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DCP Midstream Partners

Logo: dcpmidstream.com4

American petroleum services company

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 in 2023 and the company has been controlled of Phillips 66 since then. Prior to its acquisition it was a Fortune 500 company headquartered in Denver, Colorado.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

2005Founded1

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  • TickerDCP on NYSE1
  • Industrypetroleum industry1
  • HeadquartersDenver, Colorado1
  • Websitewww.dcpmidstream.com
  • Incorporated inDE5
  • Business address6900 East Layton Avenue, Suite 900, Denver, Co 802375
  • Filer categoryLarge accelerated filer5

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DCP Midstream Partners image from its website
Image: dcpmidstream.com4

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 in 2023 and the company has been controlled of Phillips 66 since then.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

14.0%Gross margin7
4.8%Operating margin7
7.0%Net margin7
40.0%Revenue growth, 20227
$1.6BFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs91¢$13.7B
  • Interest2¢$278.0M
  • Income tax0¢$1.0M
  • Profit7¢$1.1B

Out of $15.0B in revenue.7

Where each dollar of operating cash went, fiscal 2022

  • Capital spending13¢$246.0M
  • Kept or used elsewhere87¢$1.6B

Out of $1.9B of cash from operations.7

Financial statements

Revenue8910117$15.0B in 2022+118% since 2016
0$5.0B$10.0B$15.0B2016: $6.9B$6.9B20162017: $8.5B$8.5B2017+23%2018: $9.8B$9.8B2018+16%2019: $7.6B$7.6B2019−22%2020: $6.3B$6.3B2020−17%2021: $10.7B$10.7B2021+70%2022: $15.0B$15.0B2022+40%
Gross profit8910117$2.1B in 2022+47% since 2016
0$1.0B$2.0B$3.0B2016: $1.4B$1.4B20162017: $1.6B$1.6B2017+10%2018: $1.8B$1.8B2018+14%2019: $1.6B$1.6B2019−11%2020: $1.6B$1.6B2020−3%2021: $1.4B$1.4B2021−8%2022: $2.1B$2.1B2022+46%
Operating income8910117$715.0M in 2022+299% since 2016
-$500.0M0$500.0M$1.0B2016: $179.0M$179.0M20162017: $222.0M$222.0M2017+24%2018: $223.0M$223.0M2018+0%2019: -$150.0M-$150.0M20192020: -$447.0M-$447.0M2020+198%2021: $165.0M$165.0M20212022: $715.0M$715.0M2022+333%
Net income8910117$1.1B in 2022+1095% since 2016
-$500.0M0$500.0M$1.0B$1.5B2016: $88.0M$88.0M20162017: $229.0M$229.0M2017+160%2018: $298.0M$298.0M2018+30%2019: $17.0M$17.0M2019−94%2020: -$306.0M-$306.0M20202021: $391.0M$391.0M20212022: $1.1B$1.1B2022+169%
Fiscal year2016201720182019202020212022
Revenue$6.9B8$8.5B9$9.8B10$7.6B11$6.3B7$10.7B7$15.0B7
Cost of revenue$6.9B9$8.0B9$6.0B9
Gross profit$1.4B8$1.6B9$1.8B10$1.6B11$1.6B7$1.4B7$2.1B7
Operating expenses$10.5B7$14.3B7
Operating income$179.0M8$222.0M9$223.0M10-$150.0M11-$447.0M7$165.0M7$715.0M7
Interest$321.0M8$289.0M9$269.0M10$304.0M11$302.0M7$299.0M7$278.0M7
Income before tax$401.0M7$1.1B7
Income tax$46.0M8-$2.0M9-$3.0M10-$1.0M11$07-$6.0M7$1.0M7
Net income$88.0M8$229.0M9$298.0M10$17.0M11-$306.0M7$391.0M7$1.1B7
Shares (weighted, basic)208.4M shares7208.4M shares7

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Corporate structure

DCP Midstream Partners sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of DCP Midstream Partners

  • Phillips 66 Filed SC 13D/A on DCP Midstream Partners, latest Jun 15, 2023 (3 filings since Aug 26, 2022)
  • ALPS ADVISORS INC Filed SC 13G/A on DCP Midstream Partners, latest Feb 13, 2023 (2 filings since Feb 3, 2022)
  • DCP Midstream Partners Denver, Colorado

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What DCP Midstream Partners reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$13.8B7 Dec 31, 2022$13.4B7 Dec 31, 2021+2.7%
Accumulated depreciation$6.0B7 Dec 31, 2022$5.7B7 Dec 31, 2021+5.3%
Property and equipment, net$7.8B7 Dec 31, 2022$7.7B7 Dec 31, 2021+0.8%
Finance-lease assets$32.0M7 Dec 31, 2022$28.0M7 Dec 31, 2021+14.3%
Operating-lease assets (leased space)$112.0M7 Dec 31, 2022$104.0M7 Dec 31, 2021+7.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.0M7 Dec 31, 2022$1.0M7 Dec 31, 20210%
Stakes in other companies (equity method)$3.5B7 Dec 31, 2022$3.6B7 Dec 31, 2021−2.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$110.0M7 Dec 31, 2022$110.0M7 Dec 31, 20210%
Accumulated amortization$76.0M7 Dec 31, 2022$71.0M7 Dec 31, 2021+7.0%
Finite-lived intangibles, net$34.0M7 Dec 31, 2022$39.0M7 Dec 31, 2021−12.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$83.0M7 Dec 31, 2022$77.0M7 Dec 31, 2021+7.8%

The story

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 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.

