Phillips 66 Completes Acquisition of DCP Midstream, LP Common Units
Phillips 66 completes acquisition of DCP Midstream, increasing economic interest to 86.8%.
Positive
Phillips 66 acquires all publicly held common units of DCP Midstream for $3.8 billion.
Increased economic interest in DCP Midstream to 86.8%.
Negative
DCP Midstream's common units will no longer be listed on the New York Stock Exchange.
06/15/2023 - 08:41 AM
HOUSTON & DENVER --(BUSINESS WIRE)--
Phillips 66 (NYSE: PSX) and DCP Midstream, LP (NYSE: DCP) completed the previously announced acquisition by Phillips 66 of all the publicly held common units representing limited partner interests in DCP Midstream for $41.75 $3.8 billion 86.8% .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230614491693/en/
Effective with the opening of markets today, DCP Midstream’s common units will no longer be listed on the New York Stock Exchange.
About Phillips 66 and DCP Midstream
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston , Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.
DCP Midstream, LP is a master limited partnership with a diversified portfolio of gathering, processing, logistics and marketing assets.
For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter .
View source version on businesswire.com: https://www.businesswire.com/news/home/20230614491693/en/
Jeff Dietert (investors)
jeff.dietert@p66.com
Owen Simpson (investors)
owen.simpson@p66.com
Thaddeus Herrick (media)
thaddeus.f.herrick@p66.com
Source: Phillips 66
What is the acquisition price of DCP Midstream's common units?
The acquisition price of DCP Midstream's common units is $41.75 per common unit in cash, totaling approximately $3.8 billion.
What is Phillips 66's new economic interest in DCP Midstream?
Phillips 66's new economic interest in DCP Midstream is 86.8%.
Will DCP Midstream's common units still be listed on the New York Stock Exchange?
No, DCP Midstream's common units will no longer be listed on the New York Stock Exchange.
PSX Rankings
#1564 Ranked by Stock Gains
PSX Stock Data
Industry
Petroleum Refineries
Sector
Manufacturing
Tags
Energy Minerals, Oil Refining/Marketing, Manufacturing, Petroleum Refineries
Country
US
City
Houston
About PSX
safety. honor. commitment. we are phillips 66, and we manufacture energy products you use every day. we refine and market petroleum products, such as gasoline, diesel, jet fuel and lubricants; gather and process natural gas and natural gas liquids (ngl) for powering businesses, heating homes, cooking and electricity; and manufacture petrochemicals, polymers and plastics found in cars, electronics, and other everyday goods. through financial strength and safe, reliable operations, we are delivering on a business strategy to enhance returns, grow the company, increase distributions to shareholders and build a highperforming team. we are phillips 66, and with our partners and suppliers, we create jobs. we have 14,000 colleagues in america and around the world. together we’re building a company founded on safety, honor and commitment. safety. we protect each other, our environment, and our communities. honor. we stand behind our word, and you can count on us to do the right
