DCP Midstream
DCP Midstream is the midstream infrastructure segment of Phillips 66, providing natural gas, NGL, and crude oil pipeline transportation, processing, fractionation, and storage services to enterprise energy customers across the United States through tariff-based contracts.
- Company typePublic
- Founded2000
- HeadquartersDenver, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What DCP Midstream does
DCP Midstream is the midstream energy infrastructure segment of Phillips 66, headquartered in Denver, Colorado, and operating as a publicly traded entity (NYSE: DCP). The company provides integrated midstream services across the natural gas, natural gas liquids (NGL), and crude oil value chains, including pipeline transportation, gathering and processing, fractionation, storage, and related logistics services for producers and downstream customers across the United States.
The company's core technology is physical midstream infrastructure — pipelines, processing plants, fractionation facilities, and storage assets — supplemented by a customer-facing digital platform that provides tariff access, tax portal services, and pipeline specifications for crude, clean products, and NGL customers. Recent digital investments include a rebuilt customer-facing platform (launched June 2026), digital tools deployed at Coastal Bend operations (May 2026), and the next construction phase of the Iron Mesa project (April 2026).
DCP Midstream generates revenue through a transaction-fee model based on tariffs for pipeline transportation, processing, storage, and fractionation services. The customer base is organized into three horizontal segments — Crude Oil, Clean Products, and NGL — all served through enterprise B2B commercial relationships. Following its acquisition by Phillips 66, DCP now operates as part of an integrated energy value chain with nearly 150 years of operational history, targeting $4.5 billion in midstream EBITDA by 2027.
DCP Midstream firmographics
Firmographics- Name
- DCP Midstream
- Legal name
- Phillips 66 Company
- Website
- https://dcpmidstream.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- DCP Midstream is the midstream infrastructure segment of Phillips 66, providing natural gas, NGL, and crude oil pipeline transportation, processing, fractionation, and storage services to enterprise energy customers across the United States through tariff-based contracts.
- Ownership category
- akta.pro rank
DCP Midstream industry classification
Industry- Product category
- Midstream Energy Infrastructure Services
- NAICS
- Pipeline Transportation of Natural Gas (486210), Pipeline Transportation of Natural Gas (4862), Pipeline Transportation of Crude Oil (4861)
- SIC
- Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922)
- akta.pro primary industry
- Natural Gas Compression Services (EUALACAG)
- akta.pro secondary industries
- Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling) (EUAAACAL), Gas Pipeline & Midstream Asset Management (EUAEAMAF)
Keywords
Where DCP Midstream is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Markets served
DCP Midstream business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Midstream Operations: Pipeline transportation and processing services for natural gas, NGL, and crude oil. Revenue generated through tariff-based fees for pipeline transportation, processing, storage, and fractionation services.
Distribution channels1 record
Marketing channels6 records
DCP Midstream product offering
Product offeringCore offering
DCP Midstream, now a segment of Phillips 66, operates midstream energy infrastructure that gathers, processes, and transports natural gas, natural gas liquids (NGL), and crude oil. Services include pipeline transportation, gas processing, NGL fractionation, and storage for crude, clean products, and NGL customers across the United States. Revenue is generated primarily through tariff-based fees for pipeline transportation, processing, storage, and fractionation services.
Product overview
DCP Midstream operates as the midstream segment of Phillips 66, providing integrated natural gas pipeline infrastructure services. The portfolio consists of core midstream operations encompassing gathering, processing, and transportation of natural gas, complemented by customer-facing digital tools including a tariff database for crude/NGL customers, a tax portal for compliance documentation, and pipeline specification resources. DCP Midstream has recently invested in digital modernization, including a rebuilt customer-facing platform launched in 2026.
Differentiator
Problem solved
Functional benefit
Brands
- Phillips 66: Primary brand of the company, a diversified energy manufacturing and logistics company.
- Conoco
- 76
- Jet
- Phillips 66 Aviation
- Phillips 66 Lubricants
- Kendall
- Red Line
Products and services
- Midstream Operations Core midstream operations including natural gas pipelines, gathering, processing, and transportation services for crude, clean products, and NGL customers across the DCP footprint.
- Customer-Facing Platform Customer-facing digital platform providing tools and information access for new and returning midstream customers to manage their operations.
- Tariff Database Tariff database and pricing information for Crude, Clean and NGL customers, providing transparent access to pipeline tariffs and rate schedules.
- Tax Portal Tax-related information and processes portal for midstream customers, including tax documentation and compliance resources.
