee-based, long-term contracts with diverse operators.