Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

General News | Deals - Acquisition, Mergers, Divestitures

Phillips 66 Makes Offer to Buy DCP Midstream for $34.75/Share

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Wednesday,August 17,2022

Phillips 66 has submitted a non-binding proposal to the board of directors of the general partner of DCP Midstream offering to acquire all publicly held common units of DCP Midstream in an all cash deal.

The company is offering $34.75/share for all outsanding units of DCP. Under the agreement, DCP Midstream would become an indirect subsidiary of Phillips 66.

This move is concurrent with Phillips 66’s announcement of the realignment of economic and governance interests in DCP.

DCP has assets in the following plays:

  • Permian Basin
  • DJ Basin
  • Eagle Ford
  • Anadarko Basin
  • Gulf Coast

Recent Deals/Transactions

Date Annouced Category Headline Buyer(s) Seller(s) Value ($mm)
09/22/2022 E&P Talos to Acquire GOM-Focused EnVen Energy for $1.1 Billion Cash/Stock 
09/08/2022 E&P EQT to Acquire Appalachia E&P, Midstream Assets for $5.2 Billion in Cash/Stock 
09/06/2022 E&P Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion 
08/23/2022 E&P Brigham Minerals Inks $133MM Cash Deal for Midland Basin Minerals, Royalties 
08/17/2022 E&P Northern Oil Picks Up Midland Basin Assets for $110 Million in Cash 
08/09/2022 E&P Devon Doubles Down in the Eagle Ford; Inks $1.8B Acquisition of Validus Energy 
08/04/2022 E&P APA Corp. Ups Ante in the Delaware Basin; Acquires Property for $555 Million 
08/01/2022 E&P Enerplus Sells Alberta Ante Creek, Medicine Hat Assets to Journey Energy for C$140MM 
07/28/2022 E&P Diversified Picks Up MidCon Assets from Conoco for $240 Million 
07/13/2022 E&P Tellurian to Acquire Haynesville Assets from EnSight for $125 Million 

Latest Transaction News