Quantifiable outcome
- 40% increase in midstream earnings over four years
- +1 more outcomes
Companies that use DCP Midstream
Customer profileSegments3 records
Ideal customer profiles3 records
DCP Midstream technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
DCP Midstream partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights3 records
DCP Midstream competitors and assessment
Company assessmentDirect peers
- ONEOK: ONEOK is a leading midstream energy company specializing in natural gas processing, NGL fractionation, and transportation services. Directly comparable to DCP Midstream with similar natural gas gathering, processing, and NGL focus across US production basins.
- Kinder Morgan: Kinder Morgan is one of the largest energy infrastructure companies in North America, operating extensive natural gas, crude oil, and refined products pipelines. Directly comparable to DCP Midstream's gathering, processing, and transportation business with overlapping customer segments.
- MPLX: MPLX is a diversified midstream master limited partnership sponsored by Marathon Petroleum, operating natural gas, NGL, and crude oil infrastructure. Directly comparable to DCP Midstream with similar multi-commodity midstream services and similar corporate-sponsorship structure under a major integrated energy company.
- Enterprise Products Partners: Enterprise Products Partners operates an integrated midstream network for natural gas, NGLs, crude oil, and refined products. Directly comparable to DCP Midstream with similar portfolio of gathering, processing, fractionation, and pipeline transportation services.
- Williams Companies: Williams Companies operates one of the largest natural gas gathering, processing, and transportation networks in the US. Directly comparable to DCP Midstream's natural gas infrastructure footprint with similar customer base of producers and end markets.
- Western Midstream Partners: Western Midstream Partners is a natural gas-focused midstream company operating gathering, processing, and transportation assets primarily in the Delaware Basin. Directly comparable to DCP Midstream's natural gas gathering and processing operations with similar producer-customer base.
- Targa Resources: Targa Resources is a leading midstream operator focused on natural gas gathering, processing, and NGL production in key US basins. Directly comparable to DCP Midstream with overlapping gathering and processing capabilities and similar NGL-focused business model.
- Plains All American Pipeline: Plains All American Pipeline is a major midstream operator focused on crude oil gathering, transportation, and storage. Directly comparable to DCP Midstream's crude oil logistics business segment with overlapping customer base of producers and refiners.
- Energy Transfer: Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the US, including natural gas, NGL, and crude oil pipelines. Directly comparable to DCP Midstream with similar multi-commodity midstream focus and customer overlap.
Broad incumbents
- Enbridge: Enbridge is a major North American energy infrastructure company with extensive natural gas, liquids pipelines, and renewable energy assets. Comparable to DCP Midstream's pipeline transportation operations, particularly in natural gas transmission, though Enbridge operates at a broader geographic and asset-class scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
DCP Midstream social profiles
Digital presenceDCP Midstream financial estimates
Financial estimateRevenue estimate
Valuation estimate
DCP Midstream leadership team
Management profileNumber of profiles
Profiles5 records
DCP Midstream funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DCP Midstream M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DCP Midstream
What does DCP Midstream do?
DCP Midstream, now a segment of Phillips 66, operates midstream energy infrastructure that gathers, processes, and transports natural gas, natural gas liquids (NGL), and crude oil. Services include pipeline transportation, gas processing, NGL fractionation, and storage for crude, clean products, and NGL customers across the United States. Revenue is generated primarily through tariff-based fees for pipeline transportation, processing, storage, and fractionation services.
Is DCP Midstream a public or private company?
DCP Midstream is a public company. It is classified as public and is currently operating.
When was DCP Midstream founded?
DCP Midstream was founded in 2000. It employs 1,001 to 5,000 people.
Where is DCP Midstream based?
DCP Midstream is headquartered in Denver, United States, in the North America region.
How does DCP Midstream make money?
One revenue line is on record: midstream Operations.
Who are DCP Midstream's main competitors?
Direct peers on record are ONEOK, Kinder Morgan, MPLX, Enterprise Products Partners, Williams Companies, Western Midstream Partners, Targa Resources, Plains All American Pipeline and Energy Transfer. Enbridge is listed as a broad incumbent.
Does DCP Midstream have an API?
No public API is recorded for DCP Midstream.
What industry is DCP Midstream in?
DCP Midstream's product category is Midstream Energy Infrastructure Services. Its primary akta.pro industry code is EUALACAG, Natural Gas Compression Services, with a secondary code of EUAAACAL, Midstream Commercial Services (Capacity Marketing, Balancing & Scheduling). Its NAICS code is 486210 and its SIC code is 4923.