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DCP Midstream (symbol: DCP) is a prominent energy company that plays a crucial role in connecting abundant natural gas resources to expanding markets. Recognized as the largest producer of natural gas liquids (NGLs) and a leading natural gas processing company in the United States, DCP Midstream processes around 12% of the nation's gas supply.
DCP Midstream offers a wide range of fully integrated midstream services that include natural gas gathering, compression, treating, processing, transportation, and storage. The company's expansive midstream infrastructure includes natural gas processing plants, compressor stations, and an extensive network of pipelines.
Despite its size, with approximately 3,200 employees, DCP Midstream maintains a close-knit, small company feel. The company is committed to the professional development of its employees, offering long-term career growth opportunities, competitive compensation, and comprehensive benefits. These benefits include 401(k) matching, wellness-focused medical plans, tuition reimbursement, and employee-matching charitable gift programs.
Recently, DCP Midstream has been actively expanding its operations and infrastructure to meet the growing demands of the energy market. The company has also engaged in strategic partnerships and projects that enhance its capabilities and market reach.
Latest News: DCP Midstream continues to drive innovation and efficiency in the energy sector, with recent updates sourced from Phillips 66.
DCP Midstream reported financial results for the three and nine months ending September 30, 2020, showcasing a net income of $111 million for Q3 but a loss of $392 million for the nine-month period. The company generated $268 million in net cash from operations during Q3 and $791 million year-to-date. Adjusted EBITDA was $331 million for Q3 and $963 million year-to-date. DCP achieved $130 million of excess free cash flow in Q3 while reducing debt by $175 million year-to-date. Distributions declared totaled $81 million for the quarter, maintaining a quarterly payout of $0.39 per unit.
DCP Midstream declared a third quarter 2020 common unit distribution of $0.39 per unit, amounting to $1.56 annually. This distribution will be paid on November 13, 2020 to unitholders of record by October 30, 2020. Additionally, a semi-annual Series A preferred unit distribution of $36.875 and a quarterly Series B preferred unit distribution of $0.4922 will be paid on December 15, 2020. A quarterly Series C preferred unit distribution of $0.4969 will be paid on January 15, 2021.
DCP Midstream, LP (NYSE: DCP) will announce its third quarter 2020 earnings on November 4, 2020, after the market closes. A conference call to discuss these results is scheduled for November 5, 2020, at 11:00 a.m. ET. The call can be accessed via a dial-in number or an audio webcast on the company's website. A replay will be available until November 19, 2020. DCP Midstream operates numerous natural gas and liquid assets, making it a key player in the midstream energy sector.
DCP Midstream (NYSE: DCP) has been named one of ten new members of the World Economic Forum's Global Lighthouse Network, recognized for technological innovation and successful adaptation to the Fourth Industrial Revolution. DCP is one of five North American companies and the only U.S.-based oil and gas firm to receive this designation. The recognition stems from its DCP 2.0 digital transformation initiative aimed at optimizing operational efficiency amidst market volatility. DCP will receive this honor at the Global Lighthouse Network Annual Meeting on September 17, 2020.
DCP Midstream, LP (NYSE: DCP) will engage with investors during a series of calls on September 16, 2020, at the NYSE Energy and Utilities Investor Access Day. The calls will be led by Wouter van Kempen, CEO, and Sean O’Brien, CFO. Conference materials will be available on the DCP Midstream website on September 15, 2020. DCP Midstream is a leading midstream master limited partnership in the U.S., focused on gathering, processing, logistics, and marketing, positioning it as a key player in the natural gas liquids and processing sector.
DCP Midstream announced a series of meetings with investment community representatives at the Barclays 2020 CEO Energy Power Conference on September 9, 2020. CEO Wouter van Kempen and CFO Sean O’Brien will conduct these discussions via telephone, with materials available on their website starting September 8, 2020. DCP Midstream is a Fortune 500 company based in Denver, specializing in natural gas processing and logistics, and is one of the largest natural gas liquids producers in the U.S.
DCP Midstream is set to present at EnerCom's 25th annual The Oil & Gas Conference on August 19, 2020, highlighting its methane management initiative in partnership with Kairos Aerospace. The conference, running from August 17-19, will feature key midstream companies discussing operational strategies in the evolving oil and gas sector. DCP Midstream stands out as a major player in NGL production and natural gas processing in the U.S., with significant operations in key basins. The event ensures attendees' safety with a digital format, accommodating over 2,000 industry professionals.
DCP Midstream announced that Wouter van Kempen, chairman and CEO, along with CFO Sean O’Brien, will host one-on-one meetings with investors at the Citi Midstream/Energy Infrastructure Conference on August 12-13, 2020. These meetings will take place via telephone conference. Relevant materials will be available on DCP's Investor section on August 11, 2020. DCP Midstream, headquartered in Denver, is a leading midstream master limited partnership, known for its substantial role in natural gas liquids and processing in the U.S.
DCP Midstream, LP (NYSE: DCP) announced a second quarter 2020 common unit distribution of $0.39 per unit, totaling $1.56 annually. This will be paid on August 14, 2020, to unitholders of record by July 31, 2020. Additionally, quarterly distributions for Series B and C preferred units were declared at $0.4922 and $0.4969 per unit, respectively. Payments are scheduled for September 15, 2020 and October 15, 2020, to respective unitholders of record by September 1 and October 1.
DCP Midstream, LP (NYSE: DCP) will hold a conference call on August 6, 2020, at 10:00 a.m. ET to discuss its Q2 2020 earnings. The earnings report will be available after market close on August 5, 2020. Investors can access the call via audio webcast on the DCP website or by phone at (844) 233-0113 (U.S.) or (574) 990-1008 (international). A replay will be available until August 20, 2020. DCP is a leading midstream master limited partnership with significant natural gas liquids production and processing capabilities.
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