DCP Midstream

NYSE: DCP

Updated Mar 29, 2026

Profile compiled and reviewed by the Houston Oil Companies Data Team from public filings and company sources.

Midstream · Gathering & Processing

DCP Midstream

DCP

DCP Midstream was one of the largest natural gas gathering and processing companies in the US, with significant Houston-area operations before its acquisition by Phillips 66.

Founded: 2000
Employees: 3,600+
Revenue: $12 billion (2022)
HQ: Denver, CO (Houston operations)

Natural Gas GatheringNGL ProcessingFractionationPipeline Operations

DCP Midstream, LP was one of the largest producers of natural gas liquids (NGLs) and one of the largest natural gas processing companies in the United States. Originally a joint venture between Phillips 66 and Enbridge, DCP was fully acquired by Phillips 66 in 2023. The company's extensive pipeline and processing infrastructure stretched across major US producing basins.

Headquarters

Denver, CO (Houston operations)

Founded

2000

Employees

3,600+

Revenue

$12 billion (2022)

CEO

Wouter van Kempen (former)

Website

dcpmidstream.com

History of DCP Midstream

DCP Midstream was formed in 2000 as Duke Energy Field Services, a joint venture between Duke Energy and ConocoPhillips. It was later renamed DCP Midstream after Spectra Energy (formerly Duke's gas unit) partnered with ConocoPhillips. Phillips 66 completed its acquisition of DCP Midstream in 2023, integrating the assets into its midstream segment.

Operations & Business Segments

DCP Midstream operated approximately 51,000 miles of natural gas and NGL pipelines, 39 natural gas processing plants, and 12 NGL fractionation facilities across the DJ Basin, Permian Basin, Midcontinent, and South Texas producing regions.

Headquarters Location

Denver, CO (Houston operations)

Key Specialties & Capabilities

Natural Gas GatheringNGL ProcessingFractionationPipeline OperationsDJ BasinPermian Basin

Frequently Asked Questions About DCP Midstream

Does DCP Midstream still exist?▾

DCP Midstream was fully acquired by Phillips 66 in 2023. Its midstream assets are now operated as part of Phillips 66's midstream segment.

What did DCP Midstream do?▾

DCP Midstream was one of the largest natural gas gathering, processing, and NGL production companies in the US, operating ~51,000 miles of pipelines and 39 processing plants.

How was DCP Midstream connected to Houston?▾

While headquartered in Denver, DCP Midstream had significant operations in the Houston area and Gulf Coast region. Its parent company Phillips 66 is headquartered in Houston.

What does DCP Midstream do in Houston?▾

DCP Midstream is a midstream company based in Denver, CO (Houston operations). DCP Midstream was one of the largest natural gas gathering and processing companies in the US, with significant Houston-area operations before its acquisition by Phillips 66.

Where is DCP Midstream headquartered?▾

DCP Midstream is headquartered in Denver, CO (Houston operations), founded in 2000. The company operates in Houston's energy corridor as part of the midstream sector.