In the News: Phillips 66, Spectra Energy Bail Out Troubled DCP Midstream

Phillips 66 and Spectra Energy, 50/50 joint venture owners in DCP Midstream, LLC, have entered into a nonbinding letter of intent for contributing assets to strengthen DCP Midstream. This transaction is expected to provide DCP Midstream with a stronger balance sheet and increased financial flexibility, and positions DCP to grow through commodity price cycles.