From Wikipedia’s article on DCP Midstream Partners, shared under CC BY-SA 4.0.6

Leadership

Who has led DCP Midstream Partners, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark A. Borer2006–2012
  2. Kempen Wouter T. Van2013–2022
  3. Don Baldridge2023

Chair

  1. Kempen Wouter T. Van2020–2022

President

  1. Mark A. Borer2006–2012
  2. William S. Waldheim2012–2014
  3. Brian S. Frederick2017
  4. Don Baldridge2017–2022
  5. Kempen Wouter T. Van2017–2022
  6. Corey Walker2020–2021

Chief financial officer

  1. Angela A. Minas2008–2012
  2. Rose M. Robeson2012–2013
  3. Scott Richard Delmoro2023
2010201520202025
Board members and other officers (40)

Former names

  • DCP Midstream Partners, LPSep 16, 2005 to Jan 6, 20175

Timeline

  1. Oct 16, 20238-K Entered a material agreement; Ended a material agreement; Listing notice or transfer68
  2. Sep 14, 20238-K Other events69
  3. Jul 14, 20238-K Regulation FD disclosure70
  4. Jun 15, 20238-K Entered a material agreement; Completed an acquisition or sale; Listing notice or transfer71
  5. May 17, 20238-K Other events72
  6. May 3, 20238-K Results of operations73
  7. Apr 21, 20238-K Executive or director change74
  8. Mar 7, 2023New chief executive Don Baldridge becomes CEO18
  9. Feb 8, 20238-K Results of operations75
  10. Jan 6, 20238-K Entered a material agreement; Shareholder vote; Regulation FD disclosure76
  11. Dec 13, 20228-K Executive or director change77
  12. Nov 2, 20228-K Results of operations78
  13. Aug 23, 20228-K Change in control; Executive or director change; Other events79
  14. Jan 8, 2013New chief executive Kempen Wouter T. Van becomes CEO19
  15. Nov 17, 2006New chief executive Mark A. Borer becomes CEO20
  16. Dec 2, 2005Went public Listed on NYSE1
  17. 2005Founded Founded1

Calendar

When it reported results

  1. May 3, 2023Reported quarterly or annual results73
  2. Feb 8, 2023Reported quarterly or annual results75
  3. Nov 2, 2022Reported quarterly or annual results78
  4. Aug 2, 2022Reported quarterly or annual results80
  5. May 4, 2022Reported quarterly or annual results81
  6. Feb 9, 2022Reported quarterly or annual results82
  7. Nov 2, 2021Reported quarterly or annual results83

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

96 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 21 major events, 34 insider forms, 5 large holders, 28 other. The latest 20:

  1. Oct 26, 202315-12G EDGAR
  2. Oct 16, 20238-K EDGAR
  3. Sep 14, 20238-K EDGAR
  4. Aug 4, 202310-Q EDGAR
  5. Jul 14, 20238-K EDGAR
  6. Jun 26, 202315-12G EDGAR
  7. Jun 20, 2023EFFECT EDGAR
  8. Jun 20, 2023EFFECT EDGAR
  9. Jun 16, 20234 EDGAR
  10. Jun 16, 20234 EDGAR
  11. Jun 16, 20234 EDGAR
  12. Jun 16, 20234 EDGAR
  13. Jun 16, 20234 EDGAR
  14. Jun 16, 20234 EDGAR
  15. Jun 16, 20234 EDGAR
  16. Jun 16, 20234 EDGAR
  17. Jun 16, 20234 EDGAR
  18. Jun 15, 2023POS AM EDGAR
  19. Jun 15, 2023S-8 POS EDGAR
  20. Jun 15, 2023S-8 POS EDGAR

The 96 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 23, 2022Denton Clifford ToddDirectorSale2,750$39.23$107.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 19, 2020David A Perdue , Jr, SenatePartial sale$1,001 - $15,000Report
Feb 19, 2020David A Perdue , Jr, SenatePartial sale$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How DCP Midstream Partners is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDCP Midstream, LP2
  • CIK0001338065
  • Employer ID (EIN)03-05671332
  • Filer statusLarge accelerated filer2
  • Incorporated inDelaware2
  • Fiscal year endsDecember 312
  • Industry code (SIC)4922 Natural Gas Transmission2
  • Business address6900 East Layton Avenue, Suite 900, Denver, CO 802372
  • Phone303-595-33312
  • Shares outstanding208,677,458 as of Jul 28, 202313
  • Public float$2.7B as of Jun 30, 20227
  • On EDGAR sinceSep 16, 20052
  • Filings970 in all: 4 (283), 8-K (254), 3 (61), 10-Q (53), SC 13G/A (49), 424B5 (24), UPLOAD (22), 424B2 (21)2
    All 48 form types

    CORRESP (20), 10-K (18), SC 13G (17), 8-K/A (14), FWP (14), SC 13D/A (14), EFFECT (12), D (10), S-3 (8), 3/A (7), POS AM (5), S-3/A (5), S-3ASR (5), 424B3 (4), CT ORDER (4), SC 13E3/A (4), 25-NSE (3), 5 (3), 8-A12B (3), S-1/A (3), S-8 (3), S-8 POS (3), 10-K/A (2), 15-12G (2), 4/A (2), CERT (2), PRER14C (2), REGDEX (2), 10-Q/A (1), 424B4 (1), CERTNYS (1), DEF 14A (1), DEF 14C (1), DEFM14C (1), POSASR (1), PREM14C (1), S-1 (1), S-1MEF (1), SC 13D (1), SC 13E3 (1)

  • Latest filingsAnnual report (10-K) Feb 17, 2023
    Quarterly report (10-Q) Aug 4, 2023
    Proxy statement (DEF 14A) Mar 15, 2016
    Latest 8-K (8-K) Oct 16, 2023

Sources

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