SOURCE: Industrial Info Resources

Industrial Info Resources

August 09, 2016 07:30 ET

DCP Midstream Slashes Spending Amid Market Woes, Delays Projects in Niobrara, Permian, Eagle Ford, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Aug 9, 2016) - Researched by Industrial Info Resources (Sugar Land, Texas) -- DCP Midstream (NYSE:DPM) (Houston, Texas), a 50:50 joint venture between Spectra Energy Corporation (NYSE:SE) (Houston, Texas) and Phillips 66 (NYSE: PSX) (Bartlesville, Oklahoma), has been reducing capacity and selling off non-strategic assets as natural gas prices have remained low and the energy market has been stuck in neutral. The frustrating environment is reflected in delays of high-priced projects; the company's growth capital expenditures totaled roughly $30 million for the first two quarters of 2016, compared with $225 million for the same period in 2015. Industrial Info's project database is tracking about $1.13 billion in active projects involving DCP, most of them focused on the Niobrara Shale in the Rocky Mountains region, or the Eagle Ford Shale and Permian Basin in Texas.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

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