DCP Midstream Partners was an American energy company that focused on
midstream petroleum services (i.e. transportation and refinery). The majority of its shares were acquired by
Phillips 66
The Phillips 66 Company is an American Multinational corporation, multinational energy company headquartered in Westchase, Houston, Texas. Its name, dating back to 1927 as a trademark of the Phillips Petroleum Company, assisted in establishing ...
in 2023 and the company has been controlled of Phillips 66 since then.
Prior to its acquisition it was is a
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
company headquartered in Denver, Colorado.
History
As a publicly traded partnership, the company did not have directors, officers, or employees of its own, but relied on its
general partner to manage its operations.
As of 2015, the company had a
total economic value
Total economic value (TEV) is a concept in cost–benefit analysis that refers to the value derived by people from a natural resource, a man-made heritage resource or an infrastructure system, compared to not having it. It appears in environmenta ...
of more than $6 billion and 628 employees provided support, making it one of the largest midstream petroleum services company in the United States.
In June 2023, Phillips 66 increased its ownership stake in DCP Midstream to 86% by acquiring all publicly-listed stock from the New York Stock Exchange. The majority of remaining shares were held by Canadian energy company
Enbridge
Enbridge Inc. is a multinational pipeline transport, pipeline and energy company headquartered in Calgary, Alberta, Canada. Enbridge owns and operates pipelines throughout Canada and the United States, transporting crude oil, natural gas, and n ...
.
See also
*
List of oilfield service companies
This is a list of oilfield service companies – which provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary companies and divisions are listed as sub-lists o ...
References
{{reflist
Chemical companies established in 2005
Companies based in Denver
2005 establishments in Colorado
Companies formerly listed on the New York Stock Exchange