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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