DCP Midstream Sells Rock Creek Gathering System in Oklahoma and Texas

Updated 1 year 9 months ago

DCP Midstream execution and closing of a purchase and sale agreement under which DCP will convey 100% ownership in its Rock Creek Asset, located in the panhandle region of Oklahoma and Texas, and generally consisting of Rock Creek plant as well as the Sneed, Dumas, Borger, and Pampa gathering systems, 43 field compressor stations, and approximately 3,000 mi of gathering lines.

“In addition to our excess coverage, we will use the proceeds from these transactions to help fund over 35% of DCP’s 2019 strategic capital program focused on integrating and enhancing our core value chain,” said Wouter van Kempen, chairman, president, and CEO of DCP Midstream. “Throughout the year, we have driven operational excellence and innovation, while optimizing our footprint, to produce great results and fund a significant portion of our growth. This sale is another excellent example of our ability to deliver on our strategic goals as we work toward achieving a fully self-funded model.”