Raymond James Starts Spectra Energy (SE) at Outperform

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Go back to Raymond James Starts Spectra Energy (SE) at Outperform

Phillips 66 (PSX), Spectra Energy (SE) Plan Asset Contributions to DCP Midstream Joint Venture

September 8, 2015 4:05 PM EDT

Phillips 66 (NYSE: PSX) and Spectra Energy (NYSE: SE), 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.

Spectra Energy has agreed to contribute its ownership interest in both the Sand Hills and Southern Hills NGL pipelines. Phillips 66 has agreed to contribute $1.5... More