Market Overview

DCP Midstream Announces Corporate Restructuring

Share:
Related DPM
Mid-Morning Market Update: Markets Open Higher; UniFirst Posts Lower Q1 Profit
A Peek Into The Markets: U.S. Stock Futures Rise; FOMC Minutes In Focus

Today, Denver-based DCP Midstream
executed a reduction in force affecting approximately 20 percent of its
employees in corporate staff functions. With this corporate restructuring, DCP
Midstream will close its Oklahoma City regional office and reduce its
workforce in its Tulsa and Midland offices, relocating functions in those
locations primarily to its Denver headquarters and Houston regional office.

DCP Midsteam Logo

"DCP contributes to the country's energy vitality as the largest natural gas
gatherer and processor and natural gas liquids producer. With a 90-year
history, we are repositioning ourselves for the long term and ensuring we have
a sustainable workforce that meets our future needs," said chairman and CEO
Wouter van Kempen. "While this transition is difficult, we are establishing
DCP for continued growth founded upon a culture of operational excellence."

Since 2010, DCP has put in service approximately $4 billion of capital
projects in the country's major producing basins. Having executed successfully
on this growth portfolio, DCP has proactively reorganized the company to
ensure its focus is on improving its operational reliability and efficiency.

CONTACT: Roz Elliott
Office: 303-605-1707
Cell: 303-882-1703

Posted-In: News Press Releases

 

Related Articles (DPM)

View Comments and Join the Discussion!