DCP Midstream Slashes Spending Amid Market Woes, Delays Projects in Niobrara, Permian, Eagle Ford, an Industrial Info News Alert
(firmenpresse) - SUGAR LAND, TX -- (Marketwired) -- 08/09/16 -- 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 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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Datum: 09.08.2016 - 05:30 Uhr
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News-ID 1451443
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